2915 Burnside Ave Los Angeles, CA 90016-3727
Property profile & analytics
2915 Burnside Ave Los Angeles, CA 90016-3727
- Apartment buildings
- 4,108 SF
- 0.21 lot acres
Property ID
US09-8090854
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- Apartment buildings
Property Details for 2915 Burnside Ave
- Lot size
- 0.21 lot acres
- Property size
- 4,108 SF
- Zone code
- LARD1.5
- Property type
- Apartment buildings
- APN
- 5043-022-005
- APU
- 5043022005
Description
This 7-unit apartment building in Los Angeles' desirable West Adams neighborhood presents a compelling investment opportunity. The property, situated on a 9,288 square foot lot, comprises five one-bedroom units, one two-bedroom apartment, and one two-bedroom house. Built in 1923 and 1959, the two-story buildings offer a combined 4,108 square feet of net rentable space. The asking price is $1,995,000, representing a price per unit of $285,000 and a price per square foot of $485.64. The current NOI is $112,001, yielding a 5.61% cap rate, while the pro-forma NOI is $211,753, indicating a 10.61% pro-forma cap rate. 71% of the units have recently undergone renovations, including new kitchens, bathrooms, flooring, and appliances. The property is zoned LARD1.5 and benefits from its proximity to Cumulus, a large retail development anchored by Whole Foods, and the burgeoning tech and media presence in the area. The location offers convenient access to employment centers and retail, and there's potential for adding an Accessory Dwelling Unit (ADU), given the "RTI" status of permits. This value-add opportunity, coupled with the area's ongoing gentrification and increasing rental rates, makes this property an attractive investment with significant upside potential. The property's address is 2915 South Burnside Avenue, Los Angeles, CA 90016.
Value Estimations
based on Realmo’s proprietary methodology
-
AI approach
- Method
- Estimation
- Statistic approach
- $1,230,000
- ML approach
- $1,250,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $1,176,000
Market price range: $512k - $1.18M -
Alternative Use
- Use
- Estimation
- APARTMENT HOUSE (5+ UNITS)
- $880,000 Current use
- OFFICE BUILDING
- $2,060,000 Change: +134% Conversion: Moderate
- RETAIL STORES
- $2,015,000 Change: +129% Conversion: Difficult
- MEDICAL BUILDING
- $1,870,000 Change: +112% Conversion: Moderate
- NEIGHBORHOOD: SHOPPING CENTER
- $1,740,000 Change: +97% Conversion: Difficult
- COMMERCIAL (GENERAL)
- $1,230,000 Change: +40% Conversion: Moderate
- WAREHOUSE, STORAGE
- $1,150,000 Change: +30% Conversion: Difficult
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Location Insight
- Map
- Local Demand
- City
- Los Angeles
- County
- Los Angeles
- State
- California
- Longitude
- -118.363
- Latitude
- 34.0269
- 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
$19,177
$1,092,420
$416,160
$1,508,580
-
$0.00
$0.00
$0.00
