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272 S Burlington Avenue

Los Angeles (City), CA 90057
  • $1,595,000
  • STATUS: Active
  • ON SITE: 14 Days
  • ID#: 21107965
UPDATED: 33 min ago
$1,595,000
  • 0
    BEDS
  • 0.12
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Type:
Multi-Family
Built:
1923
County:

School Ratings & Info

Listing Agent(s): Gary Bluman of Real Estate Resources Of Ca (800-471-2001)


Description

Perched high above the street, this gated, corner, detached bungalow 5-unit property, with sweeping views of Downtown, consists of: a VACANT DETACHED, 2 BEDROOM, 1 BATH BUNGALOW that feels like an SFR, a VACANT, 1 BEDROOM, 1 BATH SFR-FEELING END BUNGALOW, plus, 3 additional, occupied 1 BEDROOM, 1 BATH BUNGALOWS. An ideal property, for anyone looking for a unique Owner-User, or a unique cluster acquisition of Income Properties, on one above-street corner lot, with rental income to off-set a mortgage payment! This property, captures its unique setting, high above the street, making it perfect for residential living and creative studio work space, with great off-street and 3-car garage parking. Additionally, the COMMERCIAL ZONING, within a Transit Zone, allows for mixed-use, live/work space, and the development of approximately 20 units for future development (buyer to verify exact allowable units and mix). With the vacant units rented, at current market rents, the property can generate approximately $7,500 per month, NOW, and even more, as the 3 occupied units, vacate. For buyers looking to Owner-Occupy, combining the property's 2 VACANT UNITS, will create a SPECIAL, OASIS in the middle of the City. This property offers MASSIVE UPSIDE POTENTIAL, WITH COMMERCIAL ZONING, AND BILLBOARD LEASE, A-L-L IN AN EXCELLENT LOCATION, situated, close to Downtown, Silver Lake, and every lifestyle convenience. This is an opportunity, not to be missed!!

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Based on information from California Regional Multiple Listing Service, Inc. as of 2022-05-26T19:33:55.463. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or The Houston Team | Compass CA DRE#01991628. Licensed in the State of California, USA.
www.northsdrealty.com/homes/128590598
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272 S Burlington Avenue Los Angeles (City), CA 90057

  • Price: $1,595,000
  • Status: Active
  • On Site: 14 Days
  • Updated: 33 min ago
  • ID#: 21107965
0
Beds
0
Baths
0
½ Baths
0.12
Acres
1923
Built
Neighborhood:
C21 - Silver Lake - Echo Park
County:
Los Angeles
Area:
C21 - Silver Lake - Echo Park
Property Description
Perched high above the street, this gated, corner, detached bungalow 5-unit property, with sweeping views of Downtown, consists of: a VACANT DETACHED, 2 BEDROOM, 1 BATH BUNGALOW that feels like an SFR, a VACANT, 1 BEDROOM, 1 BATH SFR-FEELING END BUNGALOW, plus, 3 additional, occupied 1 BEDROOM, 1 BATH BUNGALOWS. An ideal property, for anyone looking for a unique Owner-User, or a unique cluster acquisition of Income Properties, on one above-street corner lot, with rental income to off-set a mortgage payment! This property, captures its unique setting, high above the street, making it perfect for residential living and creative studio work space, with great off-street and 3-car garage parking. Additionally, the COMMERCIAL ZONING, within a Transit Zone, allows for mixed-use, live/work space, and the development of approximately 20 units for future development (buyer to verify exact allowable units and mix). With the vacant units rented, at current market rents, the property can generate approximately $7,500 per month, NOW, and even more, as the 3 occupied units, vacate. For buyers looking to Owner-Occupy, combining the property's 2 VACANT UNITS, will create a SPECIAL, OASIS in the middle of the City. This property offers MASSIVE UPSIDE POTENTIAL, WITH COMMERCIAL ZONING, AND BILLBOARD LEASE, A-L-L IN AN EXCELLENT LOCATION, situated, close to Downtown, Silver Lake, and every lifestyle convenience. This is an opportunity, not to be missed!!
Exterior Features

Architectural Style Bungalow Direction Faces South Entry Location Ground Level W/Steps Foundation Details Raised Lot Features Bluff Parking Features Garage Parking Total 3 View City LightsPanoramic View YN Yes

Interior Features

Accessibility Features None Cooling Wall/Window Unit(S) Cooling YN Yes Flooring Wood Heating Floor FurnaceWall Furnace Heating YN Yes

Property Features

Additional Parcels YN No Association Fee 0 Community Features Gated Garage YN Yes Gross Income 90408 Land Lease YN No Listing Agreement Exclusive Right To Sell Listing Service Full Service Net Operating Income 80640 New Construction YN No Number Of Units Leased 3 Security Features Gated Community Senior Community YN No Sewer Other Special Listing Conditions Standard Vacancy Allowance Rate 2 Zoning Lac2



Based on information from California Regional Multiple Listing Service, Inc. as of 2022-05-26T19:33:55.463. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or The Houston Team | Compass CA DRE#01991628. Licensed in the State of California, USA.
 
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The Houston Team | Compass CA DRE#01991628
2100 Costa Del Mar
Carlsbad CA, 92009
Listing Agent(s): Gary Bluman of Real Estate Resources Of Ca (800-471-2001)