316 Bixel St Los Angeles, CA 90026

This classic, two-story, 3,704 square foot apartment building at 316 N. Bixel Street in Los Angeles, CA 90026, presents a compelling investment opportunity. Built in 1910 and renovated in 2016, this property boasts eight units – a mix of studios and one-bedrooms – situated on a 3,276 square foot lot (APN: 5160-021-022). Six units have undergone full renovations, achieving strong rental income. The remaining two units offer significant upside potential through rent increases. The building features a shared outdoor terrace, individually metered gas and electric, individual water heaters, and coin-operated laundry. Street parking is available for tenants. The property's location is highly desirable, nestled between Downtown Los Angeles, Historic Filipinotown, Echo Park, and City West, offering easy access to freeways (110 and 101) and a wealth of amenities. The asking price is $1,375,000, representing an attractive price per unit of $171,875 and a current cap rate of 5.90%, with a pro-forma cap rate of 7.94%. The Net Operating Income (NOI) is currently $81,113, with a pro-forma NOI of $109,227. Recent improvements include repainting with character accents, upgraded common area floors and light fixtures, and modern flooring, kitchens, and bathrooms in the renovated units. Historic Filipinotown's recent recognition as one of the world's coolest neighborhoods further underscores the property's strong investment potential.