272 Burlington AveLos Angeles, CA 90057

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

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.

• CAP approach

  CAP return

  Valuation

  6%

  $1,125,650

  6.5%

  $1,039,070

  7%

  $964,846

• Comparable approach

  Method

  Valuation

  Relative Method

  $618,069

  Geo Method

  $618,069

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $1,613,350

  Retail / Commercial

  $841,864

  Mixed-Use / Specialty

  $850,324

  Hospitality / Lodging

  $638,777

  Office

  $857,209

  Institutional / Educational

  $888,090

  Multifamily

  $1,182,660

  Automotive / Energy

  $761,220

  Parking / Income-Based Land

  $251,365

  Restaurant / Food Service

  $466,720

  Healthcare / Senior Housing

  $860,238

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

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