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    272 Burlington Ave Los Angeles, CA 90057

    Sponsored
    For Sale
    $1,150,000

    Charming 5-unit bungalow, prime location.

    Property size:
    2,778 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    399
    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.

    Property Features for 272 Burlington Ave

    General Information

    Property type
    Multifamily properties
    Square Feet
    2,778 SF

    Building Details

    Year Built/Renovated
    1923/2017
    Buildings
    2
    Stories
    1
    Units
    5

    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 Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Realty agency Law Firm Spa & Massage Hair Salon Dental Office Nail Salon Clothing Store Food Market Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Los Angeles
    County
    Los Angeles
    State
    California
    Longitude
    -118.268546
    Latitude
    34.061311

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    FAQs

    What type of property is this?
    Multifamily property - Charming 5-unit bungalow, prime location.
    Where is this multifamily property located?
    The property is located at 272 Burlington Ave Los Angeles, CA.
    What is the asking price?
    The asking price for this property is $1,150,000.
    What are key features of this property?
    This property features: 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.
    Request Owner's contact information
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    272 Burlington Ave Los Angeles, CA 90057
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