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259 N Burlington Ave Los Angeles, CA, 90026
$2,199,000 Commercial for sale Other
62% Vacant! 5.71% CAP Rate - 5 out of 8 units are vacant and fully upgraded. 259 N Burlington Ave, an 8-unit Semi-Value-Add & High Vacancy (±62% vacant) Opportunity in the Heart of the Historic Filipino Town. The property is three blocks from Echo Park Lake and centrally located near East Hollywood, Koreatown, Silverlake, Chinatown, and Downtown Los Angeles. This submarket has been on the uptick for years as more and more luxury apartment & retail units pour into the area, pushing the rental market over the last decade. Priced to sell at a strong CAP Rate of ±5.70% and a proforma CAP Rate of ±8.40%, this investment offers a very attractive rental upside of ±33%. Built-in 1960, 259 N Burlington Ave consists of 8 exceptional units totaling ±5,041 SF of building area on a sizeable ±6,000 SF lot. The property is an easily maintained two-story building with a strong unit mix of (2) Two bedrooms + One Bathroom and (6) One Bedroom + One Bathroom Units. (1) Two-bedroom unit is a recently built ADU (Non-rent-control, buyer to verify), which was finished at the beginning of 2024. Deliverable with 5 Rent Ready Vacancies to provide robust CAP Rate of ±5.70%, low GRM ±12.40, and this investment offers a significant rental upside of ±33%. The ownership has recently completed many sign
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Property details
5,041 sqft interior area
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None
Land area
6,000 sqft (0.14 acres)
Days on Verhouse
33
Address
259 N Burlington Ave, Los Angeles, CA, 90026
City of California
Los Angeles
County
Los Angeles
Year Built
1960
District
Listing
Nearby major retailers
Costco
T-Mobile
Albertsons
Trader Joe's
Toyota
Whole Foods Market
Wholesale: 1
Mobile phone: 6
Supermarket: 6
Car: 2
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Interior Features
Vinyl floors
Floor Covering
Vinyl
Amenities
Other
Appliances
Dryer
Listed by
Han Chen, Growth Investment Group Pasade
Name
Han Chen
License number
01749321
Brokerage company
Growth Investment Group Pasade
MLS #
CRAR24061926
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Mortgage
$6,752
Taxes
$0
HOA dues
$0
Mortgage
$439,800 / 20%
2.28%
30 years
Your amount
$6,752 / month
Lot details
TMK #5159006028
Lot Description
Level, Other
Parcel nr.
5159006028
90026 info
Essentials nearby
Neighborhood stats
Walkability
Coffee shops
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no data
Bus stop
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no data
Supermarket
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no data
Costco
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no data
Hospital
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no data
Park
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no data
Beach
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no data
Elementary school
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no data
Middle school
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no data
High school
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no data
Local airport
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no data
People living in 90026
39%
Families with children
National average: 39%
53%
Non family households
814,963
Population
$68,274
Average Income
Age & gender
Median age 35 years
More info
Commute types
62% commute by car
More info
Education level
26% have not graduated education
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Number of employees
1% work in management
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Vehicles available
47% have 1 vehicle
More info
Vehicles by gender
47% have 1 vehicle
More info
Housing market insights for
$1.18m
Neighborhood average
sales price*
sales price*
$950k
Neighborhood median
sales price*
sales price*
547
Number
of sales*
of sales*
Housing type
44% are apartments
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Rooms
37% of the houses have 2 or 3 rooms
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Bedrooms
37% have 2 or 3 bedrooms
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Owners vs Renters
84% are renters
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14.17 / 20
Above Average
►
15-20
Most Walkable
10-15
Above Average
5-10
Below Average
1-5
Least Walkable
Walkability according to the National Walkability Index
Price history
New Listing Mar 28, 2024
| Date | Event | Price | $/sqft | Source |
|---|---|---|---|---|
| Mar 28, 2024 | New Listing | $2,199,000 | 0 | MLS #CRAR24061926 |
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Frequently Asked Questions about 259 N Burlington Ave
What is 259 N Burlington Ave?
259 N Burlington Ave is a Commercial/Industrial propertywith 5,041 sqft interior space.
What is the rental income?
-
What is the full address of this Commercial?
259 N Burlington Ave, Los Angeles, CA, 90026.
What comparable properties are nearby?
Comparable nearby commercial properties include 151 S Mountainview St, 229 S Westlake Ave, 160 Union Pl, 307 S Burlington Ave, 300 S Alvarado St, 316 N Coronado St.
Based on information from the bridgeMLS as of 04-29-2024. 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.
Listing last updated on: Mar 29, 2024
Verhouse Last checked less than a minute ago
The closest grocery stores are Smart & Final, 0.73 miles away and Food 4 Less, 0.78 miles away.
The 90026 zip area has a population of 814,963, and 39% of the families have children. The median age is 35.46 years and 62% commute by car. The most popular housing type is "apartment" and 84% is renter.
