272 Burlington Ave Los Angeles, CA 90057
- Apartment buildings
- 2,778 SF
- 0.12 lot acres
Current Use by Public Records
- Apartment buildings
Property Details for 272 Burlington Ave
- Year built
- 1923
- Construction
- WOOD
- Lot size
- 0.12 lot acres
- Property size
- 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.
Value Estimations
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Los Angeles
- County
- Los Angeles
- State
- California
- Longitude
- -118.269
- Latitude
- 34.0613
- CBSA code
- 31080
- CBSA name
- LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA
