Log In/Sign Up
Your email has been sent.
4315 Burns Ave 14 Unit Apartment Building $2,850,000 ($203,571/Unit) 6.78% Cap Rate Los Angeles, CA 90029
Investment Highlights
- The government-required seismic retrofit work has already been completed, saving a new investor substantial capital and time.
- Operating at a 6.78% scheduled cap rate and a 9.67 gross rent multiplier.
- The Metro B Line's Vermont/Santa Monica station sits a third of a mile northwest, with the 101 Freeway at Vermont Avenue about half a mile away.
- Approximately 12% rental upside remains, capturable through ordinary turnover.
- A Walk Score of 91. Courage Bagels and Sqirl sit a quarter mile south, The Virgil a quarter mile north, Sunset Junction half a mile northeast.
- LA City College sits a quarter mile west, with Children's Hospital LA and Kaiser Permanente's LA Medical Center both under a mile northwest.
Executive Summary
The SR Group of Marcus & Millichap, as the exclusive listing agent, is pleased to offer for sale 4315 Burns Avenue, a 14-unit apartment community located in the Virgil Village neighborhood of Los Angeles, just west of Virgil Avenue.
Built in 1964, the property comprises 9,450 square feet of improvements in a single two-story building on a 9,599-square-foot parcel, with parking and laundry on site. The unit mix consists of nine one-bedroom units, two two-bedroom units, two single units and one bachelor unit. The government-required seismic retrofit has been completed. The property delivers strong in-place yield at a 6.78% scheduled cap rate and a 9.67 gross rent multiplier, with approximately 12% rental upside remaining, capturable through ordinary turnover.
With a Walk Score of 91, daily errands do not require a car. Courage Bagels and Sqirl sit within a quarter mile south on Virgil Avenue, and The Virgil, a live music and comedy venue, about a quarter mile north on Santa Monica Boulevard. Sunset Junction lies just over half a mile northeast, and Silver Lake, Los Feliz and East Hollywood all border the neighborhood. The Metro B Line’s Vermont/Santa Monica station sits about a third of a mile northwest, and the 101 Freeway meets Vermont Avenue about half a mile northwest. The employment base is anchored by education and healthcare, with Los Angeles City College just over a quarter mile west, Children’s Hospital Los Angeles about three-quarters of a mile northwest and Kaiser Permanente Los Angeles Medical Center less than a mile northwest.
4315 Burns Avenue offers investors an opportunity to acquire a stabilized asset in Virgil Village, one of the most centrally positioned residential neighborhoods in the city and one that continues to gentrify.
PLEASE DO NOT WALK THE PROPERTY OR DISRUPT TENANTS. CONTACT THE LISTING TEAM FOR DETAILS.
Built in 1964, the property comprises 9,450 square feet of improvements in a single two-story building on a 9,599-square-foot parcel, with parking and laundry on site. The unit mix consists of nine one-bedroom units, two two-bedroom units, two single units and one bachelor unit. The government-required seismic retrofit has been completed. The property delivers strong in-place yield at a 6.78% scheduled cap rate and a 9.67 gross rent multiplier, with approximately 12% rental upside remaining, capturable through ordinary turnover.
With a Walk Score of 91, daily errands do not require a car. Courage Bagels and Sqirl sit within a quarter mile south on Virgil Avenue, and The Virgil, a live music and comedy venue, about a quarter mile north on Santa Monica Boulevard. Sunset Junction lies just over half a mile northeast, and Silver Lake, Los Feliz and East Hollywood all border the neighborhood. The Metro B Line’s Vermont/Santa Monica station sits about a third of a mile northwest, and the 101 Freeway meets Vermont Avenue about half a mile northwest. The employment base is anchored by education and healthcare, with Los Angeles City College just over a quarter mile west, Children’s Hospital Los Angeles about three-quarters of a mile northwest and Kaiser Permanente Los Angeles Medical Center less than a mile northwest.
4315 Burns Avenue offers investors an opportunity to acquire a stabilized asset in Virgil Village, one of the most centrally positioned residential neighborhoods in the city and one that continues to gentrify.
PLEASE DO NOT WALK THE PROPERTY OR DISRUPT TENANTS. CONTACT THE LISTING TEAM FOR DETAILS.
Data Room Click Here to Access
Property Facts
| Price | $2,850,000 | Apartment Style | Low-Rise |
| Price Per Unit | $203,571 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.22 AC |
| Cap Rate | 6.78% | Building Size | 9,450 SF |
| Gross Rent Multiplier | 9.67 | No. Stories | 2 |
| No. Units | 14 | Year Built | 1964 |
| Property Type | Multifamily | Parking Ratio | 1.27/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | RD1.5-1XL | ||
| Price | $2,850,000 |
| Price Per Unit | $203,571 |
| Sale Type | Investment |
| Cap Rate | 6.78% |
| Gross Rent Multiplier | 9.67 |
| No. Units | 14 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.22 AC |
| Building Size | 9,450 SF |
| No. Stories | 2 |
| Year Built | 1964 |
| Parking Ratio | 1.27/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | RD1.5-1XL |
Amenities
Unit Amenities
- Heating
- Kitchen
- Oven
- Range
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 3 | - | 550 |
| 1+1 | 9 | - | 650 |
| 2+2 | 2 | - | 750 |
1 1
Very walkable
80/100
Moderately drivable
70/100
Strong public transit
80/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 5539-008-020 | Improvements Assessment | $851,238 |
| Land Assessment | $203,031 | Total Assessment | $1,054,269 |
Property Taxes
Parcel Number
5539-008-020
Land Assessment
$203,031
Improvements Assessment
$851,238
Total Assessment
$1,054,269
1 of 8
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
1 of 1
Contact the Sale Advisor
4315 Burns Ave