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428-434 S Burlington Ave ave 18 Unit Apartment Building $2,450,000 ($136,111/Unit) 6.15% Cap Rate Los Angeles, CA 90057
Investment Highlights
- Multiple Vacant Units – The property will be delivered with two vacant units allowing a new owner to achieve market rents upon renovating the units.
- Strong Day-One Income with Upside – The property is generating strong income with reliable tenants and substantial rental growth opportunity.
- Prime Westlake Location – Close proximity to local retail, schools, and major employment centers, with convenient access to the 110 and 101 freeways
- Value-Add & Development Potential – Multiple garages are ideal for ADU conversion or large lot for ground up development.
- Desirable Courtyard Layout with 100% Bungalow Style Units – The layout of both buildings is extremely attractive for tenants.
- Attractive Parking & Amenities – Includes 18 garages, 1 open parking space, and on-site laundry facilities.
Executive Summary
428-434 S. Burlington Ave presents an exceptional multifamily investment opportunity in the heart of Westlake, one of Los Angeles’ most vibrant and rapidly evolving neighborhoods. Situated on an expansive 27,000+ square foot lot across two parcels, the property consists of 18 apartment units and offers multiple paths for value creation.
For investors seeking a value-add opportunity, significant upside exists through the potential construction of ADUs. The property also includes 18 garages and one open parking space that generates additional income, along with an on-site laundry facility for tenant convenience.
This site also holds tremendous appeal for developers. With Tier 3 TOC density bonuses, a buyer could potentially build up to 122 units, with the possibility of even greater density under the ED-1 program (buyer to verify). The central location provides excellent access to Downtown Los Angeles, Echo Park, and Koreatown, areas known for strong rental demand and continued neighborhood growth.
Whether pursued as a ground-up development or as a value-add investment, 428-434 S. Burlington Ave represents a rare opportunity with substantial potential.
For investors seeking a value-add opportunity, significant upside exists through the potential construction of ADUs. The property also includes 18 garages and one open parking space that generates additional income, along with an on-site laundry facility for tenant convenience.
This site also holds tremendous appeal for developers. With Tier 3 TOC density bonuses, a buyer could potentially build up to 122 units, with the possibility of even greater density under the ED-1 program (buyer to verify). The central location provides excellent access to Downtown Los Angeles, Echo Park, and Koreatown, areas known for strong rental demand and continued neighborhood growth.
Whether pursued as a ground-up development or as a value-add investment, 428-434 S. Burlington Ave represents a rare opportunity with substantial potential.
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$265,639
|
$18.89
|
| Other Income |
$12,222
|
$0.87
|
| Vacancy Loss |
$7,969
|
$0.57
|
| Effective Gross Income |
$269,892
|
$19.19
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$119,256
|
$8.48
|
| Net Operating Income |
$150,636
|
$10.71
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $265,639 |
| Annual Per SF | $18.89 |
| Other Income | |
|---|---|
| Annual | $12,222 |
| Annual Per SF | $0.87 |
| Vacancy Loss | |
|---|---|
| Annual | $7,969 |
| Annual Per SF | $0.57 |
| Effective Gross Income | |
|---|---|
| Annual | $269,892 |
| Annual Per SF | $19.19 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $119,256 |
| Annual Per SF | $8.48 |
| Net Operating Income | |
|---|---|
| Annual | $150,636 |
| Annual Per SF | $10.71 |
Property Facts
| Price | $2,450,000 | Apartment Style | Low-Rise |
| Price Per Unit | $136,111 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.63 AC |
| Cap Rate | 6.15% | Building Size | 11,750 SF |
| Gross Rent Multiplier | 8.82 | Average Occupancy | 89% |
| No. Units | 18 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1939 |
| Property Subtype | Apartment | Parking Ratio | 1.62/1,000 SF |
| Zoning | LAR4 | ||
| Price | $2,450,000 |
| Price Per Unit | $136,111 |
| Sale Type | Investment |
| Cap Rate | 6.15% |
| Gross Rent Multiplier | 8.82 |
| No. Units | 18 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.63 AC |
| Building Size | 11,750 SF |
| Average Occupancy | 89% |
| No. Stories | 1 |
| Year Built | 1939 |
| Parking Ratio | 1.62/1,000 SF |
| Zoning | LAR4 |
Amenities
Unit Amenities
- Air Conditioning
- Storage Space
- Heating
- Tub/Shower
- Freezer
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 1 | $1,500 | - |
| 1+1 | 16 | $1,155 | - |
| 2+1 | 1 | $2,500 | - |
1 1
Walk Score®
Walker's Paradise (92)
Transit Score®
Excellent Transit (87)
Property Taxes
| Parcel Numbers | Improvements Assessment | $212,339 | |
| Land Assessment | $186,069 | Total Assessment | $398,408 |
Property Taxes
Parcel Numbers
Land Assessment
$186,069
Improvements Assessment
$212,339
Total Assessment
$398,408
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428-434 S Burlington Ave ave
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