272 Burlington AveLos Angeles, CA 90057

  • Residential income properties
  • 2,778 SF
For Sale
$1,150,000 View listing

Property Details for 272 Burlington Ave

Year built
1923
Construction
WOOD
Lot size
0.12 AC
Property size (Sq ft)
2,778 SF
Zone code
LAC2
Property type
Residential income properties
Property subtype
Other apartment buildings
APN
5153-002-001
APU
5153002001

Description

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.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $1,016,045
    6.5%
    $937,888
    7%
    $870,896
  • Comparable approach

    Method
    Valuation
    Relative Method
    $818,810
    Geo Method
    $818,810
  • Alternative Use

    Use
    Valuation
    Residential
    $937,888
    Hospitality
    $859,100
    Educational
    $714,761
    Medical
    $739,343
    Retail
    $1,111,851
272 Burlington Ave, Los Angeles, California

Location Insight

City
Los Angeles
County
Los Angeles
State
California
Latitude
34.0613
Longitude
-118.269
CBSA code
31080
CBSA name
LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2024
$9,627
$464,232
$265,283
$729,515
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