2305 South Burnside Avenue

Los Angeles, CA 90016

$1,138,500
Price
7
Beds
3
Baths
1,973 Sq. Ft.
$577 / Sq. Ft.
1,973
Sq. Ft.
$577
per Sq. Ft.

Description

Three-unit Property with Future Development Potential with RD.1 Zoning. Located in the desirable neighborhood of Mid-Wilshire near Culver City, Beverly Hills, and Downtown Los Angeles, this property boasts a great mix of units, including two-bedroom and three-bedroom layouts. Each is occupied by stable tenants, ensuring consistent rental income for the new owner. The property is designed for easy management, making it an ideal investment for those seeking a hassle-free income stream with low operating...Three-unit Property with Future Development Potential with RD.1 Zoning. Located in the desirable neighborhood of Mid-Wilshire near Culver City, Beverly Hills, and Downtown Los Angeles, this property boasts a great mix of units, including two-bedroom and three-bedroom layouts. Each is occupied by stable tenants, ensuring consistent rental income for the new owner. The property is designed for easy management, making it an ideal investment for those seeking a hassle-free income stream with low operating expenses. With a solid 6.1% CAP rate and 12.2 GRM, this property promises a strong return on investment. Tech companies are moving to this area, which is evidence of the long-term investment strategy and investor confidence in the growth of this part of Los Angeles.
  1. Listed by Behrouz Lavi • DRE #01482721 • Brokerage DRE #01428774 • Keller Williams Realty-Studio City • 818-235-7290

Property Details for 2305 South Burnside Avenue

Parking Spaces Total
4
Private Pool
No
Total Units
3.0
Building Type
Attached
Lot Size Source
Assessor
Living Area
1973
Assessor Parcel Number
5063-019-036
Property Attached YN
true
LISTING UPDATED: 09/04/2024 05:38 AM

Property Details for 2305 South Burnside Avenue

StatusActive
MLS #SR24117674
Days on Market165
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1924
Lot Size0.13 AC / 5,791 SF
CountyLos Angeles County

Building Information for 2305 South Burnside Avenue

Stories1Residences-Year Built1924Building Size-Lot Size0.13 AC / 5,791 SF

Property Information for 2305 South Burnside Avenue

Income / Expense / Tax Details
Income Details
  • Gross Income: $93,288
  • Gross Scheduled Income: $93,588
  • Net Operating Income: $69,800
  • Gross Multiplier: 12.2
  • Cap Rate: 6.1
Expense Details
  • Operating Expense: $23,488
  • New Taxes Expense: $12,500
  • Gardener Expense: $588
  • Pest Control Expense: $500
  • Electric Expense: $0
  • Insurance Expense: $4,500
  • Maintenance Expense: $2,400
  • Trash Expense: $0
  • Water Sewer Expense: $3,000
  • Total Expenses: $23,488
Tax / Assessment Info
  • Tax Tract Number: 5356
  • Tax Census Tract: 2184.00
  • CFD/Mello-Roos Fee: $400
  • Tax Lot: 37
Community / Development
Community / Development
  • Community Features: Urban
Property / Structure Info
Interior Features
  • Laundry: No
  • Laundry Features: None
Exterior Features
  • Entry Location: 1
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
Land/Lot Info
  • Lot Features: 2-5 Units/Acre
  • Number Of Units: 3
  • Land Lease: No
  • Land Lease Type: Fee
  • Water: Public
  • Sewer: Public Sewer
  • Water Source: Public
Parking Info
  • Garage Spaces: 4
  • Parking Garage Spaces: 4
  • Carport Spaces: 0
Unit Information
Unit 1
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 2
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $2,374
  • Unit Type Total Rent: $2,375
  • Unit Type Pro Forma: 2600
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 3
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 2
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $2,800
  • Unit Type Total Rent: $2,800
  • Unit Type Pro Forma: 3500
  • Unit Type Type: 2
Unit 3
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Actual Rent: $0
  • Unit Type Total Rent: $0
  • Unit Type Pro Forma: 2600
  • Unit Type Type: 3
Unit Information
  • Rent Controlled: Yes
  • Number Of Buildings: 2
  • Number Of Separate Electric Meters: 3
  • Number Of Separate Gas Meters: 3
  • Number Of Separate Water Meters: 1

Property History for 2305 South Burnside Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 2305 South Burnside Avenue

Taxable ValueLand$638,846Additions$274,191Total$913,037
Tax Record2024$11,350 ($946 / month)
Home Facts
Total Finished SqFt1,937 SqFtAbove Grade Finished SqFt1,937 SqFtLot Size5,821 SqFtStyleTriplexYear Built1924ZoningLARD1.5CountyLOS ANGELESAPN5063-019-036

Schools near 2305 South Burnside Avenue

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Charter - 6 to 8
Rating
School
Distance
Marvin Elementary School
PublicK to 5

Daniel Webster Middle School
Public6 to 8

Susan Miller Dorsey Senior High School
Public9 to 12

New Los Angeles Charter School
Charter6 to 8

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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2305 South Burnside Avenue is a multi-family home for sale in Los Angeles, CA 90016. This property was listed for sale on June 10, 2024 by Keller Williams Realty-Studio City, it's currently listed at $1,138,500. It has been on the market for a total of 165 days and was last sold on September 28, 2020. This listing's school district is Los Angeles Unified School District. Nearby schools include Marvin Elementary School, Daniel Webster Middle School and Susan Miller Dorsey Senior High School. 2305 South Burnside Avenue is a 7-bed, 3-bath, 1,973 sqft multi-family home built in 1924.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Keller Williams Realty-Studio City, Behrouz Lavi, DRE #01482721

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.