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2305 S Burnside Ave, Los Angeles, CA 90016
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2305 S Burnside Ave Los Angeles, CA 90016

$1,138,500
  • 7 Beds
  • 3 Baths
  • 1,973 Sq.Ft.
For Sale
$1,138,500 Get Pre-Qualified
Map preview of 2305 S Burnside Ave, Los Angeles, CA 90016

Property Overview: 2305 S Burnside Ave Los Angeles, CA has 7 bedrooms, 3 bathrooms, 1,973 living square feet and 5,791 square feet lot size. Call an Ardent Real Estate Group agent to verify current availability of this home or with any questions you may have.

Agent Remarks: 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.

Listed by Behrouz Lavi | BRE #01482721 | Keller Williams Realty-Studio City
Last checked: 6 minutes ago | Last updated: September 4th, 2024 | Source CRMLS | DOM: 99

Home details

Lot Sq. Ft
5,791
HOA Dues
$0/mo
Year built
1924
Garage
4 Car
Property Type:
Triplex
Status
Active
MLS#
SR24117674
City
Los Angeles
County
Los Angeles
Time on Site
99 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 3
  • Total # of Buildings: 2
  • # of Electric Meters: 3
  • # of Gas Meters: 3
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 3
  • # of Baths: 1
  • Garage Spaces: 2
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $2,800
  • Total Rent: $2,800
  • Pro Forma/Market Rent: $3,500
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Total Rent: $0
  • Pro Forma/Market Rent: $2,600
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 2
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $2,374
  • Total Rent: $2,375
  • Pro Forma/Market Rent: $2,600
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 6.1%
  • Gross Rent Multiplier: 12.2
  • Gross Scheduled Income: $93,588
  • Net Operating Income: $69,800
  • Gross Operating Income: --
Annual Expense Breakdown
  • Total Operating Expense: $23,488
  • Electric: $0
  • New Taxes: $12,500
  • Trash: $0
  • Gardener: $588
  • Insurance: $4,500
  • Maintenance: $2,400
  • Water/Sewer: $3,000

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Property Details for 2305 S Burnside Ave

Interior Features
Laundry Information
  • No Laundry
  • None
Exterior Features
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Garage Spaces: 4
  • # of Parking Spaces: 4
Lot Information
  • Lot Features: 2-5 Units/Acre
  • Lot Size Source: Assessor
  • Common Interest: None
Property Information
  • Common Walls: 1 Common Wall
  • Total # of Units: 3
  • Parcel Number: 5063019036
  • Year Built Source: Assessor
  • Entry Level: 1
  • Property is Attached
Homeowners Association, Utilities, Taxes / Assessments
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
Location / Neighborhood
Location Information
  • Directions: North of 10 freeway, East of Fairfax
Neighborhood Information
  • Community Features: Urban
View more facts & features

Local Los Angeles Agent

Sale History for 2305 S Burnside Ave

Last sold for $860,000 on September 28th, 2020

  • June, 2024

  • Jun 10, 2024

    Date

    Active

    CRMLS: SR24117674

    $1,150,000

    Price

  • September, 2022

  • Sep 1, 2022

    Date

    Expired

    CRMLS: 22123543

    $1,195,000

    Price

  • Feb 1, 2022

    Date

    Active

    CRMLS: 22123543

    $1,295,000

    Price

  • Listing provided courtesy of CRMLS

    $100K Price REDUCTION- ALL UNITS we be delivered VACANT- Investors looking for a ready remodel property. Endless possibilities in One of the most rapidly transforming neighborhoods of Los Angeles. This 3 unit multifamily property is remodeled. market rent for new income-generating 6.5% cap rater existing on this 5820SQ ft RD1.5 zoning with no tenants. This 3 unit income property features. It's perfect for Owner Users with no sharing walls. Each unit has an open kitchen concept, room to add a washer and dryer, two entrances, and an open floor plan great location close to culver city, Beverly Hills, and Downtown Los Angeles. 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. The property is being sold in AS-IS condition.Broker/Agent does not guarantee the accuracy of the square footage, lot size, or other information concerning the conditions or features of the property provided by the seller or obtained from Public Records or other sources. Buyer is advised to independently verify the accuracy of all information through personal inspection and with appropriate professionals.

  • September, 2020

  • Sep 29, 2020

    Date

    Sold

    CRMLS: SR20193146

    $860,000

    Price

  • Sep 21, 2020

    Date

    Pending

    CRMLS: SR20193146

    $850,000

    Price

  • Sep 16, 2020

    Date

    Active

    CRMLS: SR20193146

    $850,000

    Price

  • Listing provided courtesy of CRMLS

    Attention all developers - Investors looking for a ready to remodel project and first time home buyers. Endless possibilities in One of the most rapidly transforming neighborhoods of Los Angeles. This 3 unit multifamily property is ready for remodeling. Collect market rent for new income-generating 6.5% cap rater per proforma and immediately add value or demolish existing buildings and build 3 townhome-style apartments on this 5820SQ ft RD1.5 zoning with no tenants relocation fees. This 3 unit income property features a front duplex Two 1 bed /1 Bath, and the end unit features 2 bedrooms + Den /1 bath. It’s perfect for Owner User with no sharing walls. Each unit has an open kitchen concept, room to add washer and dryer, two entrances, and an open floor plan—great location close to culver city, Beverly Hills, and Downtown Los Angeles. 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. The property is being sold in AS-IS condition.

  • September, 2020

  • Sep 28, 2020

    Date

    Sold (Public Records)

    Public Records

    $860,000

    Price

  • July, 2020

  • Jul 28, 2020

    Date

    Expired

    CRMLS: SR20078747

    $825,000

    Price

  • Jul 6, 2020

    Date

    Price Change

    CRMLS: SR20078747

    $825,000

    Price

  • Jun 1, 2020

    Date

    Price Change

    CRMLS: SR20078747

    $839,000

    Price

  • Apr 24, 2020

    Date

    Active

    CRMLS: SR20078747

    $850,000

    Price

  • Listing provided courtesy of CRMLS

    PRICE REDUCED. HARD TO FIND RD1.5 ZONING with the potential to build 3 large Town-Home Style Apartments. This Unique Triplex sits in the heart of desirable Mid-Wilshire. Great opportunity to live in one unit while the other units are rented or have this as an investment with an upside in rent. Great location close to Culver City, Beverly Hills, and Downtown Los Angeles. The neighborhood is going through a major change with new constructions and many tech companies are investing in culver city with high pay jobs .VCs invested close to $1 billion in Culver City startups companies.

  • March, 2020

  • Mar 4, 2020

    Date

    Sold (Public Records)

    Public Records

    $790,000

    Price

  • March, 2020

  • Mar 3, 2020

    Date

    Sold

    CRMLS: SR20035141

    $790,000

    Price

  • Feb 20, 2020

    Date

    Pending

    CRMLS: SR20035141

    $750,000

    Price

  • Feb 19, 2020

    Date

    Active

    CRMLS: SR20035141

    $750,000

    Price

  • Listing provided courtesy of CRMLS

    Developers- Investors, zoned LARD1.5.One of the most rapidly transforming neighborhoods of Los Angeles. This 3 unit multifamily property features a front duplex Two 1 bed /1 Bath Back building features 2 bedrooms 1 bath. Each unit has an open concept kitchen, living room, and dining room floor plan with room to add washer and dryer. , Great location close to culver city, Beverly Hills and Downtown Los Angeles. 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.

  • June, 2019

  • Jun 28, 2019

    Date

    Canceled

    CRMLS: DW19099007

    $799,000

    Price

  • Jun 27, 2019

    Date

    Active

    CRMLS: DW19099007

    $799,000

    Price

  • Jun 3, 2019

    Date

    Active Under Contract

    CRMLS: DW19099007

    $799,000

    Price

  • Jun 1, 2019

    Date

    Active

    CRMLS: DW19099007

    $799,000

    Price

  • May 31, 2019

    Date

    Hold

    CRMLS: DW19099007

    $799,000

    Price

  • May 1, 2019

    Date

    Active

    CRMLS: DW19099007

    $799,000

    Price

  • Listing provided courtesy of CRMLS

    Excellent opportunity to own or invest in West Adams area, one of the most rapidly transforming neighborhoods of Los Angeles. Live in the middle, rent the front & back for rental income. This 3 unit multifamily property features a front duplex 2 bed /1 Bath and 1 Bed /1 Bath side by side units with 1,137 Sq Ft. Back building features 2 bedrooms 1 bath with 800 Sq Ft. Each unit has an open concept kitchen, living room and dining room floor plan with washer and dryer. Large lot zoned LARD1.5, Great location and in proximity to LA Rams Stadium, LAX, Expo line and major freeways. 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. Middle unit of 1 Bed / 1 Bath will be delivered vacant at close of escrow.

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Tax History for 2305 S Burnside Ave

Assessed Value (2020): $46,738
Year Land Value Improved Value Assessed Value
2020 $25,521 $21,217 $46,738

Home Value Compared to the Market

This property vs the competition

2305 S Burnside Ave is listed 5.12% lower than the median list price for the city of Los Angeles which has a median list price of $1,200,000. The median price per/sqft for Los Angeles is $768 and this home is listed at $577.04 per/sqft which puts the price per square foot 24.86% lower than the median price per square foot for the city of Los Angeles.

About 2305 S Burnside Ave

Detailed summary of property

2305 S Burnside Ave is a triplex located in Los Angeles, CA 90016 and is currently for sale. This triplex offers 7 bedrooms, 3 bathrooms, roughly 1,973 living square feet, and sits on an approximately 5,791 square foot lot. 2305 S Burnside Ave was first listed on ArdentRealEstateGroup.com on June 11, 2024. The homeowner is currently asking $1,138,500 and was originally asking $1,150,000. The median priced home in Los Angeles is $1,200,000 with a median price per square foot of $768. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is listed 5.12% lower than the median priced home. Local competing homes currently for sale include 5435 Smiley Dr, 5346 Smiley Dr and 5426 Smiley Dr. While the average home in Los Angeles, CA is selling in 106 days, 2305 S Burnside Ave has a days on market of 99 days. There are currently 4052 homes for sale in the Los Angeles real estate market and 2782 of them are single family homes while 1148 of them are condos and 116 are townhomes. For more information on this home for sale at 2305 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 2305 S Burnside Ave

Public county record property details
Beds
4
Baths
3
Year built
1924
Sq. Ft.
1,937
Lot Size
5,821
Stories
--
Type
Triplex (3 Units, Any Combination)
Pool
No
Spa
No
County
Los Angeles
Lot#
37
APN
5063-019-036

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
$1,000,000
Median List Price/Sq.Ft.
$708
Median Sold Price
$1,012,000
Median Sold Price/Sq.Ft.
$691
Total Inventory
82
Median Sale to List Price %
101.2%
Avg Days on Market
35
Loan Type
Conventional (17.65%), FHA (0%), VA (0%), Cash (11.76%), Other (0%)

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Recently Sold Homes Near 2305 S Burnside Ave

2236 S Burnside Ave, Los Angeles, CA 90016
$960,000 Last Sold Price
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2 Baths
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2339 S Dunsmuir Ave, Los Angeles, CA 90016
$855,000 Last Sold Price
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1300 Sq.Ft.
2339 S Dunsmuir Ave
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2225 S Burnside Ave, Los Angeles, CA 90016
$1,265,000 Last Sold Price
9 Beds
4 Baths
3767 Sq.Ft.
2225 S Burnside Ave
Los Angeles, CA 90016
2401 S Dunsmuir Ave, Los Angeles, CA 90016
$1,180,000 Last Sold Price
2 Beds
2 Baths
-- Sq.Ft.
2401 S Dunsmuir Ave
Los Angeles, CA 90016

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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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