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Active
272 S Burlington AVE Los Angeles, CA 90057
5,172 Sqft Lot
UPDATED:
11/13/2024 08:36 PM
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRSR24214257
Originating Board California Regional MLS
Year Built 1923
Lot Size 5,172 Sqft
Property Description
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 Lo
Location
State CA
County Los Angeles
Area C21 - Silver Lake - Echo Park
Interior
Laundry None
Exterior
Garage Spaces 3.0
Pool None
Building
Water District - Public
Others
Tax ID 5153002001
Special Listing Condition Not Applicable
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Listed by Jared Levine • Keller Williams Realty Calabasas