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
1/15
null | 6.22% Cap Rate

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


HIGHLIGHTS

  • Strategic 16-Unit Multifamily Asset: 1960s low-rise featuring a desirable unit mix of twelve (12) studio units and four (4) spacious one-beds.
  • Rental Upside: Positioned in a high-demand rental corridor, allows investors to capture market-rate premiums through strategic renovations.
  • Transit-Oriented Location (96 Walk Score): Situated blocks from the Westlake/MacArthur Park Metro Station, offering access to DTLA and Koreatown.
  • High-Density LAR4 Zoning: Situated on 8,222 SF lot zoned LAR4, offering long-term density advantages and development potential in a Tier 3 TOC area.
  • Exceptional Parking & Utilities: Features fifteen (15) rare subterranean parking spaces and is separately metered for both gas and electricity.
  • Maintenance & Upgrades: Recent capital improvements including electrical subpanel replacements and plumbing updates ensure operational efficiency.

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 is one vacant unit, it has been recently vacated and is an older unit.

FOR SALE DETAILS

PRICE

$2,650,000 USD

PRICE/SF

$288 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

8,276 SF

ZONING

LAR4

APN/PARCEL ID

5137-001-036

ASK ABOUT THIS PROPERTY

Henry GarciaPivot CommercialMore Info
818-309-3935

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

Henry GarciaPivot CommercialMore Info
818-309-3935

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