313 N Alexandria Ave
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 5.50 CAP rate (GRM 11.56) 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.
Broker Details
Keller Williams Los Feliz (323) 300-1000
MLS ID: X60748 State License Number: 01394690
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $3,245,000 |
| No. of Units: | 9 |
| Year Built: | 1989 |
| Lot Size: | 10,037.00 Sq ft |
| Opportunity Zone: | No |
| Price per unit: | $360,556 |
| Property Website | Click Here |
| Number of Bedrooms: | 23 |
| Number of Bathrooms: | 14 |
ID: 3yd-CLAWCA-26852873
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