272 S Burlington, Los Angeles, CA 90057
272 S Burlington, Los Angeles, CA 90057
272 S Burlington, Los Angeles, CA 90057
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The Warburton Team Brokered By EXp

The Warburton Team Brokered By EXp

+1(626) 630-2141
$925,000
Est. payment /mo
5,170 Sqft Lot
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Key Details

Property Type Apartment

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

MLS Listing ID SR26092878

HOA Y/N No

Year Built 1923

Lot Size 5,170 Sqft

Property Sub-Type Apartment

Property Description

40% Vacant (2 of 5 units) including Vacant Detached 2+1 Owner User Unit - As the exclusive listing agent, is 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 2,778SF, sitting on an elevated corner lot with a detached owner-user unit and city views. The Burlington offers an investor a significant value-add opportunity with approximately 30% (+/-) 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 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 hot spots. 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

Location

State CA

County Los Angeles

Area C17 - Mid-Wilshire

Interior

Fireplace No

Laundry None

Exterior

Garage Spaces 3.0

Garage Description 3.0

Pool None

Community Features Sidewalks

Total Parking Spaces 3

Private Pool No

Building

Lot Description Corner Lot

Story 1

Sewer Public Sewer

Water Public

New Construction No

Others

Senior Community No

Tax ID 5153002001

Acceptable Financing Cash, Cash to New Loan, 1031 Exchange

Listing Terms Cash, Cash to New Loan, 1031 Exchange

Special Listing Condition Standard

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Listed by Jared Levine Keller Williams Realty Calabasas jared@jaredmlevine.com, DRE #01804008

NEARBY SCHOOL & BUSINESS

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