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14 Renovated Units - 6% Cap near DTLA & HiFi 161 S Burlington Ave 14 Unit Apartment Building $6,602,187 CAD ($471,585 CAD/Unit) 6.06% Cap Rate Los Angeles, CA 90057
INVESTMENT HIGHLIGHTS
- Fully renovated 14-unit apartment building with immediate 6%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 8.2% after construction (~$775k).
- Located on a large 8,283 SF R4-1 lot in trendy Filipino Town, near Echo Park, Silverlake, DTLA.
EXECUTIVE SUMMARY
Once in a lifetime 100% Fully Renovated 14-unit apartment building cash flowing at an amazing 6% Cap Rate from day 1! Plans to add 8 detached ADUs to achieve a remarkable 8.2% 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 | $6,602,187 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $471,585 CAD | Building Class | B |
| Sale Type | Investment | Lot Size | 0.19 AC |
| Cap Rate | 6.06% | Building Size | 6,874 SF |
| Gross Rent Multiplier | 11.99 | 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 | ||
| Price | $6,602,187 CAD |
| Price Per Unit | $471,585 CAD |
| Sale Type | Investment |
| Cap Rate | 6.06% |
| Gross Rent Multiplier | 11.99 |
| 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 |
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
Walk Score®
Walker's Paradise (90)
Transit Score®
Excellent Transit (72)
PROPERTY TAXES
| Parcel Number | 5154-001-012 | Improvements Assessment | $1,332,550 CAD |
| Land Assessment | $1,505,709 CAD | Total Assessment | $2,838,258 CAD |
PROPERTY TAXES
Parcel Number
5154-001-012
Land Assessment
$1,505,709 CAD
Improvements Assessment
$1,332,550 CAD
Total Assessment
$2,838,258 CAD
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14 Renovated Units - 6% Cap near DTLA & HiFi | 161 S Burlington Ave
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