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272 S Burlington Ave

Los Angeles, CA 90057
  • $1,595,000
  • STATUS: Active
  • ON SITE: 17 Days
  • MLS #: 21-107965
UPDATED: 20 min ago
$1,595,000
  • 6
    BEDS
  • 0.12
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 2,778
    SQFT
  • $574
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1923
County:

School Ratings & Info

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 the Combined LA/Westside Multiple Listing Service as of 2022-05-29T07:42:43.797. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
www.searchdesertrealestate.com/homes/128587999
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272 S Burlington Ave Los Angeles, CA 90057

  • Price: $1,595,000
  • Status: Active
  • On Site: 17 Days
  • Updated: 20 min ago
  • MLS #: 21-107965
6
Beds
0
Baths
0
½ Baths
0.12
Acres
2,778
SQFT
$574
$/SQFT
1923
Built
Neighborhood:
Silver Lake - Echo Park
County:
Los Angeles
Area:
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

Cross Streets 3RD ST. & BURLINGTON AVE. Direction Faces South Entry Location Ground Level W/Steps Lot Description Bluff FrontStreet PavedStreet LightingSidewalksFenced Lot Location CityCorner LotBluff Front Lot Size Area 5172 Other Structures Other Parking Garage Garage Patio Features Patio OpenPorch Style Bungalow Total Parking 3 View Description CityCity LightsPanoramicSkylineTree Top View YN Yes

Interior Features

Baths Total 5.00 Common Walls Detached/No Common Walls Cooling Wall/Window Den No Dining Room No Equipment Gas Dryer Hookup Family Room No Flooring Hardwood Foundation Details Raised Heating Floor FurnaceWall Interior Features OtherCommon Walls Laundry Laundry Area Rooms Art StudioStudy/OfficeLiving RoomOther Water Heater Features Gas

Property Features

Assessed Total Value 680393 Disability Access None Gross Income 90408 Gross Operating Income 90408 Land Lease Type Fee Like Units1 1 Like Units2 1 Like Units3 1 Like Units4 1 Like Units5 1 Net Operating Income 80640.00 Number Of Buildings 2 Number Of Units 5 Sale Type Standard Security Features Gated Sewer In Street Source Living Area Other Source Lot Size Area Assessor Total Annual Expense 34560 TVServices Cable Tv Type Of Units Bungalow Water Public Water Heaters YN Yes Year Built Source Assessor Zoning Lac2

Listing provided courtesy of Gary Bluman DRE#01192305 of Real Estate Resources Of Ca.


Based on information from the Combined LA/Westside Multiple Listing Service as of 2022-05-29T07:42:43.797. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
 
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