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2037 S Burnside Ave, Los Angeles, CA 90016
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2037 S Burnside Ave Los Angeles, CA 90016

$1,200,000 Sold Price as of 04/07/2021
  • 7 Beds
  • 4 Baths
  • 3,296 Sq.Ft.
Sold
$1,200,000 Sold Price as of 04/07/2021 Refinance Your Mortgage
Map preview of 2037 S Burnside Ave, Los Angeles, CA 90016

Property Overview: 2037 S Burnside Ave Los Angeles, CA has 7 bedrooms, 4 bathrooms, 3,296 living square feet and 5,770 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: Built in 1963, this fourplex totals 3,296 SF and is located in Mid-City, just south of Washington Blvd. The building features a unit mix of one one-bedroom and three two-bedroom apartments with laundry in each unit. This offering presents an investor the opportunity to acquire a value-add asset with 61% rental upside and a pro forma CAP rate of 7.29% after renovations when the units turn. The property is being offered at a low price per square foot of $311 and a low price per unit of $256,250. Ease of management as gas and electric are separately metered. Furthermore, there are 8 parking spaces total, four in the front and four in the back. Mid-city is a densely populated neighborhood with historical and architectural significance. The demand for apartment units in this neighborhood continues to increase year-over-year due to the centralized location with convenient access to the 10.

Listed by Neema Ahadian | BRE #01346750 | Marcus & Millichap
Last checked: 2 minutes ago | Last updated: June 5th, 2023 | Source CRMLS | DOM: 70

Home details

Lot Sq. Ft
5,770
HOA Dues
$0/mo
Year built
1963
Garage
--
Property Type:
Multi Family
Status
Sold
MLS#
21685780
City
Los Angeles
County
Los Angeles
Time on Site
1203 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 4
  • Total # of Buildings: 1
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,318
  • Total Rent: $1,318
  • Pro Forma/Market Rent: $1,750
Unit Breakdown 2
  • # of Units: 3
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,382
  • Total Rent: $4,416
  • Pro Forma/Market Rent: $7,050
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 3.76%
  • Gross Rent Multiplier: 15.63
  • Gross Scheduled Income: --
  • Net Operating Income: $38,580
  • Gross Operating Income: $62,290
Annual Expense Breakdown
  • Total Operating Expense: --

Property Details for 2037 S Burnside Ave

Interior Features
Laundry Information
  • Has Laundry
  • Washer Included, Dryer Included
Room Information
  • Flooring: Wood, Tile, Carpet
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Parking Spaces: 8
  • Has Parking
  • Parking Features: Driveway
Property Information
  • Total # of Units: 4
  • Parcel Number: 5063018015
  • Foundation Details: Slab
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Location / Neighborhood
Location Information
  • Directions: Just south of Washington Blvd
View more facts & features

Local Los Angeles Agent

Sale History for 2037 S Burnside Ave

Last sold for $1,200,000 on April 7th, 2021

  • April, 2021

  • Apr 12, 2021

    Date

    Sold

    CRMLS: 21685780

    $1,200,000

    Price

  • Feb 22, 2021

    Date

    Active Under Contract

    CRMLS: 21685780

    $1,025,000

    Price

  • Jan 27, 2021

    Date

    Active

    CRMLS: 21685780

    $1,025,000

    Price

  • April, 2019

  • Apr 1, 2019

    Date

    Sold (Public Records)

    Public Records

    --

    Price

  • February, 2014

  • Feb 7, 2014

    Date

    Sold (Public Records)

    Public Records

    --

    Price

Show More

Tax History for 2037 S Burnside Ave

Assessed Value (2020): $666,926
Year Land Value Improved Value Assessed Value
2020 $470,772 $196,154 $666,926

Home Value Compared to the Market

This property vs the competition

2037 S Burnside Ave sold on April 7, 2021 for 13.87% lower than the current median sold price for the city of Los Angeles which is $1,190,000. The median sold price per/sqft for Los Angeles is $755 and this home is sold at $310.98 per/sqft which puts the price per square foot 58.81% lower than the current median sale per square foot for the city of Los Angeles.

About 2037 S Burnside Ave

Detailed summary of property

2037 S Burnside Ave is a multi family that recently sold in Los Angeles, CA 90016. This multi family property offered 7 bedrooms, 4 bathrooms, roughly 3,296 living square feet, and sits on an approximately 5,770 square foot lot. 2037 S Burnside Ave was first listed on ArdentRealEstateGroup.com on January 27, 2021. The homeowner sold the property for $1,200,000. Home in Los Angeles are selling for a median price of $1,190,000 and a median price per square foot of $755. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is sold 13.87% lower than the current median priced home. Local homes that are currently for sale include 5426 Smiley Dr, 4840 Mascot St and 1430 S Orange Dr. While the average home in Los Angeles, CA is selling in 94 days, 2037 S Burnside Ave has a days on market of 70 days. There are currently 3654 homes for sale in the Los Angeles real estate market and 2456 of them are single family homes while 1102 of them are condos and 90 are townhomes. For more information on this home for sale at 2037 S Burnside Ave Los Angeles, CA 90016 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 2037 S Burnside Ave

Public county record property details
Beds
--
Baths
--
Year built
--
Sq. Ft.
3,296
Lot Size
5,770
Stories
--
Type
Quadruplex (4 Units, Any Combination)
Pool
No
Spa
No
County
Los Angeles
Lot#
7
APN
5063-018-015

The source for these homes facts are from public records.

90016 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$1,099,000
Median List Price/Sq.Ft.
$774
Median Sold Price
$885,000
Median Sold Price/Sq.Ft.
$699
Total Inventory
77
Median Sale to List Price %
98.44%
Avg Days on Market
30
Loan Type
Conventional (21.05%), FHA (0%), VA (0%), Cash (10.53%), Other (10.53%)

Thinking of Selling?

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(714) 706-1823

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Based on information from California Regional Multiple Listing Service, Inc. as of 2019. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

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