1516 Colby Ave
$4,150,000, 14 Beds 12 Baths 9,332 Sqft
About This Property
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.
Remax Commercial and Investment Realty
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Listing information last updated on January 23rd, 2019 at 1:35pm PST.