234 North Burlington Avenue

Los Angeles, CA 90026

$2,795,000
Price
14
Beds
14
Baths
4,798 Sq. Ft.
$583 / Sq. Ft.
4,798
Sq. Ft.
$583
per Sq. Ft.

Description

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...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.
  1. Listed by Elizabeth Maddox • DRE #01921425 • Brokerage DRE #02230850 • Myunits.com Inc. • 818-850-8485
  2. Listed by Isaac Davidi • DRE #01819489 • Brokerage DRE #01819489 • On Track Property

Property Details for 234 North Burlington Avenue

View
City Lights
Parking Spaces Total
8
Private Pool
No
Cooling Type
Central Forced Air
Total Units
4.0
Building Type
Detached
Lot Size Source
Assessor
Living Area
4798
LISTING UPDATED: 09/11/2024 05:04 AM

Property Details for 234 North Burlington Avenue

StatusActive
MLS #BB24115420
Days on Market94
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built2023
Lot Size0.14 AC / 6,000 SF
CountyLos Angeles County

Building Information for 234 North Burlington Avenue

Stories2Residences-Year Built2023Building Size-Lot Size0.14 AC / 6,000 SF

Property Information for 234 North Burlington Avenue

Rental Info
Rental Info
  • Tenant Pays: All Utilities
Income / Expense / Tax Details
Income Details
  • Gross Income: $203,760
  • Gross Scheduled Income: $203,760
  • Vacancy Allowance: 8129
  • Vacancy Allowance Rate: 4
  • Gross Operating Income: $195,091
  • Net Operating Income: $154,889
  • Gross Multiplier: 13.75
  • Cap Rate: 5.54
Expense Details
  • Operating Expense: $40,202
  • New Taxes Expense: $33,523
  • Gardener Expense: $1,200
  • Cable TV Expense: $0
  • Fuel Expense: $0
  • Furniture Replacement Expense: $0
  • Electric Expense: $0
  • Insurance Expense: $2,879
  • Maintenance Expense: $1,600
  • Trash Expense: $0
  • Water Sewer Expense: $1,000
  • Total Expenses: $40,202
Tax / Assessment Info
  • Tax Area: 67
  • Tax Annual Amount: $34,723
  • Tax Block: 1
  • Tax Tract Number: 208...
  • Tax Census Tract: 2084.02
  • CFD/Mello-Roos Fee: $417
  • Tax Lot: 15
Community / Development
Community / Development
  • Accessibility Features: None
  • Disability Access: None
  • Community Features: Sidewalks
Property / Structure Info
Interior Features
  • Appliances: Dishwasher, Electric Oven, Gas Range, Microwave, Refrigerator
  • Equipment: Dishwasher, Dryer, Dryer Included, Electric Dryer Hookup, Hookup - Electric, Inside, Microwave, Refrigerator, Washer, Washer Hookup, Washer Included
  • Interior Features: Balcony
  • Room Type: Kitchen, Living Room
  • Laundry: Yes
  • Laundry Features: Dryer Included, Electric Dryer Hookup, Inside, Washer Hookup, Washer Included
  • Fireplace Features: None
  • Fireplace Rooms: None
  • Cooling: Central Air
  • Heating Type: Central
  • Heating: Central
  • Flooring: Vinyl
Exterior Features
  • Entry Location: 1
  • Property Condition: Turnkey
  • View Description: City Lights
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
  • Spa Features: None
Land/Lot Info
  • Lot Features: Landscaped
  • Number Of Units: 4
  • Land Lease: No
  • Land Lease Type: Fee
  • Road Surface Type: Paved
  • Road Frontage Type: City Street
  • Levels: Two
  • Water: Public
  • Sewer: Public Sewer
  • Electric: Standard
  • Water Source: Public
Parking Info
  • Garage Spaces: 4
  • Parking: Yes
  • Parking Garage: Assigned
  • Uncovered Spaces: 4
  • Open Other Spaces Total: 4
  • Parking Garage Spaces: 4
  • Carport Spaces: 0
  • Parking Features: Assigned, Garage Faces Rear
Unit Information
Unit 1
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 4
  • Unit Type Baths Total: 4
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $0
  • Unit Type Total Rent: $0
  • Unit Type Pro Forma: 4495
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 4
  • Unit Type Baths Total: 4
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $4,450
  • Unit Type Total Rent: $4,450
  • Unit Type Pro Forma: 4495
  • Unit Type Type: 2
Unit 3
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 3
  • Unit Type Baths Total: 3
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: Yes
  • Unit Type Actual Rent: $3,995
  • Unit Type Total Rent: $3,995
  • Unit Type Pro Forma: 3995
  • Unit Type Type: 3
Unit 4
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 3
  • Unit Type Baths Total: 3
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: Yes
  • Unit Type Actual Rent: $3,995
  • Unit Type Total Rent: $3,995
  • Unit Type Pro Forma: 3995
  • Unit Type Type: 4
Unit Information
  • Number Of Units Leased: 3
  • Rent Controlled: Yes
  • Number Of Buildings: 2
  • Number Of Separate Electric Meters: 4
  • Number Of Separate Gas Meters: 4
  • Number Of Separate Water Meters: 5
  • Number With Dishwasher: 4
  • Number With Range: 4
  • Number With Refrigerator: 4

Property History for 234 North Burlington 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 234 North Burlington Avenue

Taxable ValueLand$632,597Additions$225,160Total$857,757
Tax Record2023$10,503 ($875 / month)
Home Facts
Total Finished SqFt2,038 SqFtAbove Grade Finished SqFt2,038 SqFtLot Size6,000 SqFtStyleTriplexYear Built1914ZoningLARD1.5CountyLOS ANGELESAPN5159-009-005

Schools near 234 North Burlington 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
Public - 9 to 12
Rating
School
Distance
Union Avenue Elementary School
PublicK to 5

Sal Castro Middle School
Public6 to 8

Miguel Contreras Learning Complex School
Public9 to 12

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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234 North Burlington Avenue is a multi-family home for sale in Los Angeles, CA 90026. This property was listed for sale on June 28, 2024 by Myunits.com Inc., it's currently listed at $2,795,000. It has been on the market for a total of 94 days and was last sold on July 5, 2019. This listing's school district is Los Angeles Unified School District. Nearby schools include Union Avenue Elementary School, Sal Castro Middle School and Miguel Contreras Learning Complex School. 234 North Burlington Avenue is a 14-bed, 14-bath, 4,798 sqft multi-family home built in 2023.

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 Myunits.com Inc., Elizabeth Maddox, DRE #01921425; On Track Property, Isaac Davidi, DRE #01819489

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.