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694 S Burlington Ave 32 Unit Apartment Building $4,125,000 ($128,906/Unit) 7.01% Cap Rate Los Angeles, CA 90057

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INVESTMENT HIGHLIGHTS

Mixed Use 32-Unit building located in Pico Union (26 apartments, 6 commercial)
Currently operated at a 6.68% CAP and 8.30 GRM
(6) Commercial units broken down into (6) operational retail shops

Priced at only $134k/unit and $141.83/sqft
(13) Studio/1-Bath & (13) 1Bed+1Bath units - (2) Studio/1-Bath is currently vacant
Conveniently located near Downtown Los Angeles, 10 and 110 Freeways

EXECUTIVE SUMMARY

694 S Burlington Ave is a 32-unit mixed use building
located in the Pico Union neighborhood. This
massive 30,319 sqft building is offered at only
$128k/unit and $136/sqft. The property is currently
operating at a 7.01% CAP and 7.96 GRM. There is still
over 51% upside available once the property is
stabilized. The property is individually metered for gas
and electric.
The building is comprised of (26) apartment units
and (6) Retail Spaces - consistent of (13)
1Bed+1Bath, (13) Studio+1Bath. Currently (2)
studio/1-bath units are vacant, offering immediate
upside in rental income.
694 S Burlington Ave is conveniently located just
minutes from Downtown Los Angeles, with easy
access to the 10 and 110 freeways. There are many
shops, restaurants and amenities nearby, making
this an ideal location for renters.

Offering Memorandum

FINANCIAL SUMMARY (ACTUAL - 2024)	ANNUAL	ANNUAL PER SF
Gross Rental Income	$518,121	$17.09
Other Income	$184	$0.01
Vacancy Loss	$15,544	$0.51
Effective Gross Income	$502,761	$16.58
Taxes	-	-
Operating Expenses	-	-
Total Expenses	$215,537	$7.11
Net Operating Income	$287,224	$9.47

FINANCIAL SUMMARY (ACTUAL - 2024)

Gross Rental Income
Annual	$518,121
Annual Per SF	$17.09

Other Income
Annual	$184
Annual Per SF	$0.01

Vacancy Loss
Annual	$15,544
Annual Per SF	$0.51

Effective Gross Income
Annual	$502,761
Annual Per SF	$16.58

Taxes
Annual	-
Annual Per SF	-

Operating Expenses
Annual	-
Annual Per SF	-

Total Expenses
Annual	$215,537
Annual Per SF	$7.11

Net Operating Income
Annual	$287,224
Annual Per SF	$9.47

PROPERTY FACTS

Price	$4,125,000	Apartment Style	Low-Rise
Price Per Unit	$128,906	Building Class	C
Sale Type	Investment	Lot Size	0.25 AC
Cap Rate	7.01%	Building Size	30,319 SF
Gross Rent Multiplier	7.96	Average Occupancy	96%
No. Units	32	No. Stories	3
Property Type	Multifamily	Year Built	1913
Property Subtype	Apartment	Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Zoning	C2, Los Angeles - Mixed Use - Apartments & Retail

Price	$4,125,000
Price Per Unit	$128,906
Sale Type	Investment
Cap Rate	7.01%
Gross Rent Multiplier	7.96
No. Units	32
Property Type	Multifamily
Property Subtype	Apartment
Apartment Style	Low-Rise
Building Class	C
Lot Size	0.25 AC
Building Size	30,319 SF
Average Occupancy	96%
No. Stories	3
Year Built	1913
Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Zoning	C2, Los Angeles - Mixed Use - Apartments & Retail