316 Bixel St, Los Angeles, CA 90026

Price Reduced! 316 N. Bixel Street presents an excellent opportunity to purchase a renovated, 8-unit multifamily asset adjacent to Downtown Los Angeles at the intersection of Historic Filipinotown, Echo Park and City West.
The classic, two-story property features a well-maintained woodframe and stucco building with vintage, character architecture. The property includes a mix of one-bedroom and studio units. Six of the eight units have been fully remodeled and are achieving strong rents. The two unrenovated units are well below the current market rent and will allow for steady increases or a large increase in income when those units vacate. As an investment, the property is offered at an attractive going-in Cap Rate with approximately 25% remaining upside.
The property was recently repainted with character accents throughout. The common area floors and light fixtures were all upgraded while preserving the character of the Property. The six renovated units feature newer, modern flooring, new paint, fully remodeled kitchens and bathrooms, and upgraded electrical.
The property also features a spacious upstairs, outdoor terrace available to the tenants for their use. The property is separately metered for gas and electric and master metered for water. There are individual water heaters for each apartment, and there is also coin-operated laundry on-site. There is no on-site parking so the tenants utilize street parking.
316 N. Bixel is an incredible location perfectly centered between Downtown Los Angeles, up-and-coming Historic Filipinotown, trendy Echo Park and City West. Historic Filipino Town was recently identified by Time Out as the 5th coolest neighborhood in the world! Whether a tenant wants to go to Temple Seafood, The Broad museum, Echo Park Lake, or Langer’s Deli, they are all only a 5-minute drive! 316 Bixel is poised to take advantage of the growing demand of this neighborhood and the strong rent growth sure to follow.