Listing Agent: Jared Levine      Broker/Office: Keller Williams Realty Calabasas
272 Burlington Avenue S Los Angeles CA 90057
$ 998,000
  2   |    1   |    2778 Sq Feet

Listing ID

#SR25160896

Status

Active

Property Type

Single Family Residence

County

Los Angeles

Year Built

1923

Days on website

2

Description
Owner User Opportunity with Vacant freestanding 2+1 Bungalow with 4 additional 1+1 Bungalows. Property is 40% vacant (2 of 5 units). 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.
Location
Financial Information
List Price:  $ 998000
Property Features
Community Features:  Curbs
High School District:  Los Angeles Unified
Levels:  One
Senior Community YN:  false
Structure Type:  House
Water Source:  Public
High School District:  Los Angeles Unified
Senior Community YN:  false
MLS Area Major:  C21 - Silver Lake - Echo Park
City:  Los Angeles
Listed By:   Jared Levine   Keller Williams Realty Calabasas 
CA Lic#