Property listed by Marcus & Millichap, Sean Rosenzweig 310-909-5500
$2,850,000
We are pleased to offer for sale 4315 Burns Avenue, a 14-unit apartment community located in the Virgil Village neighborhood of Los Angeles, just west of Virgil Avenue.Built in 1964, the property comprises 9,450 square feet of improvements in a single two-story building on a 9,599-square-foot parcel, with parking and… Read More laundry on site. The unit mix consists of nine one-bedroom units, two two-bedroom units, two single units and one bachelor unit. The government-required seismic retrofit has been completed. The property delivers strong in-place yield at a 6.78% scheduled cap rate and a 9.67 gross rent multiplier, with approximately 12% rental upside remaining, capturable through ordinary turnover.With a Walk Score of 91, daily errands do not require a car. Courage Bagels and Sqirl sit within a quarter mile south on Virgil Avenue, and The Virgil, a live music and comedy venue, about a quarter mile north on Santa Monica Boulevard. Sunset Junction lies just over half a mile northeast, and Silver Lake, Los Feliz and East Hollywood all border the neighborhood. The Metro B Line's Vermont/Santa Monica station sits about a third of a mile northwest, and the 101 Freeway meets Vermont Avenue about half a mile northwest. The employment base is anchored by education and healthcare, with Los Angeles City College just over a quarter mile west, Children's Hospital Los Angeles about three-quarters of a mile northwest and Kaiser Permanente Los Angeles Medical Center less than a mile northwest.4315 Burns Avenue offers investors an opportunity to acquire a stabilized asset in Virgil Village, one of the most centrally positioned residential neighborhoods in the city and one that continues to gentrify.PLEASE DO NOT WALK THE PROPERTY OR DISRUPT TENANTS. CONTACT THE LISTING TEAM FOR DETAILS. Read Less
Listing Snapshot
Days Online
45
Last Updated
Beds
13
3/4 Baths
16
Square Ft.
9,450
Lot Size
0.22 Acres
Year Built
1964
MLS Number
26986233
Additional Details
Building
Built in 1964, Living area: 9450.0, 1 building, 2 stories, Levels: Two
Income
Gross Income: $294,682, Net Operating Income: $193,310
Lot
0.2204 acres, Dimensions: 60x155
Parking
12 total parking spaces, Covered, Uncovered
Taxes
Parcel Number: 5539008020, Zoning: RD1.5-1XL
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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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