2037 S Burnside Ave, Los Angeles, CA 90016

$1,200,000
8
BD
4
BA
3,296
SqFt
Sold Price
$1,200,000
List Price
$1,025,000
Closing Date
Apr 07, 2021
MLS#
21-685780
Status
SOLD
Type
Multifamily
Bedrooms
8
Bathrooms
4
Living Area
3,296

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.

Additional Information

Year Built
1963
Garage
Driveway

Mortgage Calculator

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Calculator source: Real Geeks

Courtesy of Marcus & Millichap, Neema Ahadian. Selling Office: .

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