272 S Burlington Ave - Apartments FOR SALE


Los Angeles, CA 90057- Westlake North
$925,000 USD
818-399-4880
272 S Burlington Ave, Los Angeles, CA for Sale
$925,000 USD
Apartments - FOR SALE
1/18
null | 6.23% Cap Rate

272 S Burlington Ave
Los Angeles, CA 90057
Westlake North


HIGHLIGHTS

  • 2 of 5 Units Vacant, Including a Detached 2+1 Unit Perfect for Owner User
  • Recent upgrades to electrical, roofing, and plumbing systems under current ownership.
  • Located near Echo Park, Koreatown, Hollywood, and Downtown Los Angeles for strong tenant appeal.
  • Surrounded by ongoing development and neighborhood revitalization in Westlake North.
  • Close to major cultural, dining, and entertainment destinations with excellent transit access.

OVERVIEW

40% Vacant (2 of 5 units) including Vacant Detached 2+1 Owner User Unit - As the exclusive listing agent, we are pleased to present the opportunity to acquire The Burlington in the submarket of Westlake North (LA Market) and in close proximity to Echo Park, Hollywood,Koreatown, and DTLA. This offering includes a 5-unit charming bungalow multifamily building built in 1923 with a footprint of approximately 2,778SF, sitting on an elevated corner lot with a detached owner-user unit and city views. The Burlington offers an investor a significant value-add opportunity with approximately 30% (+/-) of potential upside in rents spread across a desirable unit mix. The property has seen upgrades to the electrical, roofing, and plumbing under the current ownership. Delivered 40% vacant (2 of 5 units), the property provides the possibility of leveraging the high demand for both market-rate and Section 8 tenants. This well-located multifamily property offers a rare opportunity to secure unique corner lot property for both investors and owner-users in a high-demand rental pocket surrounded by new development and continued gentrification. The Burlington is situated in Westlake North, a diverse and vibrant neighborhood. The property is located close to Echo Park,Hollywood, Koreatown, and Downtown Los Angeles, providing easy access to cultural and commercial hot spots. Westlake North offers a mix of history and growth, making it a highly attractive area for tenants. Additionally, the property is near Echo Park Lake, numerous cafes, restaurants,and other amenities, offering a rich living experience. This neighborhood continues to experience growth due to its centrality and ongoing gentrification

FOR SALE DETAILS

PRICE

$925,000 USD

PRICE/SF

$333 USD /SF

# OF UNITS

5

PRICE/UNIT

$185,000

CAP RATE

6.23%

% LEASED

60%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

40% Vacant & Updates to Electrical and Roof

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1923

PARKING SPACES

3

LAND DETAILS

LAND ACRES

0.12 AC

LAND SF

5,171 SF

ZONING

LAC2

APN/PARCEL ID

5153-002-001

ASK ABOUT THIS PROPERTY

Jared LevineJML Real Estate GroupMore Info
818-399-4880

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.

Jared LevineJML Real Estate GroupMore Info
818-399-4880

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.