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$4,125,000
Est. payment /mo
0.52 Acres Lot
UPDATED:
Key Details
Property Type Commercial
Sub Type Retail
Listing Status Active
Purchase Type For Sale
MLS Listing ID SB25223796
HOA Y/N No
Year Built 1913
Lot Size 0.517 Acres
Property Sub-Type Retail
Property Description
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 $128k/unit and $136/sqft. The property is currently operating at a 7.01% CAP and 7.96 GRM. There is still over 51% upside available once the property is stabilized. The property is individually metered for gas and electric.
The building is comprised of (26) apartment units and (6) Retail Spaces - consistent of (13) 1-Bed+1-Bath, (13) Studio+1Bath. Currently (2) studio/1-bath units are being delivered vacant, offering immediate upside in rental income.
694 S Burlington Ave is conveniently located just minutes from Downtown Los Angeles, with easy access to the 10 and 110 freeways. There are many shops, restaurants and amenities nearby, making this an ideal location for renters.
The building is comprised of (26) apartment units and (6) Retail Spaces - consistent of (13) 1-Bed+1-Bath, (13) Studio+1Bath. Currently (2) studio/1-bath units are being delivered vacant, offering immediate upside in rental income.
694 S Burlington Ave is conveniently located just minutes from Downtown Los Angeles, with easy access to the 10 and 110 freeways. There are many shops, restaurants and amenities nearby, making this an ideal location for renters.
Location
State CA
County Los Angeles
Area C42 - Downtown L.A.
Interior
Fireplace No
Laundry See Remarks
Building
Lot Description 0-1 Unit/Acre
Story 3
Water Public
Others
Tax ID 5142011013
Acceptable Financing Cash, Cash to New Loan, Conventional, 1031 Exchange
Listing Terms Cash, Cash to New Loan, Conventional, 1031 Exchange
Special Listing Condition Standard
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Listed by Cameron Samimi Lyon Stahl Investment Real Estate, Inc.
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Rich King
Broker Associate | License ID: 01520399
Broker Associate License ID: 01520399