4350 Colfax Avenue

    Studio City, CA 91604
    • $2,950,000
    • STATUS: Active
    • ON SITE: 288 days
    • ID#: IN17228700
    UPDATED: 50 min ago
    $2,950,000
    • 0
      BEDS
    • 0.17
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 5,884
      SQFT
    • $501
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1958
    County:

    School Ratings & Info

    Description

    Spectacular 9 Unit apartment building, turnkey with huge upside in rents. Key apartment buildings in this area are fairly rare. So this offering is a real find. It has a unit mix of (2) 2/1 and (7) 1/1. All the units have either their own large patio or fenced backyard. There are 5 units upstairs and 4 downstairs, all with excellent tenants. Security gated building that opens into a lushly landscaped entrance that is low water and maintenance. The rear of the property has a coin-op laundry room with 2 washer and dryers. The building is serviced by LA City trash cans, no need for a dumpster. The property has a great feel with very nice units throughout. The building is done in copper plumbing overall and very low maintenance. The new owner will be well positioned for a nice upside in rental rates and low expenses over time.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-07-20T13:32:38.807. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
    www.playavistaliving.com/homes/77298216

    4350 Colfax Avenue Studio City, CA 91604

    • Price: $2,950,000
    • Status: Active
    • Updated: 50 min ago
    • ID#: IN17228700
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.17
    Acres
    5,884
    SQFT
    $501
    $/SQFT
    1958
    Built
    Neighborhood:
    STUD - Studio City
    County:
    Los Angeles
    Area:
    STUD - Studio City
    Property Description
    Spectacular 9 Unit apartment building, turnkey with huge upside in rents. Key apartment buildings in this area are fairly rare. So this offering is a real find. It has a unit mix of (2) 2/1 and (7) 1/1. All the units have either their own large patio or fenced backyard. There are 5 units upstairs and 4 downstairs, all with excellent tenants. Security gated building that opens into a lushly landscaped entrance that is low water and maintenance. The rear of the property has a coin-op laundry room with 2 washer and dryers. The building is serviced by LA City trash cans, no need for a dumpster. The property has a great feel with very nice units throughout. The building is done in copper plumbing overall and very low maintenance. The new owner will be well positioned for a nice upside in rental rates and low expenses over time.
    Exterior Features

    Carport Spaces 5.00 Entry Location Gate Garage Spaces 0.00 Lot Features 0-1 Unit/Acre Lot Size Source Assessor Lot Size Units Square Feet Parking Features Assigned Parking Total 11.00 Parking YN Yes Pool Features None Pool Private YN No Property Attached YN No Road Frontage Type City Street

    Interior Features

    Appliances Gas RangeGas StoveRefrigerator Appliances YN Yes Average Studio Area Units Square Feet Average1 Bed Area Units Square Feet Average2 Bed Area Units Square Feet Average3 Bed Area Units Square Feet Common Walls No Common Walls Cooling Wall WindowEnergy Star Cooling YN Yes Flooring CarpetLaminate Heating Floor Furnace Heating YN Yes Interior Features Block WallsCopper Plumbing PartialIntercomTandem Laundry Features Community Levels Two

    Property Features

    Additional Parcels YN No Association Fee 0.00 Association YN No Building Area Units Square Feet Cap Rate 3.00 Community Features CurbsGutters Country Us Electric Electricity - On Property Electric Expense 4436.00 Elevation Units Feet Fuel Expense 1400.00 Gardener Expense 1200.00 Gross Income 147900.00 Gross Multiplier 20.00 Gross Operating Income 143618.00 Gross Scheduled Income 147900.00 Insurance Expense 2000.00 Land Lease YN No Laundry YN Yes Maintenance Expense 6300.00 Net Operating Income 89320.00 New Taxes Expense 35750.00 Number Of Separate Electric Meters 9 Number Of Separate Gas Meters 9 Number Of Separate Water Meters 1 Number With Disposal 9 Number With Range 9 Operating Expense 54298.00 Professional Management Expense 3600.00 Property Sub Type Apartment Rent Control YN Yes Security Features Automatic Gate Senior Community YN No Special Listing Conditions Standard Tenant Pays ElectricityGas Total Expenses 54686.00 Trash Expense 0.00 Utilities Sewer ConnectedUnderground UtilitiesWater Connected Vacancy Allowance Rate 3.00 Water Sewer Expense 0.00 Water Source Public Year Built Source Assessor Zoning Lar3

    Listing provided courtesy of Eric Mcleod of Eric Mcleod.


    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-07-20T13:32:38.807. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
     
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