40% Vacant / Detached Owner User Unit | 272 S Burlington Ave
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40% Vacant / Detached Owner User Unit 272 S Burlington Ave
5 Unit Block of Flats £908,511 (£181,702/Unit) Los Angeles, CA 90057
Investment Highlights
- Ideal Owner User Property with Vacant Detached Owner User Unit
- Upgrades to Electrical, Roofing, and Plumbing - Buyer to Verify
- Close Proximity to Echo Park, Hollywood, Koreatown, and DTLA
- Delivered 40% Vacant (2 of 5 Units)
- Charming Bungalow Style with Free Standing Owners Unit
- Benefits From Raised Elevation with Amazing City Views
Executive Summary
PROPERTY OVERVIEW
Jared Levine of JML Real Estate Group / KW Commercial, the exclusive listing agent, is 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 2,778 SF, sitting on an elevated corner lot with a detached vacant owner-user unit and city views.
THE OPPORTUNITY
The Burlington offers an investor a significant value-add opportunity with approximately 35% (+/-) 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 a unique corner lot property for both investors and owner-users in a high-demand rental pocket surrounded by new development and continued gentrification.
THE LOCATION
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 hotspots. 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.
Contact us for an OM
Jared Levine of JML Real Estate Group / KW Commercial, the exclusive listing agent, is 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 2,778 SF, sitting on an elevated corner lot with a detached vacant owner-user unit and city views.
THE OPPORTUNITY
The Burlington offers an investor a significant value-add opportunity with approximately 35% (+/-) 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 a unique corner lot property for both investors and owner-users in a high-demand rental pocket surrounded by new development and continued gentrification.
THE LOCATION
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 hotspots. 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.
Contact us for an OM
Property Facts
| Price | £908,511 | Building Class | C |
| Price Per Unit | £181,702 | Lot Size | 0.12 AC |
| Sale Type | Investment | Building Size | 2,778 SF |
| No. Units | 5 | Average Occupancy | 60% |
| Property Type | Residential | Number of Floors | 1 |
| Property Subtype | Apartment | Year Built | 1923 |
| Apartment Style | Low Rise | Parking Ratio | 1.08/1,000 SF |
| Price | £908,511 |
| Price Per Unit | £181,702 |
| Sale Type | Investment |
| No. Units | 5 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.12 AC |
| Building Size | 2,778 SF |
| Average Occupancy | 60% |
| Number of Floors | 1 |
| Year Built | 1923 |
| Parking Ratio | 1.08/1,000 SF |
Unit Amenities
- Microwave
- Refrigerator
- Oven
- Range
- Tub/Shower
Site Amenities
- 24 Hour Access
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent.Mo | SF |
|---|---|---|---|
| 1+1 | 4 | - | - |
| 2+1 | 1 | - | - |
1 of 1
Walk Score ®
Walker's Paradise (91)
Transit Score ®
Excellent Transit (82)
PROPERTY TAXES
| Parcel Number | 5153-002-001 | Improvements Assessment | £209,576 |
| Land Assessment | £366,748 | Total Assessment | £576,324 |
PROPERTY TAXES
Parcel Number
5153-002-001
Land Assessment
£366,748
Improvements Assessment
£209,576
Total Assessment
£576,324
zoning
| Zoning Code | LAC2 |
| LAC2 |
-
Jared Levine -
KW Commercial
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40% Vacant / Detached Owner User Unit | 272 S Burlington Ave
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