Property listed by Keller Williams Realty Los Feliz, Johnny Cho 323-300-1000
$4,000,000
313 N Alexandria Ave is a well-maintained 9-unit multifamily investment opportunity located in Mid-Wilshire, bordering Silver Lake and Koreatown, one of Los Angeles' strongest rental corridors. Offering a 4.24% cap rate and fully occupied with responsible tenants provide stable in-place income. Built in 1989, the 10,037 sf building consists of… Read More five 3bd+2ba units and four 2bd+ 1ba units, offering highly desirable floor plans that support strong tenant demand and long-term rental stability. The property includes copper plumbing and is well maintained, with several updated units featuring laminate flooring, renovated bathrooms, and newer wall A/C units. Additional amenities include 16 parking spaces and an on-site community laundry room, offering an additional source of income. Because the building was built in 1989, it is not subject to LA City rent control but is subject to California's statewide rent cap, providing owners with the ability to adjust rents annually CPI + 5% or up to 10%. This asset offers immediate cash flow with long-term upside potential through rental growth in a high-demand, centrally located infill market.Ideally situated in a prime rental corridor, the property offers convenient access to Echo Park, Downtown Los Angeles, Koreatown, Silver Lake, dining, entertainment, and nearby Metro subway stations and public transportation. Read Less
Listing Snapshot
Days Online
0
Last Updated
Beds
23
Square Ft.
10,037
Lot Size
0.19 Acres
Year Built
1989
MLS Number
26852873
Additional Details
Building
Built in 1989, Living area: 10037.0, 1 building, Levels: ThreeOrMore
Cooling
Dual
Heating
WallFurnace
Income
Gross Income: $280,666, Net Operating Income: $169,476
Lot
0.1893 acres
Parking
16 total parking spaces, Assigned, ControlledEntrance, Garage, Tandem
Taxes
Parcel Number: 5520024003, Zoning: LAR3
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Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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