259 N Burlington Ave

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Address: 259 N Burlington Ave, Los Angeles, CA 90026, USA
Created date: April 3, 2024
Date last updated: April 10, 2024

-Rare High Vacancy Opportunity – 62% VACANT!
-8 Semi-Value-Add Units with ±30% Rental Upside!
-Priced to sell! Strong CAP Rate of about ±5.70% and ±8.40% Proforma CAP Rate
-Brand New 2B + 1B ADU recently built (Non-Rent-Control – buyer to verify) & deliverable vacant.
-Deliverable with 5 Fully Renovated Units, rent ready for immediate cashflow!
-STRONG Historic Filipino Town Rental Submarket!
-Perfectly adjacent to Echo Park Lake, East Hollywood, Koreatown, Silverlake, Chinatown and Downtown Los Angeles.
-Nearby Major Transportation Lines: Temple & Alvarado Bus Stop and easy access to 2, 101 & 110 Freeways.
-Centrally located to major employers: Dodger Stadium, Los Angeles City College, Good Samaritan Hospital, Paramount Studios, Sunset Gower Studios, Netflix Corporate Office, Los Angeles Financial and Arts District, Crypto Arena, Los Angeles Convention Center & much more.

Property Description

Brand new ADU recently built, 5 fully upgraded units will be delivered vacant Strong income in a strong rental market, Recent CAPEX completed including Parking Soft-story retrofit

Key Property Information

Listing Status: Available
Listing Type: Highest & best offer
Property Types: Apartment Buildings
Price: $2,199,000
No. of Units: 8
Cap Rate: 5.71%
GRM /GIM: 12.47
Year Built: 1960
Building Size: 5,041 Sq ft
Lot Size: 6,000.00 Sq ft
Opportunity Zone: No
Price per unit: $274,875
Address: 259 N Burlington Ave, Los Angeles, CA 90026, USA

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