4233 Burns Avenue

Los Angeles, CA 90029

$8,450,000
Price
27
Beds
28
Baths
15,444 Sq. Ft.
$547 / Sq. Ft.
15,444
Sq. Ft.
$547
per Sq. Ft.

Description

KW Commerical is pleased to present 4233 Burns Avenue, Los Angeles -- a special 28-unit Apartment Community in the highly desirable Virgil Village sub-market and just half a mile from the Sunset Junction. 4233 Burns Avenue is an attractive Courtyard-style property. The unit mix boasts Twenty-Seven (27) large One-Bedroom units and One (1) spacious Studio Apartment. Current ownership has updated and remodeled 14 of the 28 units. Upgrades include new hardwood laminate flooring, new modern kitchens with...KW Commerical is pleased to present 4233 Burns Avenue, Los Angeles -- a special 28-unit Apartment Community in the highly desirable Virgil Village sub-market and just half a mile from the Sunset Junction. 4233 Burns Avenue is an attractive Courtyard-style property. The unit mix boasts Twenty-Seven (27) large One-Bedroom units and One (1) spacious Studio Apartment. Current ownership has updated and remodeled 14 of the 28 units. Upgrades include new hardwood laminate flooring, new modern kitchens with granite or quartz countertops, new custom kitchen cabinets, and high-end stainless steel appliances. The bathrooms were tastefully updated with modern vanities, LED Smart Mirrors, and designer tile and finishes throughout. Current ownership has provided a proven model and opportunity to increase rents by over 40% as units turn naturally. Other amenities include a private gate and intercom entry, an onsite washer/dryer room, and 26 parking spaces. 4233 Burns Avenue is not on the LA City mandatory seismic retrofit list. The property offers a combination of modern living and relaxed comfort while centrally located in one of LA's most engaging and diverse neighborhoods. Virgil Village is a trendy neighborhood with creative vibes, artful boutiques, and inventive eateries. Tenants are close to Sqirl, The Virgil, the Smog Cutter, Courage Bagel, Cafecito Organico, and Virgil Normal. Located between the hotspots of Hollywood and Silverlake, it offers down-to-earth cool with unbeatable access to the best areas in the city. With attractive in-place metrics and plenty of upside, 4233 Burns Avenue is a perfect opportunity to secure a generational asset in one of LA's hottest and "up-and-coming" neighborhoods.
  1. Listed by Nick Astrupgaard • DRE #01893466 • Brokerage DRE #01458187 • KW Commercial Studio City
  2. Listed by Rich Johns • DRE #01432215 • Brokerage DRE #01458187 • KW Commercial Studio City

Property Details for 4233 Burns Avenue

Zoning
LARD1.5
Parcel Number
5539007022
Total Units
28.0
Living Area
15444
Source Living Area
Vendor Enhanced
Area
Silver Lake (671)
Vacancy Rate
8%
Lot Size Area
20837

Location

Listing Courtesy of KW Commercial Studio City, Nick Astrupgaard, DRE #01893466; KW Commercial Studio City, Rich Johns, DRE #01432215
Add your commute
LISTING UPDATED: 04/10/2024 12:01 AM

Property Details for 4233 Burns Avenue

StatusActive
MLS #24-375655
Days on Market30
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1953
Lot Size0.48 AC / 20,837 SF
CountyLos Angeles County

Location

Listing Courtesy of KW Commercial Studio City, Nick Astrupgaard, DRE #01893466; KW Commercial Studio City, Rich Johns, DRE #01432215
Add your commute

Building Information for 4233 Burns Avenue

Stories2Residences-Year Built1953Building Size-Lot Size0.48 AC / 20,837 SF

Payment Calculator

$53,012 per month

30 year fixed, 7.25% Interest

Principal and Interest

$46,115

Property Taxes

$6,897

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 4233 Burns Avenue

Community / Development
Community / Development
  • Number Of Units: 28
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 2
  • Number Of Buildings: 1
  • Type Of Units: Apartments
Contract Info
Contract Info
  • Disclosures: As Is
  • Listing Type: Exclusive Right To Sell
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $579,489
  • Net Operating Income: $418,297.00
  • Gross Income: $588,304
  • Gross Rent Multiplier: $14.40
  • Total Annual Expense: 161183
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.4784
  • Lot Size Square Feet: 20837
  • Lot Size Dimensions: 130x155
  • Source Lot Size Dimensions: Vendor Enhanced
Parking Details
Parking Details
  • Parking Garage: Other
  • Total Parking: 26
Interior Features
Interior Features
  • Levels: Multi/Split
  • Cooling Type: Other
  • Heating Type: Other
  • Equipment: Other
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 04-02-2024
Unit Details
Unit 1 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,691.00
  • Unit Actual Rent: $45,654.00
  • Unit Projected Rent: $65,785.00
  • Like Units: 27
Unit 2 Information
  • Unit Beds: 0
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $622.00
  • Unit Actual Rent: $622.00
  • Unit Projected Rent: $1,700.00
  • Like Units: 1
Unit Details
  • Unit Type Type: 2106, 2107
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $3,062,207.00
  • Assessed Improvement Percent: 45.9
  • Assessed Land Value: $3,609,031.00
  • Assessed Land Percent: 54.1
  • Assessed Total Value: $6,671,238.00

Property History for 4233 Burns 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 4233 Burns Avenue

Taxable ValueLand$3,609,031Additions$3,064,007Total$6,673,038
Tax Record2023$82,763 ($6,897 / month)
Home Facts
Total Finished SqFt15,444 SqFtAbove Grade Finished SqFt15,444 SqFtLot Size20,831 SqFtStyleMulti-Family Res (5+ Units)Year Built1953ZoningLARD1.5CountyLOS ANGELESAPN5539-007-022

Schools near 4233 Burns Avenue

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

Thomas Starr King Middle School
Public6 to 8

John Marshall Senior High 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.

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4233 Burns Avenue is a multi-family home for sale in Los Angeles, CA 90029. This property was listed for sale on April 2, 2024 by KW Commercial Studio City, it's currently listed at $8,450,000. It has been on the market for a total of 30 days and was last sold on December 5, 2017. This listing's school district is Los Angeles Unified School District. Nearby schools include Lockwood Avenue Elementary School, Thomas Starr King Middle School and John Marshall Senior High School. 4233 Burns Avenue is a 27-bed, 28-bath, 15,444 sqft multi-family home built in 1953.

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 KW Commercial Studio City, Nick Astrupgaard, DRE #01893466; KW Commercial Studio City, Rich Johns, DRE #01432215

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.