1658 Colby AVE new Save Request In-Person Tour Request Virtual Tour
Los Angeles,CA 90025
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 5,464 sqft
Price per Sqft $457
MLS Listing ID 25554857
Bedrooms 7
HOA Y/N No
Year Built 1967
Lot Size 5,501 Sqft
Property Description
1658 Colby Ave presents a rare opportunity to acquire a well-maintained 7-unit multifamily asset in the heart of West Los Angeles. The property features a DESIRABLE UNIT MIX: one 3-bedroom + 2.5-bath unit, four 1-bedroom + 1-bath units, one studio unit, and one bachelor unit. The required SEISMIC RETROFITTING has been COMPLETED, and a brand-new ELECTRICAL UPDATE was completed in 2025. Plumbing is MOSTLY COPPER, and some units have been updated. Priced at $2,500,000, the property offers investors stable cash flow with significant VALUE-ADD potential over 42% RENTAL UPSIDE. It is being offered at a current GRM of 14.07, with a proforma GRM of 9.92 and a proforma CAP rate EXCEEDING 7%, highlighting the strong income growth achievable through rent adjustments as units turn.Additional features include 7 on-site parking spaces and owned on-site laundry. Located in prime West Los Angeles, just steps from the vibrant Sawtelle Japantown, the property boasts an excellent Walk Score, offering tenants convenient access to renowned dining, shopping, and entertainment a highly desirable location that supports strong rental demand. Full OM available.
Location
State CA
County Los Angeles
Area Wla - West Los Angeles
Zoning LAR3
Interior
Heating Wall Furnace
Flooring Carpet,Tile
Fireplaces Type Bath,Dining Room,Kitchen
Fireplace Yes
Appliance Oven,Refrigerator,Dryer,Washer
Laundry Common Area
Exterior
Parking Features Attached Carport
Community Features Gated
View Y/N Yes
View City Lights
Attached Garage Yes
Total Parking Spaces 7
Building
Faces East
Story 2
Entry Level Two
Sewer Other
Architectural Style Mid-Century Modern
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 4261012021
Security Features Gated Community
Special Listing Condition Standard