1658 Colby Avenue

About this listing

DESCRIPTION

1658 Colby Ave presents a rare opportunity to acquire a well-maintained 7-unit multifamily asset in the heart of West Los Angeles. The property features a DESIRABLE UNIT MIX: one 3-bedroom + 2.5-bath unit, four 1-bedroom + 1-bath units, one studio unit, and one bachelor unit. The required SEISMIC RETROFITTING has been COMPLETED, and a brand-new ELECTRICAL UPDATE was completed in 2025. Plumbing is MOSTLY COPPER, and some units have been updated. Priced at $2,500,000, the property offers investors stable cash flow with significant VALUE-ADD potential over 42% RENTAL UPSIDE. It is being offered at a current GRM of 14.07, with a proforma GRM of 9.92 and a proforma CAP rate EXCEEDING 7%, highlighting the strong income growth achievable through rent adjustments as units turn.
Additional features include 7 on-site parking spaces and owned on-site laundry. Located in prime West Los Angeles, just steps from the vibrant Sawtelle Japantown, the property boasts an excellent Walk Score, offering tenants convenient access to renowned dining, shopping, and entertainment a highly desirable location that supports strong rental demand. Full OM available.
Do not enter property and do not disturb Tenants!

HIGHLIGHTS

• Current GRM of 13.94, proforma GRM of 9.92, and proforma CAP rate exceeding 7%! Prime West LA location near Sawtelle Japantown with excellent Walk Score — highly attractive to tenants. Well-maintained 7-unit building with desirable unit mix: 1× 3BR+2.5BA, 4× 1BR+1BA, 1 studio, 1 bachelor. Seismic retrofitting & balcony inspection completed ; 3 units remodeled Brand-new electrical upgrade in 2025; plumbing is mostly copper; roof repaired in 2023 Significant rental upside — over 42% potential increase through rent adjustments as units turn. 7 on-site parking spaces and owned on-site laundry for additional tenant convenience and income potential