Listed by KW Commercial Calabasas
$925,000
The Burlington
Details
APN 5153002001
Property Type Multifamily
Sub Type Apartment Building
Square Footage 2,778
Units 5
Cap Rate 6.23%
NOI $51,407
Price per SqFt $342
Year Built 1923
Year Renovated 2017/2018
Buildings 2
Stories 1
Acreage 0.119
Zoning Assessor
Parking Spaces 3 spaces
Parking Per SqFt 1.08
Investment Type Owner/User
Multifamily | 5 Units | $199,600/unit
Marketing 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 experien
Investment highlights
- Ideal Owner User Property
- Delivered 40% Vacant (2 of 5 Units)
- Vacant Detached Owner User Unit
- Upgrades to Electrical, Roofing, and Plumbing - Buyer to Verify
- Charming Bungalow Style with Free Standing Owners Unit
- Within Close Proximity to Echo Park, Hollywood, Koreatown, and DTLA
- Benefits From Raised Elevation with Amazing City Views
- Surrounded by New Development and Continued Gentrification
- High Demand Rental Pocket for both Market Rate and Section 8
- Corner Lot, Secured Access, and Ideal Frontage
- 3 Garages and Clear Channel Billboard (lease)
- Amazing Value Add / Reposition Opportunity
Listing Contacts
Listed by KW Commercial Calabasas
Valuation Calculator
Login or Sign up to see Valuation Metrics
Sign up for Crexi to see valuation metrics for this property
Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$51,407.00
$4,283.92/mo
Valuation Metrics
0
DSCR
5.56%
Cap Rate
5.56%
ROI
Map
Broker Selected Comps View More Comps
Property History
Tax History
Similar Properties
Is there information that looks off?






































