161 S Burlington Avenue
Property Overview
Huge ~600k Price Reduction! Once in a lifetime 100% Fully Renovated 14-unit apartment building cash flowing at an amazing 6.75% Cap Rate from day 1! Plans to add 8 detached ADUs to achieve a remarkable 9.4% Cap Rate after taking into account all construction costs (~775k assuming $300/SF). All 14 units have been completely vacated and remodeled, boasting a high-end aesthetic with new modern cabinets, flooring, lighting, new bathrooms, HVAC systems as well as major exterior capital improvements. Diverse unit mix of 8 (1bed/1bath) units, and 4 (2bed/1bath) units. Additionally, the major systems have been updated, including electrical, plumbing, windows, etc. Individually Metered for Gas & Electricity. Large 8,283 SF R4-1 Lot TOC Tier 2 with future development potential. This property is located in the trendy & historic Filipino Town just minutes away from Echo Park, Silverlake, DTLA as well as many hip neighborhood attractions, restaurants, bars, and shops such as Brooklyn Bagel Bakery, Boba Guys - Rideback Ranch, HiFi Kitchen, and Laveta Coffee, popping up all around the area.
Home Details
- Property type
- Residential Income
- Year built
- 1950
- Living area
- 6,874 sq ft
- Lot size
- 8,286 sq ft
- Parking
- 6 spaces
- Days on market
- 8
- MLS status
- Active
Location & Neighborhood
Frequently Asked Questions About 161 S Burlington Avenue
Property type: Residential Income
What clients say
“Reza was the best agent we have ever worked with.”Russell & Susan McQueen
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