307 South Burlington Avenue

Los Angeles, CA 90057

$1,300,000
Price
2
Beds
10
Baths
3,976 Sq. Ft.
$327 / Sq. Ft.
3,976
Sq. Ft.
$327
per Sq. Ft.

Description

I am pleased to offer for sale a 10-unit apartment community located at 307 South Burlington Avenue. The subject property is located south of 3rdStreet within the Westlake sub-market, which borders three thriving markets Koreatown, Downtown, and Echo Park. Situated on a 5,397 square foot parcel, the property is comprised of four singles, four studios, and two one-bedroom units. The property has 44% remaining rental upside through unit renovations. The continued gentrification of the surrounding area...I am pleased to offer for sale a 10-unit apartment community located at 307 South Burlington Avenue. The subject property is located south of 3rdStreet within the Westlake sub-market, which borders three thriving markets Koreatown, Downtown, and Echo Park. Situated on a 5,397 square foot parcel, the property is comprised of four singles, four studios, and two one-bedroom units. The property has 44% remaining rental upside through unit renovations. The continued gentrification of the surrounding area along with the value-add potential for a new owner to renovate units and achieve superior future returns moving forward makes 307 South Burlington Avenue an excellent acquisition opportunity.
  1. Listed by Sean Rosenzweig • DRE #01406343 • Brokerage DRE #01240999 • Marcus & Millichap

Property Details for 307 South Burlington Avenue

Zoning
LAC2
Parcel Number
5154022012
Total Units
10.0
Living Area
3976
Source Living Area
Assessor
Area
Downtown L.A. (C42)
Vacancy Rate
0
Lot Size Area
5397

Location

Listing Courtesy of Marcus & Millichap, Sean Rosenzweig, DRE #01406343
Add your commute
LISTING UPDATED: 04/09/2024 12:01 AM

Property Details for 307 South Burlington Avenue

StatusActive
MLS #24-374935
Days on Market32
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1925
Lot Size0.12 AC / 5,397 SF
CountyLos Angeles County

Location

Listing Courtesy of Marcus & Millichap, Sean Rosenzweig, DRE #01406343
Add your commute

Building Information for 307 South Burlington Avenue

Stories2Residences-Year Built1925Building Size-Lot Size0.12 AC / 5,397 SF

Payment Calculator

$8,353 per month

30 year fixed, 7.25% Interest

Principal and Interest

$7,095

Property Taxes

$1,258

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 307 South Burlington Avenue

Community / Development
Community / Development
  • Number Of Units: 10
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Assessor
  • Number Of Stories: 2
  • Number Of Buildings: 1
  • Type Of Units: Residential
Contract Info
Contract Info
  • Disclosures: None
  • Listing Type: Exclusive Right To Sell
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $114,368
  • Net Operating Income: $60,220.00
  • Gross Income: $117,906
  • Cap Rate: 4.63%
  • Gross Rent Multiplier: $11.03
  • Total Annual Expense: 54148
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.1239
  • Lot Size Square Feet: 5397
Parking Details
Parking Details
  • Parking Garage: None
  • Total Parking: 0
  • Parking Features: None
Interior Features
Interior Features
  • Levels: Two
  • Cooling Type: Other
  • Heating Type: Other
  • Equipment: Other
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 04-01-2024
Unit Details
Unit 1 Information
  • Unit Beds: 0
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $692.00
  • Unit Actual Rent: $692.00
  • Unit Projected Rent: $1,395.00
  • Like Units: 1
Unit 2 Information
  • Unit Beds: 0
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $681.00
  • Unit Actual Rent: $681.00
  • Unit Projected Rent: $1,395.00
  • Like Units: 1
Unit 3 Information
  • Unit Beds: 0
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,317.00
  • Unit Actual Rent: $1,317.00
  • Unit Projected Rent: $1,250.00
  • Like Units: 1
Unit 4 Information
  • Unit Beds: 0
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,200.00
  • Unit Actual Rent: $1,200.00
  • Unit Projected Rent: $1,250.00
  • Like Units: 1
Unit 5 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $880.00
  • Unit Actual Rent: $880.00
  • Unit Projected Rent: $1,750.00
  • Like Units: 1
Unit 6 Information
  • Unit Beds: 0
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,159.00
  • Unit Actual Rent: $1,159.00
  • Unit Projected Rent: $1,395.00
  • Like Units: 1
Unit 7 Information
  • Unit Beds: 0
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,264.00
  • Unit Actual Rent: $1,264.00
  • Unit Projected Rent: $1,395.00
  • Like Units: 1
Unit 8 Information
  • Unit Beds: 0
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $979.00
  • Unit Actual Rent: $979.00
  • Unit Projected Rent: $1,250.00
  • Like Units: 1
Unit 9 Information
  • Unit Beds: 0
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $771.00
  • Unit Actual Rent: $771.00
  • Unit Projected Rent: $1,250.00
  • Like Units: 1
Unit 10 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $880.00
  • Unit Actual Rent: $880.00
  • Unit Projected Rent: $1,750.00
  • Like Units: 1
Unit Details
  • Unit Type Type: 2106, 2107, 2108, 2109, 2110, 2111, 2112, 2113, 2114, 2115
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $402,074.00
  • Assessed Improvement Percent: 34.88
  • Assessed Land Value: $750,540.00
  • Assessed Land Percent: 65.12
  • Assessed Total Value: $1,152,614.00

Property History for 307 South Burlington Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 307 South Burlington Avenue

Taxable ValueLand$765,550Additions$410,715Total$1,176,265
Tax Record2023$15,092 ($1,258 / month)
Home Facts
Total Finished SqFt3,976 SqFtAbove Grade Finished SqFt3,976 SqFtLot Size5,397 SqFtStyleMulti-Family Res (5+ Units)Year Built1925ZoningLAC2CountyLOS ANGELESAPN5154-022-012

Schools near 307 South Burlington Avenue

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Public - 9 to 12
Rating
School
Distance
Union Avenue Elementary School
PublicK to 5

John H. Liechty Middle School
Public6 to 8

Edward R. Roybal Learning Center
Public9 to 12

Miguel Contreras Learning Complex School
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

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307 South Burlington Avenue is a multi-family home for sale in Los Angeles, CA 90057. This property was listed for sale on April 1, 2024 by Marcus & Millichap, it's currently listed at $1,300,000. It has been on the market for a total of 32 days and was last sold on November 6, 2017. This listing's school district is Los Angeles Unified School District. Nearby schools include Union Avenue Elementary School, John H. Liechty Middle School and Edward R. Roybal Learning Center. 307 South Burlington Avenue is a 2-bed, 10-bath, 3,976 sqft multi-family home built in 1925.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Marcus & Millichap, Sean Rosenzweig, DRE #01406343

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.