1738 Colby AveLos Angeles, CA 90025

Property Details for 1738 Colby Ave

Year built

1966

Construction

WOOD

Lot size

0.19 AC

Property size (Sq ft)

7,055 SF

Zone code

LAR3

Property type

Residential income properties

Property subtype

Other apartment buildings

APN

4261-015-019

APU

4261015019

Description

Exceptional investment opportunity: a 10-unit apartment building at 1738 Colby Ave, Los Angeles, CA 90025. This two-story, 7,055 square foot building, constructed in 1966, sits on an 8,139 square foot lot and boasts a desirable location just four blocks west of the San Diego (405) Freeway and two blocks south of Santa Monica Boulevard, adjacent to Santa Monica and Brentwood. The property features a mix of unit sizes: one studio, three two-bedroom/two-bathroom units, and six one-bedroom/one-bathroom units. All units, except for one intentionally vacated unit, are currently occupied by long-term tenants (over one year). The building offers 10 surface parking spaces and an on-site laundry room with washer and dryer. The asking price is $3,500,000, representing $350,000 per unit. The property's pro forma net operating income (NOI) is $142,938, yielding a 4.08% pro forma capitalization rate. The permitted zoning is LA [Q]R3-1. This multifamily property presents a strong cash flow opportunity in a highly sought-after West Los Angeles location. The vacant unit provides a buyer the flexibility to customize the space to their needs. The APN is 4261-015-019.

• CAP approach

  CAP return

  Valuation

  6%

  $2,202,433

  6.5%

  $2,033,015

  7%

  $1,887,800

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,074,566

  Geo Method

  $2,079,447

• Alternative Use

  Use

  Valuation

  Residential

  $2,033,015

  Hospitality

  $1,862,231

  Educational

  $1,549,354

  Medical

  $1,602,639

  Retail

  $2,410,106

Location Insight

City

Los Angeles

County

Los Angeles

State

California

Latitude

34.0422

Longitude

-118.45

CBSA code

31080

CBSA name

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

Property Tax & Assessments

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