Skip To Content

    2037 S Burnside Ave

    Los Angeles, CA 90016
    • $1,025,000
    • STATUS: Active Under Contract
    • ON SITE: 74 days
    • ID#: 21-685780
    Under Contract
    UPDATED: 46 min ago
    $1,025,000
    • 8
      BEDS
    • 0.13
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 3,296
      SQFT
    • $311
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1963
    County:

    School Ratings & Info

    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.

    Monthly Payment Calculator



    Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-04-12T10:42:42.117. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
    www.thepayabgroup.com/homes/113671636
    Print Image

    2037 S Burnside Ave Los Angeles, CA 90016

    • Price: $1,025,000
    • Status: Active Under Contract
    • Updated: 46 min ago
    • ID#: 21-685780
    8
    Beds
    0
    Baths
    0
    ½ Baths
    0.13
    Acres
    3,296
    SQFT
    $311
    $/SQFT
    1963
    Built
    Neighborhood:
    Mid Los Angeles
    County:
    Los Angeles
    Area:
    Mid Los Angeles
    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.
    Exterior Features

    Exterior Construction Hard Coat Lot Size Area 5770 Other Structures None Parking Garage Driveway Total Parking 8

    Interior Features

    Baths Total 4.00 Cooling Other Equipment WasherDryerRange/Oven Flooring HardwoodTileCarpet Foundation Details Slab Heating Other Laundry In Unit

    Property Features

    Assessed Total Value 628463 Gross Income 65568 Gross Operating Income 62290 Like Units1 1 Like Units2 3 Net Operating Income 38580.00 Number Of Buildings 1 Number Of Units 4 Sale Type Standard Source Living Area Owner Source Lot Size Area Vendor Enhanced Total Annual Expense 23710 Type Of Units Apartments Water Heaters YN Yes Year Built Source Owner Zoning Rd1.5-1

    Listing provided courtesy of Neema Ahadian DRE#01346750 of Marcus & Millichap.


    Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-04-12T10:42:42.117. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
     
    https://bt-photos.global.ssl.fastly.net/carets/orig_boomver_1_21-685780-2.jpg https://bt-photos.global.ssl.fastly.net/carets/orig_boomver_1_21-685780-2.jpg https://bt-photos.global.ssl.fastly.net/carets/orig_boomver_1_21-685780-2.jpg
    Logo
    The Payab Group/Berkshire Hathaway HomeServices California Properties
    16810 Ventura Blvd.
    Encino CA, 91436