161 S Burlington AVE, Los Angeles, CA 90057
161 S Burlington AVE, Los Angeles, CA 90057
161 S Burlington AVE, Los Angeles, CA 90057
161 S Burlington AVE, Los Angeles, CA 90057
161 S Burlington AVE, Los Angeles, CA 90057
161 S Burlington AVE, Los Angeles, CA 90057
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Preet Sandhu

Preet Sandhu

+1(559) 907-9993
$ 3,995,000
Est. payment | /mo

18 Beds

14 Baths

6,874 SqFt

Save
$ 3,995,000
Est. payment | /mo
Save

18 Beds

14 Baths

6,874 SqFt

Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Square Footage 6,874 sqft

Price per Sqft $581

MLS Listing ID 26104100

Bedrooms 18

HOA Y/N No

Year Built 1950

Lot Size 8,285 Sqft

Property Description

Huge ~800k Price Reduction! Once in a lifetime 100% Fully Renovated 14-unit apartment building cash flowing at an amazing 7.25% Cap Rate from day 1! Plans to add 8 detached ADUs to achieve a remarkable 9.6% 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.

Location

State CA

County Los Angeles

Area C42 - Downtown L.A.

Zoning LAR4

Interior

Heating Wall Furnace

Fireplace No

Exterior

Parking Features Gated

Total Parking Spaces 6

Building

Entry Level Two

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 5154001012

Special Listing Condition Standard

CRMLS Full IDX Feed (MAIN Website Search)
Listed by Julio Ruiz Global Platinum Properties, Inc. #01911261

Nearby Locations

Preet Sandhu

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(559) 907-9993

preet@riserealtyca.com

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161 S Burlington AVE

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