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$ 3,900,000
Est. payment /mo
Active
694 S Burlington AVE Los Angeles, CA 90057
0.52 Acres Lot
UPDATED:
Key Details
Property Type Single Family Home, Multi-Family
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
MLS Listing ID SB26135648
HOA Y/N No
Year Built 1913
Lot Size 0.517 Acres
Property Sub-Type Mixed Use
Property Description
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 $122k/unit and $129/sqft. The property is currently operating at a 7.72% CAP and 7.25 GRM. There is still over 56%+ upside available once the property is stabilized. The property is individually metered for gas and electric.
The property is comprised of 26 apartment units and 6 commercial spaces, consisting of (13) 1Bed+1Bath units, (13) Studio+1Bath units, and multiple ground-floor retail/commercial tenants. Current scheduled income is approximately $533,762 annually, with market scheduled income projected at approximately $839,606 annually once stabilized. At market rents, the property projects to a 15.22% CAP and 4.65 GRM, offering an investor a clear path to substantial future income growth.
694 S Burlington Ave is individually metered for gas and electric, helping reduce utility exposure and improve operating efficiency. Currently, two studio units are being delivered vacant, allowing a buyer to immediately renovate, lease at market rents, and capture upside right away. The building also benefits from diversified income through both residential and retail tenancy, reducing reliance on one income source.
The property is comprised of 26 apartment units and 6 commercial spaces, consisting of (13) 1Bed+1Bath units, (13) Studio+1Bath units, and multiple ground-floor retail/commercial tenants. Current scheduled income is approximately $533,762 annually, with market scheduled income projected at approximately $839,606 annually once stabilized. At market rents, the property projects to a 15.22% CAP and 4.65 GRM, offering an investor a clear path to substantial future income growth.
694 S Burlington Ave is individually metered for gas and electric, helping reduce utility exposure and improve operating efficiency. Currently, two studio units are being delivered vacant, allowing a buyer to immediately renovate, lease at market rents, and capture upside right away. The building also benefits from diversified income through both residential and retail tenancy, reducing reliance on one income source.
Location
State CA
County Los Angeles
Area C42 - Downtown L.A.
Interior
Fireplace No
Laundry See Remarks
Exterior
Garage Spaces 3.0
Garage Description 3.0
Pool None
Community Features Suburban
Total Parking Spaces 3
Private Pool No
Building
Lot Description 0-1 Unit/Acre
Story 3
Sewer Public Sewer
Water Public
New Construction No
Others
Senior Community No
Tax ID 5142011013
Acceptable Financing Cash, Cash to New Loan, Conventional, 1031 Exchange
Listing Terms Cash, Cash to New Loan, Conventional, 1031 Exchange
Special Listing Condition Standard
Listed by Cameron Samimi Lyon Stahl Investment Real Estate, Inc. 310-259-7556, DRE #02035763
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