694 S Burlington Avenue, Los Angeles, CA 90057
List Price: $3.9M
Listing Status: Active
0Days on Market: 0
0 Bedrooms · 0 Bathrooms
Property Type: ResidentialIncome
Year Built: 1913
Lot Size: 22,530 sq ft
Garage Spaces: 3
Private Pool: Yes
MLS Number: SB26135648
About This Property
694 S Burlington Ave is a 32-unit mixed use building located in the Pico Union neighborhood. This massive 30,319 sqft building is offered at only $122k/unit and $129/sqft. The property is currently operating at a 7.72% CAP and 7.25 GRM. There is still over 56%+ upside available once the property is stabilized. The property is individually metered for gas and electric. The property is comprised of 26 apartment units and 6 commercial spaces, consisting of (13) 1Bed+1Bath units, (13) Studio+1Bath units, and multiple ground-floor retail/commercial tenants. Current scheduled income is approximately $533,762 annually, with market scheduled income projected at approximately $839,606 annually once stabilized. At market rents, the property projects to a 15.22% CAP and 4.65 GRM, offering an investor a clear path to substantial future income growth. 694 S Burlington Ave is individually metered for gas and electric, helping reduce utility exposure and improve operating efficiency. Currently, two studio units are being delivered vacant, allowing a buyer to immediately renovate, lease at market rents, and capture upside right away. The building also benefits from diversified income through both residential and retail tenancy, reducing reliance on one income source.
Listing provided by: Cameron Samimi DRE #02035763 310-425-9838 cameron@lyonstahl.com, Lyon Stahl Investment Real Estate, Inc.
Source: CRMLS, MLS #: SB26135648