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1516 Colby Avenue,  Los Angeles CA, 90025

(Closed)
Sold Price:
$3,960,000
Date:03/15/2019
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MLS# 19421002
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Last Updated: 3/19/2019 3:29 AM
Description for 1516 Colby Avenue Los Angeles, CA 90025
1516 Colby Avenue is a rare opportunity to acquire an easy to manage property located in one of the best rental locations in prime West Los Angeles.  Just a short stroll to great dining and shopping, the property will be delivered with 7 out of 11 units vacant, allowing the astute investor to immediately capitalize on setting high market rents. 1516 Colby Avenue boasts a fantastic unit mix consisting of 9 large one bedroom units, 1 two bedroom one bath unit, and an extra spacious three bedroom two bath "town home" style owner's unit. The investment is priced at 15.75 GRM and a 4.16 CAP rate on conservative rents. All units have great floor plans, large kitchens and bathrooms, and either a private patio or balcony. There is an on-site laundry room and on-site parking consisting of 14 spaces (4 tandem and 6 single).  Additionally, the property is situated on an oversized 8,898 square foot lot zoned R3.First time ever available for sale! Built by Seller's family.
Price
Sold Price:
$3,960,000
Sold Date:03/15/2019
Los Angeles
19421002
Closed
Description
1516 Colby Avenue is a rare opportunity to acquire an easy to manage property located in one of the best rental locations in prime West Los Angeles.  Just a short stroll to great dining and shopping, the property will be delivered with 7 out of 11 units vacant, allowing the astute investor to immediately capitalize on setting high market rents. 1516 Colby Avenue boasts a fantastic unit mix consisting of 9 large one bedroom units, 1 two bedroom one bath unit, and an extra spacious three bedroom two bath "town home" style owner's unit. The investment is priced at 15.75 GRM and a 4.16 CAP rate on conservative rents. All units have great floor plans, large kitchens and bathrooms, and either a private patio or balcony. There is an on-site laundry room and on-site parking consisting of 14 spaces (4 tandem and 6 single).  Additionally, the property is situated on an oversized 8,898 square foot lot zoned R3.First time ever available for sale! Built by Seller's family.
Listing Information
Property Type: Cluster, Other
0.2 Acres $424.35 1963
11 Total
Neighborhood
Room Information
Interior Features
3
Exterior / Lot Features
Attached Carport, Assigned Parking Space
LAR3
Driving Directions
North of Santa Monica Blvd. in Prime West Los Angeles
Financial Considerations
4261002014
,$83,066
Listing Price History

Los Angeles Real Estate

Los Angeles is located in California. Los Angeles, California 90025 has a population of 3,971,883.

The median household income in Los Angeles, California 90025 is $49,682. The median household income for the surrounding county is $55,870 compared to the national median of $53,482. The median age of people living in Los Angeles 90025 is 34.6 years.

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Courtesy: Jonathan Taksa - Remax Commercial and Investmen
The information being provided by California Regional Multiple Listing Service, Inc. (“CRMLS”) 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. Any information relating to a property referenced on this web site comes from CRMLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this website. The accuracy of all information is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
This content last refreshed on 3/19/2019 3:29 AM. Some properties which appear for sale on this web site may subsequently have sold or may no longer be available.
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