234 N Burlington St is a rare 2023 construction fourplex walking distance to the Echo Park Lake! This fully stabilized fourplex attracted A+ tenants quickly thanks to its ultra trendy location near Echo Park & Silver Lake and highly rentable floorplans. Moments on foot to Bloom & Plume Coffee, Tribal Cafe, Target on Temple, and so much more! With SB-8 in effect, new construction property inventory is at an all-time low- making it more important than ever to tie up these valuable properties as early as possible! 234 N Burlington is made up of two 4-bedroom, 3.5- bathroom units & two 3-bedroom, 3.5-bathroom units, all with incredibly spacious, open floorplans. The property boasts 8 parking spots (4 garage spaces & 4 exterior spaces) all accessed from a convenient back alley! This incredible project has an excellent stabilized cap rate of 5.54%! In addition to the high return, buyers will enjoy other notable perks including: a 1-year builder's warranty, brand new EVERYTHING, little to no maintenance, separate meters for gas, water & electric, and extreme desirability amongst renters. The units feature: washer and dryer in each unit, extremely spacious, open floor plans, and high quality finishes.
Details
Type:
Multi-Family/Income Sale
Subdivision: C21 - Silver Lake - Echo Park
County: Los Angeles
Tax ID: 5159009005
Cap Rate: 5.54%
Gross Rent Multiplier: 13.75
Days on Market: 78
Access Features: None
AltCal ID: CRBB24115420
Amenities: Balcony/Patio
Kitchen: Dishwasher, Microwave, Oven Range - Gas, Refrigerator, Oven - Electric
234 North. Burlington Ave., Los Angeles, CA 90026
Directions to here from: 155 mi
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Listed by Elizabeth Maddox with Myunits.com Inc.
Based on information from the MLSListings MLS) as of 9/13/2024. 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.
