942 S Burlington Ave - Apartments FOR SALE


Los Angeles, CA 90006- Pico-Union
$2,650,000 USD
818-309-3935
942 S Burlington Ave, Los Angeles, CA for Sale
$2,650,000 USD
Apartments - FOR SALE
1/7
null | 6.22% Cap Rate

942 S Burlington Ave
Los Angeles, CA 90006
Pico-Union


HIGHLIGHTS

  • Subterranean Parking
  • Separately Metered for Electricity (No gas except for boiler)
  • Approx 25% Rental Upside

OVERVIEW

This 16-unit multifamily property located in Mid-Wilshire presents an excellent investment opportunity with strong upside potential. Built in 1964, the property features a unit mix of 12 Singles and 4 One-Bedroom units. The building is separately metered for gas and electricity and has 15 subterranean parking spaces. With approximately 25% rental upside, there is plenty of opportunity to increase long term cash flow. Note: Currently there are two vacant units, one that is fully remodeled and the other unit has recently vacated and is an older unit.

FOR SALE DETAILS

PRICE

$2,650,000 USD

PRICE/SF

$353 USD /SF

# OF UNITS

16

PRICE/UNIT

$165,625

CAP RATE

6.22%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1964

PARKING SPACES

15

LAND DETAILS

LAND ACRES

0.19 AC

LAND SF

8,224 SF

ZONING

LAR4

APN/PARCEL ID

5137-001-036

ASK ABOUT THIS PROPERTY

Henry GarciaPivot CommercialMore Info
818-309-3935

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Henry GarciaPivot CommercialMore Info
818-309-3935

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