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272 S Burlington Avenue

Los Angeles, CA 90057

PRICE REDUCED

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-$1,000 (-0.09%)

$1,149,000

List Price

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1923

calendar_month Built

Property Description

40% VACANT (2 of 5 Units) / OWNER USER OPPORTUNITY - 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 2,778 SF, sitting on an elevated corner lot with a vacant detached owner-user unit and city views. 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 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.

Listing Information

List Price $1,149,000
Status Active
MLS SR24214257
Type Residential Income
Subtype Mixed Use
Year Built 1923
Lot Size 5,172
Structure Size N/A
DOM 22
Courtesy Of Keller Williams Realty Calabasas
Listing Agent Jared Levine DRE#01804008

Interior Features

Laundry Information
Location(s) None
Total Bedroom
Bedrooms N/A
Total Bathroom
Bathrooms N/A

Exterior Information

Maps

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Listing information courtesy of: Jared Levine, Keller Williams Realty Calabasas 818.657.6556. *Based on information from the Association of REALTORS/Multiple Listing as of Nov 6th, 2024 at 5:51 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.