272 S Burlington Avenue
Los Angeles, CA 90057
- – beds
- – baths
- – sqft
- 5,172 sqft lot
- 1923 build
- – on site
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.
Listed By CRMLS_CA / Jared Levine / Keller Williams Realty Calabasas / jared@jaredmlevine.com
Last checked:
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Last updated Oct 21, 2024
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MLS# SR24214257 —
The Building
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Year Built:1923
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Year Built Source:Assessor
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New Construction:No
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Entry Level:1
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Common Walls:1 Common Wall
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Building Area Total:2778.00
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Building Area Units:Square Feet
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# of Buildings:2
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Total Number Of Units:5
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Stories Total:2
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# of Separate Gas Meters:5
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# of Separate Water Meters:1
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# of Separate Electric Meters:5
Interior
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Entry Location:Front
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Laundry:None
Location
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Directions:3rd and Burlington
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Latitude:34.06131100
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Longitude:-118.26854600
The Property
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Property Type:Residential Income
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Subtype:Commercial/Residential
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Zoning:LAC2
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Lot Features:Landscaped
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Lot Size Area:5172.0000
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Lot Size Acres:0.1187
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Lot Size SqFt:5172.00
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Lot Size Source:Assessor
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Property Attached:1
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Additional Parcels:No
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Land Lease:No
Listing Agent
- Contact info:
- No listing contact info available
Taxes
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Tax Census Tract:2084.01
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Tax Tract:6795
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Tax Lot:1
The Listing
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Special Listing Conditions:Standard
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Parcel Number:5153002001
Utilities
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Sewer:Public Sewer
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Water Source:Public
The Community
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Senior Community:No
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Features:Sidewalks
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Pool:None
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Private Pool:No
Parking
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Parking Spaces:3.00
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Garage Spaces:3.00
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Transit Score®
Provided by WalkScore® Inc.
Transit Score measures a location's access to public transit. It is based on nearby transit routes frequency, type of route (bus, rail, etc.), and distance to the nearest stop on the route. Transit Scores range from 0 (Minimal Transit) to 100 (Rider’s Paradise).
Soundscore™
Provided by HowLoud
Soundscore is an overall score that accounts for traffic, airport activity, and local sources. A Soundscore rating is a number between 50 (very loud) and 100 (very quiet).
Sale history
Date | Event | Source | Price | % Change |
---|---|---|---|---|
10/15/24
Oct 15, 2024
|
Listed / Active | CRMLS_CA | $1,150,000 | 84.0% (9.1% / YR) |
5/11/22
May 11, 2022
|
Listed / Active | CRMLS_CA | ||
7/31/15
Jul 31, 2015
|
CRMLS_CA | $625,000 |