161 S Burlington Avenue, Los Angeles, CA 90057
- $4,050,000
- 18
- BD
- 14
- BA
- 6,874
- SqFt
- List Price
- $4,050,000
- Price Change
- ▼ $150,000 1785387147
- Status
- ACTIVE
- MLS#
- 26852471
- Year Built
- 1950
- Bedrooms
- 18
- Bathrooms
- 14
- Living Sq. Ft
- 6,874
- Lot Size
- 8,286
- Acres
- 0.19
- Days on Market
- 36
- Property Type
- Multifamily
- Stories
- Two Levels
Property Description
Huge ~750k Price Reduction! Once in a lifetime 100% Fully Renovated 14-unit apartment building cash flowing at an amazing 7% Cap Rate from day 1! Plans to add 8 detached ADUs to achieve a remarkable 9.75% 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.
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Additional Information
- Heat
- Wall Furnace
- Attached Structure
- Detached
- Number Of Units Total
- 14
Listing courtesy of Listing Agent: Julio Ruiz (ziuroiluj@gmail.com) from Listing Office: Global Platinum Properties, Inc..
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