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.

Essential Information

MLS® #19421002
Price$4,150,000
Bedrooms14
Bathrooms12.00
Square Footage9,332
Acres0.00
Year Built1963
TypeResidential Income
Sub-TypeApartment Building
StatusActive

Community Information

Address1516 Colby Ave
AreaWest Los Angeles (WLA)
CityLos Angeles (City)
CountyLos Angeles
StateCA
Zip Code90025

Amenities

Parking Spaces14
ParkingAssigned, Carport Attached

Interior

Interior FeaturesOther
HeatingWall Heater
CoolingOther

Additional Information

Date ListedJanuary 8th, 2019
Days on Market14
ZoningLAR3
HOA Fees0.00

Listing Details

AgentJonathan Taksa(01366169)

Office

Remax Commercial and Investment Realty

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Listing information last updated on January 23rd, 2019 at 1:35pm PST.

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