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.
Courtesy of Remax Commercial and Investment Realty, Jonathan Taksa - CA DRE#01366169 Selling Office: Compass.
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