SoldApr 7, 2021

Listed and Bought with Neema Ahadian from Marcus & Millichap

Source: Combined LA Westside Multiple Listing Service, Inc #21685780

2037 South Burnside Avenue, Los Angeles, CA, 90016

$1,200,000

8
4
8
3296 sq. ft.
5770 sq. ft.

Other

•

30+ days on the market

Sold: Apr 7, 2021

What's around 2037 South Burnside Avenue

About this property

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.

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