$189,900 Cost Per Unit 
$341 Cost Per Foot
11.14 GRM* / 8.44 GRM(M)*
6.04% CAP* / 8.64% CAP (M)*

​

​

PROPERTY OVERVIEW

Jared Levine of JML Real Estate Group / KW Commercial, the exclusive listing agent, is pleased to present the opportunity to acquire The Burlington in the submarket of Westlake North (LA Market) and in close proximity to Echo Park, Hollywood, Koreatown, and DTLA. This offering includes a 5-unit charming bungalow multifamily building built in 1923 with a footprint of approximately 2,778 SF, sitting on an elevated corner lot with a detached owner-user unit and city views.

​

THE OPPORTUNITY

The Burlington offers an investor a significant value-add opportunity with approximately 35% (+/-) of potential upside in rents spread across a desirable unit mix. The property has seen upgrades to the electrical, roofing, and plumbing under the current ownership. Delivered 40% vacant (2 of 5 units), the property provides the possibility of leveraging the high demand for both market-rate and Section 8 tenants. This well-located multifamily property offers a rare opportunity to secure a unique corner lot property for both investors and owner-users in a high-demand rental pocket surrounded by new development and continued gentrification.

THE LOCATION

The Burlington is situated in Westlake North, a diverse and vibrant neighborhood. The property is located close to Echo Park, Hollywood, Koreatown, and Downtown Los Angeles, providing easy access to cultural and commercial hotspots. Westlake North offers a mix of history and growth, making it a highly attractive area for tenants. Additionally, the property is near Echo Park Lake, numerous cafes, restaurants, and other amenities, offering a rich living experience. This neighborhood continues to experience growth due to its centrality and ongoing gentrification.

​

HIGHLIGHTS

*Ideal Owner User Property

*Delivered 40% Vacant (2 of 5 Units)
*Vacant Detached Owner User Unit

*Upgrades to Electrical, Roofing, and Plumbing - Buyer to Verify
*Charming Bungalow Style with Free Standing Owners Unit
*Within Close Proximity to Echo Park, Hollywood, Koreatown, and DTLA
*Benefits From Raised Elevation with Amazing City Views
*Surrounded by New Development and Continued Gentrification
*High Demand Rental Pocket for both Market Rate and Section 8

*Corner Lot, Secured Access, and Ideal Frontage
*3 Garages and Clear Channel Billboard (lease)

*Amazing Value Add / Reposition Opportunity​​