For Sale
$1,150,000

272 Burlington AveLos Angeles, CA 90057

Charming 5-unit bungalow, prime location.

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents The Burlington, a 5-unit apartment building situated on a desirable corner lot in Los Angeles, CA. Built in 1923 and extensively renovated in 2017/2018, this charming bungalow-style property boasts approximately 2,778 square feet on a 5,172 square foot lot. The property features two buildings, one of which is a detached owner-user unit, offering potential for value-add repositioning. Currently, two of the five units are vacant, presenting a significant opportunity to increase rental income. The property benefits from a raised elevation providing city views and includes three parking spaces. Upgrades include electrical, roofing, and plumbing (buyer to verify). Located in Westlake North, near Echo Park, Hollywood, Koreatown, and Downtown Los Angeles, this property enjoys a high-demand rental market, suitable for both market-rate and Section 8 tenants. The property also features secured access, ideal frontage, and a clear channel billboard lease. The asking price is $1,150,000, with a price per unit of $230,000 and a cap rate of 4.47%. The Net Operating Income (NOI) is $51,407. The property is zoned LAC2 and has an APN of 4312-023-011. This is a rare opportunity to acquire a well-located, value-add multifamily property in a rapidly gentrifying area of Los Angeles.

Highlights

  • Upgrades to electrical, roofing, and plumbing (buyer to verify).
  • Prime location near Echo Park, Hollywood, Koreatown, and Downtown LA.
  • Surrounded by new development in a gentrifying neighborhood.
  • Corner lot with secured access and excellent street visibility.
  • Significant value-add opportunity with two of five units vacant.
  • Charming bungalow-style building with a detached owner's unit.

Property Details for 272 Burlington Ave

Property type
Apartment buildings
Square Feet
2,778 SF
Year Built/Renovated
1923/2017
Buildings
2
Stories
1
Units
5

Location Insight

City
Los Angeles
County
Los Angeles
State
California
Latitude
34.061311
Longitude
-118.268546
272 Burlington Ave, Los Angeles, California

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272 Burlington Ave
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