tomo logo

$1,550,000

Beds
10
sq ft
5,460

1711 S Burlington Ave, Los Angeles, CA 90006

1711 S Burlington Ave

Los Angeles, CA 90006

  • 99 days on market
Welcome to 1711 Burlington Ave, a classic Craftsman-style building situated at the vibrant edge of Koreatown. This 8-unit property offers a rare value-add opportunity with immediate cash flow potential, making it an excellent investment for savvy buyers. With many units already updated, there's still room for improvement and enhancement, allowing the new owner to increase rental income further. Nestled at the intersection of Koreatown, residents will enjoy convenient access to an eclectic mix of dining, shopping, and entertainment options, along with excellent public transit connections. The property sits on a generous 7,823 sq ft lot, presenting an exciting opportunity to capitalize on SB 1211. The new owner could potentially build up to 8 additional ADUs (Accessory Dwelling Units), maximizing both rental income and property value. With existing tenants in place and strong rental demand in the area, this building promises cash flow from day one, ensuring a solid return on your investment. The building's classic Craftsman architecture features create a warm atmosphere that tenants will love. DRIVE BY ONLY, DO NOT DISTURB TENANTS

Details

Property type

Est. home value

$1,844,751

Lot size

7,826 sq ft

Price per sq ft

$284

Year built

1912

HOA

No

Price History

01/06/2025
CLAW

CLAW #24448549

Listed
$1,550,000
11/18/2024
CLAW

CLAW #24448549

Pending
$1,550,000
10/03/2024
CLAW

CLAW #24448549

Listed
$1,550,000
+13.14%

Schools & Community

Neighborhood: 

Pico-Union

Elementary school: 

Unknown

Middle school: 

Unknown

High school: 

Unknown

Seller’s Loan History

Before you make an offer, understand who you are negotiating with so you can tailor your negotiation strategy to their situation.

Lender

Chang Kyu Han

Loan start date

February 2019

Original loan amount

$1,055,000

Est. remaining balance

Not provided

Interest rate

4.62%

Loan type

Seller take-back

Seller

Phillip Song

Source: Public records data

If you're the owner, you can request to remove loan details. Email listingsupport@tomo.com

How insights can help you

Interest rate

If the seller has a low interest rate, they may be tempted to rent the property out if they can't get the price they have in mind.

Motivation

If the seller already got a job in a different city, they may feel pressure to sell quickly to free up cash for a new home.

Equity

If the seller stands to receive a large amount of cash when they sell the property, they might be willing to negotiate on the offer price.

Interested in learning more?

Status: Active

Tomo last checked: 01/10/2025 at 11:55 AM

Listing updated: 01/06/2025 at 12:05 PM

Listed by: Michael Matthias, Skylight Real Estate Advisors, Inc. Phone #: (310) 592-0833

MLS: CLAW #24448549

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