307 Burlington Ave, Los Angeles, CA 90057
10 Unit Apartment Building | $1,300,000 ($130,000/Unit) | 4.99% Cap Rate | Los Angeles, CA 90057
For Sale
Active
8 pictures
Asking Price $1,300,000
- Property Type
-
Multifamily
- Square Feet
- 3,976 SF
Listing Contacts
Sean Rosenzweig
Property Overview
Marcus & Millichap, as the exclusive listing agent, is pleased to offer for sale a 10-unit apartment community located at 307 South Burlington Avenue. The subject property is located south of 3rd Street within the Westlake sub-market, which borders three thriving markets – Koreatown, Downtown, and Echo Park.
Situated on a 5,397 square foot parcel, the property is comprised of four singles, four studios, and two one-bedroom units. The property has 39% remaining rental upside through unit renovations.
The continued gentrification of the surrounding area along with the value-add potential for a new owner to renovate units and achieve superior future returns moving forward makes 307 South Burlington Avenue an excellent acquisition opportunity.
Situated on a 5,397 square foot parcel, the property is comprised of four singles, four studios, and two one-bedroom units. The property has 39% remaining rental upside through unit renovations.
The continued gentrification of the surrounding area along with the value-add potential for a new owner to renovate units and achieve superior future returns moving forward makes 307 South Burlington Avenue an excellent acquisition opportunity.
Property Details
- Class
- C
- Year Built
- 1925
- Stories
- 2
- Lot Size (sq. ft)
- 5,227 SF
- Units
- 10
Highlights
- Property is Being Offered at an Attractive Basis of $130,000 per Unit
- New Ownership has Potential to Add Accessory Dwelling Units (ADU) to the Property Allowing for Added Future Growth - Buyer to Verify
- Located 0.6 Miles from the Westlake/MacArthur Park Metro Station – Residents Benefit from Convenient Access Across the City
- There is 39 Percent Remaining Rental Upside Through Interior Renovations
- Property is Located in a Sought After Pocket of Westlake. With a Walk Score of 89 ‘Very Walkable’
- Located in the Path of Future Growth Between Downtown Los Angeles & Koreatown
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