316 Bixel StLos Angeles, CA 90026

Property Details for 316 Bixel St

Year built

1910

Construction

WOOD

Lot size

0.08 AC

Property size (Sq ft)

3,704 SF

Zone code

LACW

Property type

Apartment buildings

APN

5160-021-022

APU

5160021022

Description

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.

• CAP approach

  CAP return

  Valuation

  6%

  $1,354,727

  6.5%

  $1,250,517

  7%

  $1,161,194

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,091,747

  Geo Method

  $1,091,747

• Alternative Use

  Use

  Valuation

  Residential

  $1,250,517

  Hospitality

  $1,145,467

  Educational

  $953,015

  Medical

  $985,790

  Retail

  $1,482,468

Location Insight

City

Los Angeles

County

Los Angeles

State

California

Latitude

34.0639

Longitude

-118.255

CBSA code

31080

CBSA name

LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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