7
See all 7 photos
$2,850,000
Est. payment /mo
13 Beds
16 Baths
9,450 SqFt
New
4315 Burns AVE Los Angeles, CA 90029
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Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 9,450 sqft
Price per Sqft $301
MLS Listing ID 26986233
Bedrooms 13
HOA Y/N No
Year Built 1964
Lot Size 9,600 Sqft
Property Description
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 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.
Location
State CA
County Los Angeles
Area C21 - Silver Lake - Echo Park
Zoning RD1.5-1XL
Interior
Fireplace No
Exterior
Parking Features Covered, Uncovered
Total Parking Spaces 12
Building
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 5539008020
Special Listing Condition Standard
Listed by Sean Rosenzweig Marcus & Millichap #01406343
NEARBY SCHOOL & BUSINESS
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