16
See all 16 photos
$4,350,000
Est. payment /mo
18 Beds
14 Baths
6,874 SqFt
New
161 S Burlington AVE Los Angeles, CA 90057
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Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 6,874 sqft
Price per Sqft $632
MLS Listing ID 26783621
Bedrooms 18
HOA Y/N No
Year Built 1950
Lot Size 8,285 Sqft
Property Description
Huge ~500k Price Reduction! Once in a lifetime 100% Fully Renovated 14-unit apartment building cash flowing at an amazing 6.5% Cap Rate from day 1! Plans to add 8 detached ADUs to achieve a remarkable 9.1% Cap Rate after taking into account all construction costs (~775k assuming $300/SF). All 14 units have been completely vacated and remodeled, boasting a high-end aesthetic with new modern cabinets, flooring, lighting, new bathrooms, HVAC systems as well as major exterior capital improvements. Diverse unit mix of 8 (1bed/1bath) units, and 4 (2bed/1bath) units. Additionally, the major systems have been updated, including electrical, plumbing, windows, etc. Individually Metered for Gas & Electricity. Large 8,283 SF R4-1 Lot TOC Tier 2 with future development potential. This property is located in the trendy & historic Filipino Town just minutes away from Echo Park, Silverlake, DTLA as well as many hip neighborhood attractions, restaurants, bars, and shops such as Brooklyn Bagel Bakery, Boba Guys - Rideback Ranch, HiFi Kitchen, and Laveta Coffee, popping up all around the area.
Location
State CA
County Los Angeles
Area C42 - Downtown L.A.
Zoning LAR4
Interior
Heating Wall Furnace
Fireplace No
Exterior
Parking Features Gated
Total Parking Spaces 6
Building
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 5154001012
Special Listing Condition Standard
Listed by Julio Ruiz Global Platinum Properties, Inc. #01911261
NEARBY SCHOOL & BUSINESS
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