Log In/Sign Up
Your email has been sent.
14 Renovated Units 6.25% Cap w upside 8.5% 161 S Burlington Ave 14 Unit Apartment Building $4,670,000 ($333,571/Unit) 6.25% Cap Rate Los Angeles, CA 90057
Investment Highlights
- Fully renovated 14-unit apartment building with immediate 6.25%cap rate income.
- All units renovated with high-end finishes, modern appliances, and updated major systems; 8 one-bed and 4 two-bed units.
- Prime neighborhood with development potential and access to popular local amenities, restaurants, and shops.
- Plans to add 8 detached ADUs, increasing projected cap rate to 8.2% after construction (~$775k).
- Located on a large 8,283 SF R4-1 lot in trendy Filipino Town, near Echo Park, Silverlake, DTLA.
Executive Summary
Price Reduction! Once in a lifetime 100% Fully Renovated 14-unit apartment building cash flowing at an amazing 6.25% Cap Rate from day 1! Plans to add 8 detached ADUs to achieve a remarkable 8.5% 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.
Property Facts
| Price | $4,670,000 | Apartment Style | Low-Rise |
| Price Per Unit | $333,571 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.19 AC |
| Cap Rate | 6.25% | Building Size | 6,874 SF |
| Gross Rent Multiplier | 11.6 | Average Occupancy | 97% |
| No. Units | 14 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1950/2023 |
| Property Subtype | Apartment | Parking Ratio | 0.29/1,000 SF |
| Zoning | R4, Los Angeles - restricted Density Multiple Dwelling | ||
| Price | $4,670,000 |
| Price Per Unit | $333,571 |
| Sale Type | Investment |
| Cap Rate | 6.25% |
| Gross Rent Multiplier | 11.6 |
| No. Units | 14 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.19 AC |
| Building Size | 6,874 SF |
| Average Occupancy | 97% |
| No. Stories | 2 |
| Year Built/Renovated | 1950/2023 |
| Parking Ratio | 0.29/1,000 SF |
| Zoning | R4, Los Angeles - restricted Density Multiple Dwelling |
Amenities
Unit Amenities
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
Site Amenities
- 24 Hour Access
- Fenced Lot
- Gated
- Walk-Up
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 4 | - | - |
| 1+1 | 10 | - | - |
1 1
Walk Score®
Walker's Paradise (90)
Transit Score®
Excellent Transit (72)
Property Taxes
| Parcel Number | 5154-001-012 | Improvements Assessment | $967,874 |
| Land Assessment | $1,093,645 | Total Assessment | $2,061,519 |
Property Taxes
Parcel Number
5154-001-012
Land Assessment
$1,093,645
Improvements Assessment
$967,874
Total Assessment
$2,061,519
1 of 18
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
1 of 1
Presented by
14 Renovated Units 6.25% Cap w upside 8.5% | 161 S Burlington Ave
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.
Your message has been sent!
Activate your LoopNet account now to track properties, get real-time alerts, save time on future inquiries, and more.