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$1,150,000

Beds
Unknown
sq ft
Unknown

272 S Burlington Ave, Los Angeles, CA 90057

272 S Burlington Ave

Los Angeles, CA 90057

  • 70 days on market
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.

Details

Property type

Mixed Use

Lot size

5,172 sq ft

Price per sq ft

Unknown

Year built

1923

Price History

11/13/2024
CRMLS

CRMLS #SR24214257

Price change
$1,150,000
+0.09%
11/06/2024
CRMLS

CRMLS #SR24214257

Price change
$1,149,000
-0.09%
10/15/2024
CRMLS

CRMLS #SR24214257

Listed
$1,150,000
+84%

Schools & Community

Neighborhood: 

Westlake

Elementary school: 

Unknown

Middle school: 

Unknown

High school: 

Unknown

Community features: 

Sidewalks

Status: Active

Tomo last checked: 12/23/2024 at 4:30 PM

Listing updated: 12/05/2024 at 3:20 AM

Listed by: Jared Levine, Keller Williams Realty Calabasas Phone #: (818) 657-6500

MLS: CRMLS #SR24214257

CRMLS logo