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2037 S Burnside Ave

$1,025,000

Property Details

Year Built: 1963

Units: 4

Price / Unit: $256,250

Price / SqFt: $311

CAP: 3.76%

GRM: 15.63

Executive Summary

INVESTMENT HIGHLIGHTS

2037 S Burnside Avenue is a fourplex totaling 3,296 SF and is located in Mid- City, just south of Washington Blvd.
Built in 1963, this property features a unit mix consisting of one one-bedroom and three two-bedroom apartment units with laundry in each unit.
Low price per square foot of $311 with a pro forma CAP rate of 7.29% when market rents are achieved and 61% rental upside.
Ease of management as electric and gas are separately metered.
The property includes 8 parking spaces, four in the front and four in the back of the building.
Walking distance to dining attractions, the Western Ave Metro Expo Line, and provides direct access to the Santa Monica Freeway allowing for a quick commute to Downtown or West LA.
The Mid-City neighborhood continues to develop at a rapid pace, including growing educational opportunities, as well as retail, public transportation, and city-shaping development projects.–

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