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.
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Contacts
Jared Levine
Hirsch Sherman
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272 Burlington Ave, Los Angeles, California, 90057
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The property value estimates provided on this website are automated calculations based on publicly available data, user-submitted information, and proprietary algorithms. These estimates are not appraisals and should not be used as a substitute for a professional valuation by a licensed appraiser.
We do not guarantee the accuracy, reliability, or completeness of these estimates, as market conditions, property features, and other factors may affect actual property values. Users should conduct their own due diligence and consult with a real estate professional before making financial or investment decisions.
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272 Burlington Ave
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