Thank you
Sean Rosenzweig
Marcus & Millichap
310-909-5500
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.
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Total Bedrooms : 2
Total Baths: 10
Full Baths: 0
Half Baths: 0
Year Built: 1925
Building Area Total: 3,976
Lot Dimensions Source: Vendor Enhanced
Lot Size Acres: 0.1239
Lot Size Source: Assessor
Lot Size Square Feet: 5397
Original List Price: 1,300,000
Listing Contract Date: 2024-04-01
Listing Agreement: Exclusive Right To Sell
Parcel Number: 5154022012
Garage Description: None
Lease Term: Negotiable
Source Listing Status: Active
Source Neighborhood: C42 - Downtown L.A.
Postal Code Plus 4: 3023
Directions: South of 3rd Street and West of Union Avenue.
Zoning: LAC2
Source Property Type: Residential Income
Area: C42 - Downtown L.A.
Property Age: 99
Year Built Source: Assessor
Total Square Feet Living: 3976
Levels or Stories: Two
Building Total Stories: 2
Address | Estimate | Bed | Bath | Sq. Ft | Lot Size |
---|---|---|---|---|---|
2311 W 2nd Street, Los Angeles, CA,90057 | $900,000 | -- | -- | -- | 6467 Sqft |
247 S Carondelet Street, Los Angeles, CA,90057 | $1,790,000 | 2 | 2 | 1,424 | 7589 Sqft |
435 S La Fayette Park P.., Los Angeles, CA,90057 | $3,150 | 2 | 2 | 1,355 | 46949 Sqft |
2305 W 2nd Street, Los Angeles, CA,90057 | $979,999 | 2 | 1 | 2 | 6466 Sqft |
284 S Coronado Street, Los Angeles, CA,90057 | $1,099,000 | 5 | 2 | 2,636 | 5593 Sqft |
1913 W 3rd St., Los Angeles, CA,90057 | $6,300,000 | -- | -- | 21,692 | 20283 Sqft |
226 S Rampart Boulevard, Los Angeles, CA,90057 | $1,380,000 | 4 | 2 | 3,058 | 7001 Sqft |
2021 Miramar Street, Los Angeles, CA,90057 | $2,400,000 | 6 | 3 | 2,466 | 4942 Sqft |
435 S La Fayette Park P.., Los Angeles, CA,90057 | $680,000 | 2 | 2 | 1,433 | 46963 Sqft |
2330 W 3rd Street #PH, Los Angeles, CA,90057 | $2,990,000 | -- | -- | 8,262 | 11725 Sqft |
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ByOwner last updated this listing 05/19/2024 @ 04:48
MLS: 24374935
LISTED BY: Sean Rosenzweig, Marcus & Millichap
SOURCE: CRMLS
Buyer Agency Compensation: 2%
Buyer Agency Description: The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed and if applicable, to participants of reciprocating MLS's as set forth in Association/MLS reciprocal agreements.