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$ 4,000,000
Est. payment | /mo
23 Beds
14 Baths
10,037 SqFt
$ 4,000,000
Est. payment | /mo
23 Beds
14 Baths
10,037 SqFt
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 10,037 sqft
Price per Sqft $398
MLS Listing ID 26852873
Bedrooms 23
HOA Y/N No
Year Built 1989
Lot Size 8,245 Sqft
Property Description
313 N Alexandria Ave is a well-maintained 9-unit multifamily investment opportunity located in Mid-Wilshire, bordering Silver Lake and Koreatown, one of Los Angeles' strongest rental corridors. Offering a 4.24% cap rate and fully occupied with responsible tenants provide stable in-place income. Built in 1989, the 10,037 sf building consists of five 3bd+2ba units and four 2bd+ 1ba units, offering highly desirable floor plans that support strong tenant demand and long-term rental stability. The property includes copper plumbing and is well maintained, with several updated units featuring laminate flooring, renovated bathrooms, and newer wall A/C units. Additional amenities include 16 parking spaces and an on-site community laundry room, offering an additional source of income. Because the building was built in 1989, it is not subject to LA City rent control but is subject to California's statewide rent cap, providing owners with the ability to adjust rents annually CPI + 5% or up to 10%. This asset offers immediate cash flow with long-term upside potential through rental growth in a high-demand, centrally located infill market.Ideally situated in a prime rental corridor, the property offers convenient access to Echo Park, Downtown Los Angeles, Koreatown, Silver Lake, dining, entertainment, and nearby Metro subway stations and public transportation.
Location
State CA
County Los Angeles
Area C17 - Mid-Wilshire
Zoning LAR3
Interior
Heating Wall Furnace
Cooling Dual
Fireplace No
Exterior
Parking Features Assigned, Controlled Entrance, Garage, Tandem
Total Parking Spaces 16
Building
Entry Level Three Or More
Level or Stories Three Or More
New Construction No
Others
Senior Community No
Tax ID 5520024003
Special Listing Condition Standard
Listed by Johnny Cho Keller Williams Realty Los Feliz #01394690
Nearby School & Business
39899 Balentine Dr. Suite 200, Newark, CA, 94560, United States