161 S Burlington Avenue

Los Angeles , CA 90057

MLS#: 25628853

$4,795,000

Status: Active
Listing number: 25628853
Listing provided by: Global Platinum Properties, Inc.
Listing agent phone: None
Last update: 4 days ago
On site: 4 days ago
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Property

Beds

18

Full Baths

None

1/2 Baths

None

Year Built

1950

Sq.Footage

6,874

Once in a lifetime 100% Fully Renovated 14-unit apartment building cash flowing at an amazing 6% Cap Rate from day 1! Plans to add 8 detached ADUs to achieve a remarkable 8.2% 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.

Features & Amenities

Interior

  • Total Bedrooms

    18

  • Bathrooms

    N/A

  • Heating YN

    YES

  • Heating

    Wall Furnace

  • Pet friendly

    N/A

Exterior

  • Garage

    No

  • Parking

    Gated

  • Pool

    No

Area & Lot

  • Lot Size(acres)

    0.1902

  • Property Type

    Residential Income

Price

  • Sales Price

    $4,795,000

  • Sq. Footage

    6, 874

  • Price/SqFt

    $697

HOA

  • Association

    No

School District

  • Elementary School

    N/A

  • Middle School

    N/A

  • High School

    N/A

Property Features

  • Stories

    2

  • Senior Community YN

    NO

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Listing Courtesy of Armin Soleimani , Global Platinum Properties, Inc.

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Once in a lifetime 100% Fully Renovated 14-unit apartment building cash flowing at an amazing 6% Cap Rate from day 1! Plans to add 8 detached ADUs to achieve a remarkable 8.2% 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.

161 S Burlington Avenue

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