Property listed by Marcus & Millichap, Jason Tuvia 818-212-2700
$1,050,000
We are pleased to present a five (5) unit apartment building located at 251 N Burlington Avenue in Los Angeles, California. The subject property is located in a solid Echo Park location, north of Beverly Boulevard and east of Alvarado Street. This well-located Echo Park multifamily property offers a rare… Read More investment opportunity with substantial upside. The property is hitting the market for the first time in over 30 years. The building features a streamlined unit mix of all two-bedroom units. Gated and secure with full on-site parking in the rear, the lot also boasts lush front yard landscaping and strong curb appeal. The rear parking area presents excellent potential for ADU development under SB1211, supported by convenient alley access. Surrounded by ongoing and completed developments, the property is also just steps from major commercial corridors like Beverly Blvd, Temple St, and Alvarado St, placing it in a high-demand, rapidly evolving neighborhood. With its solid location, over 70% rental upside, and strong potential for added value through ADU development, this property offers a rare opportunity for investors to capitalize on one of LA's most dynamic and fast-growing rental markets. Read Less
Listing Snapshot
Days Online
2
Last Updated
Property Type
Other
Beds
10
Square Ft.
4,474
Lot Size
0.14 Acres
Year Built
1903
MLS Number
25602319
30 Days Snapshot Of 90026
$1.80M
+18%
(avg) sold price
10
-28%
homes sold
74
+25%
(avg) days on market
Snapshot
Area Map
Additional Details
Building
Built in 1903, Building area total: 4,474, Levels: Two, Living area: 4474, 2 stories, 2 buildings
Income
Gross income: $89,088, Net operating income: $51,650
Lot
0.1378 acres, 6,001 square feet, Size: 6,001
Parking
Uncovered
Property
Zoning: LARD1.5
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Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. 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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