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14 Renovated Units 6.25% Cap w upside 8.5% 161 S Burlington Ave 14 Unit Apartment Building $6,410,976 CAD ($457,927 CAD/Unit) 6.25% Cap Rate Los Angeles, CA 90057
Investment Highlights
- Fully renovated 14-unit apartment building with immediate 6.25%cap rate income.
- All units renovated with high-end finishes, modern appliances, and updated major systems; 8 one-bed and 4 two-bed units.
- Prime neighborhood with development potential and access to popular local amenities, restaurants, and shops.
- Plans to add 8 detached ADUs, increasing projected cap rate to 8.5% after construction (~$775k).
- Located on a large 8,283 SF R4-1 lot in trendy Filipino Town, near Echo Park, Silverlake, DTLA.
Executive Summary
Price Reduction! Once in a lifetime 100% Fully Renovated 14-unit apartment building cash flowing at an amazing 6.25% Cap Rate from day 1! Plans to add 8 detached ADUs to achieve a remarkable 8.5% Cap Rate after taking into account all construction costs (~775k assuming $300/SF). All 14 units have been completely vacated and remodeled, boasting a high-end aesthetic with new modern cabinets, flooring, lighting, new bathrooms, HVAC systems as well as major exterior capital improvements. Diverse unit mix of 8 (1bed/1bath) units, and 4 (2bed/1bath) units. Additionally, the major systems have been updated, including electrical, plumbing, windows, etc. Individually Metered for Gas & Electricity. Large 8,283 SF R4-1 Lot TOC Tier 2 with future development potential. This property is located in the trendy & historic Filipino Town just minutes away from Echo Park, Silverlake, DTLA as well as many hip neighborhood attractions, restaurants, bars, and shops such as Brooklyn Bagel Bakery, Boba Guys - Rideback Ranch, HiFi Kitchen, and Laveta Coffee, popping up all around the area.
Property Facts
| Price | $6,410,976 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $457,927 CAD | Building Class | B |
| Sale Type | Investment | Lot Size | 0.19 AC |
| Cap Rate | 6.25% | Building Size | 6,874 SF |
| Gross Rent Multiplier | 11.6 | Average Occupancy | 97% |
| No. Units | 14 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1950/2023 |
| Property Subtype | Apartment | Parking Ratio | 0.29/1,000 SF |
| Zoning | R4, Los Angeles - restricted Density Multiple Dwelling | ||
| Price | $6,410,976 CAD |
| Price Per Unit | $457,927 CAD |
| Sale Type | Investment |
| Cap Rate | 6.25% |
| Gross Rent Multiplier | 11.6 |
| No. Units | 14 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.19 AC |
| Building Size | 6,874 SF |
| Average Occupancy | 97% |
| No. Stories | 2 |
| Year Built/Renovated | 1950/2023 |
| Parking Ratio | 0.29/1,000 SF |
| Zoning | R4, Los Angeles - restricted Density Multiple Dwelling |
Amenities
Unit Amenities
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
Site Amenities
- 24 Hour Access
- Fenced Lot
- Gated
- Walk-Up
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 4 | - | - |
| 1+1 | 10 | - | - |
1 1
Very walkable
80/100
Moderately drivable
70/100
Exceptional public transit
90/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 5154-001-012 | Improvements Assessment | $1,325,087 CAD |
| Land Assessment | $1,497,277 CAD | Total Assessment | $2,822,364 CAD |
Property Taxes
Parcel Number
5154-001-012
Land Assessment
$1,497,277 CAD
Improvements Assessment
$1,325,087 CAD
Total Assessment
$2,822,364 CAD
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14 Renovated Units 6.25% Cap w upside 8.5% | 161 S Burlington Ave
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