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    2037 S Burnside Avenue

    Los Angeles (City), CA 90016
    • $1,025,000
    • STATUS: Active Under Contract
    • ON SITE: 30 days
    • ID#: 21685780
    Under Contract
    UPDATED: 72 min ago
    $1,025,000
    • 0
      BEDS
    • 0.13
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 3,296
      SQFT
    • $311
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1963
    County:

    School Ratings & Info

    Description

    Built in 1963, this fourplex totals 3,296 SF and is located in Mid-City, just south of Washington Blvd. The building features a unit mix of one one-bedroom and three two-bedroom apartments with laundry in each unit. This offering presents an investor the opportunity to acquire a value-add asset with 61% rental upside and a pro forma CAP rate of 7.29% after renovations when the units turn. The property is being offered at a low price per square foot of $311 and a low price per unit of $256,250. Ease of management as gas and electric are separately metered. Furthermore, there are 8 parking spaces total, four in the front and four in the back. Mid-city is a densely populated neighborhood with historical and architectural significance. The demand for apartment units in this neighborhood continues to increase year-over-year due to the centralized location with convenient access to the 10.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2021-02-27T21:27:31.21. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Cory Home Team | eXp Realty of California Inc. Licensed in the State of California, USA.

    www.searchcaliforniahomes.net/homes/113673334
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    2037 S Burnside Avenue Los Angeles (City), CA 90016

    • Price: $1,025,000
    • Status: Active Under Contract
    • Updated: 72 min ago
    • ID#: 21685780
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.13
    Acres
    3,296
    SQFT
    $311
    $/SQFT
    1963
    Built
    Neighborhood:
    C16 - Mid Los Angeles
    County:
    Los Angeles
    Area:
    C16 - Mid Los Angeles
    Property Description
    Built in 1963, this fourplex totals 3,296 SF and is located in Mid-City, just south of Washington Blvd. The building features a unit mix of one one-bedroom and three two-bedroom apartments with laundry in each unit. This offering presents an investor the opportunity to acquire a value-add asset with 61% rental upside and a pro forma CAP rate of 7.29% after renovations when the units turn. The property is being offered at a low price per square foot of $311 and a low price per unit of $256,250. Ease of management as gas and electric are separately metered. Furthermore, there are 8 parking spaces total, four in the front and four in the back. Mid-city is a densely populated neighborhood with historical and architectural significance. The demand for apartment units in this neighborhood continues to increase year-over-year due to the centralized location with convenient access to the 10.
    Exterior Features

    Foundation Details Slab Lot Size Units Square Feet Parking Features Driveway Parking YN Yes

    Interior Features

    Flooring WoodTileCarpet

    Property Features

    Additional Parcels YN No Country Us Gross Income 65568.00 Gross Multiplier 15.63 Gross Operating Income 62290.00 Net Operating Income 38580.00 Senior Community YN No Special Listing Conditions Standard Total Expenses 23710.00 Zoning Rd1.5-1

    Listing provided courtesy of Neema Ahadian of Marcus & Millichap


    Based on information from California Regional Multiple Listing Service, Inc. as of 2021-02-27T21:27:31.21. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Cory Home Team | eXp Realty of California Inc. Licensed in the State of California, USA.

     
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    Cory Home Team | eXp Realty of California Inc
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    Temecula CA, 92590