28
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$978,000
Est. payment /mo
2 Beds
1 Bath
2,778 SqFt
Price Dropped by $20K
272 S Burlington Avenue Los Angeles, CA 90057
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Key Details
Property Type Multi-Family
Sub Type All Other Attached
Listing Status Active
Purchase Type For Sale
Square Footage 2,778 sqft
Price per Sqft $352
MLS Listing ID SR25160896
Bedrooms 2
Full Baths 1
Year Built 1923
Property Sub-Type All Other Attached
Property Description
Owner User Opportunity with Vacant freestanding 2+1 Bungalow with 4 additional 1+1 Bungalows. Property is 40% vacant (2 of 5 units). 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
Location
State CA
County Los Angeles
Zoning LAC2
Direction 3rd and Burlington
Interior
Fireplace No
Exterior
Garage Spaces 3.0
View Y/N Yes
Water Access Desc Public
View City Lights
Building
Story 1
Sewer Public Sewer
Water Public
Level or Stories 1
Others
Tax ID 5153002001
Special Listing Condition Standard
Listed by Jared Levine Keller Williams Realty Calabasas