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2915 S Burnside Ave Los Angeles, CA 90016

$1,995,000
  • 9 Beds
  • 8 Baths
  • 4,108 Sq.Ft.
For Sale
$1,995,000 Get Pre-Qualified
Map preview of 2915 S Burnside Ave, Los Angeles, CA 90016

Property Overview: 2915 S Burnside Ave Los Angeles, CA has 9 bedrooms, 8 bathrooms, 4,108 living square feet and 9,288 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: We are pleased to offer for sale a seven-unit apartment building located at 2915 South Burnside Avenue. The subject property is located just north of Jefferson Boulevard within the desirable West Adams sub-market. Located in the West Adams neighborhood, this sought-after location offers convenient access to fresh new eateries, employment centers and retail. Amazon Studios, Apple, WarnerMedia and Sony all occupy space in neighboring Culver City This influx has caused many tech and media companies to relocate into West Adams which in turn is experiencing tremendous growth fueled by significant development activity and a growing roster of retail & office tenants. Burnside is less than 1 mile away from Cumulus, which has over 100,000 square feet of retail anchored by Whole Foods. Situated on a 9,288 square foot parcel, the property is comprised of five one-bedroom units, one two-bedroom apartment unit and one two-bedroom house. New ownership can potentially add an Additional Dwelling Unit (ADU) to maximize income and appreciation potential.The surrounding area continues to experience gentrification, making West Adams a compelling value-proposition for tenants who are getting priced out of neighboring submarkets. West Adams is poised for employment and rent growth, making 2915 South Burnside an attractive investment opportunity.

Listed by Sean Rosenzweig | BRE #01406343 | Marcus & Millichap
Last checked: 9 minutes ago | Last updated: May 7th, 2024 | Source CRMLS | DOM: 3
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Home details

Lot Sq. Ft
9,288
HOA Dues
$0/mo
Year built
1923
Garage
--
Property Type:
Multi Family
Status
Active
MLS#
24389049
City
Los Angeles
County
Los Angeles
Time on Site
3 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 7
  • Total # of Buildings: 2
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,782
  • Total Rent: $1,782
  • Pro Forma/Market Rent: $2,407
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $2,055
  • Total Rent: $2,055
  • Pro Forma/Market Rent: $2,407
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,504
  • Total Rent: $1,504
  • Pro Forma/Market Rent: $2,407
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $3,071
  • Total Rent: $3,071
  • Pro Forma/Market Rent: $3,068
Unit Breakdown 5
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,863
  • Total Rent: $1,863
  • Pro Forma/Market Rent: $2,407
Unit Breakdown 6
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $940
  • Total Rent: $940
  • Pro Forma/Market Rent: $2,407
Unit Breakdown 7
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 2
  • Furnishing: Unfurnished
  • Actual Rent: $3,081
  • Total Rent: $3,081
  • Pro Forma/Market Rent: $3,400
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 5.79%
  • Gross Rent Multiplier: 11.63
  • Gross Scheduled Income: --
  • Net Operating Income: $115,501
  • Gross Operating Income: $166,522
Annual Expense Breakdown
  • Total Operating Expense: --

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Property Details for 2915 S Burnside Ave

Interior Features
Kitchen Information
  • Has Appliances
Interior Features
  • Levels: Multi/Split, Two
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Parking Spaces: 7
  • No
  • Parking Features: None
Lot Information
  • Lot Size Source: Assessor
Property Information
  • Total # of Units: 7
  • Parcel Number: 5043022005
  • Year Built Source: Assessor
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Assessment Information
  • No Assessments
Location / Neighborhood
Location Information
  • Directions: West of La Brea Avenue & North of Jeffereson Boulevard
View more facts & features

Local Los Angeles Agent

Sale History for 2915 S Burnside Ave

Last sold for $1,450,000 on December 28th, 2021

  • May, 2024

  • May 7, 2024

    Date

    Active

    CRMLS: 24389049

    $1,995,000

    Price

  • December, 2021

  • Dec 28, 2021

    Date

    Sold

    CRMLS: SR21222935

    $1,450,000

    Price

  • Oct 8, 2021

    Date

    Active

    CRMLS: SR21222935

    $1,999,000

    Price

  • Listing provided courtesy of CRMLS

    Wonderful investment opportunity at this beautiful 6-unit apartment plus one house for a total of 7 Units. This is a great chance to invest in this red-hot Mid-City area, Upgrades include soundproof windows. There are 8 electrical meters and 8 gas meters. Residents love the close proximity to diverse shopping centers, restaurants, nightlife, the 10 and 405 Fwy, LAX airport, parks, UCLA and USC, museums, the property is about 7 miles away from the beach.

  • June, 2015

  • Jun 16, 2015

    Date

    Sold (Public Records)

    Public Records

    --

    Price

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Tax History for 2915 S Burnside Ave

Assessed Value (2020): $308,010
Year Land Value Improved Value Assessed Value
2020 $136,504 $171,506 $308,010

Home Value Compared to the Market

This property vs the competition

2915 S Burnside Ave is listed 59.73% higher than the median list price for the city of Los Angeles which has a median list price of $1,249,000. The median price per/sqft for Los Angeles is $774 and this home is listed at $485.64 per/sqft which puts the price per square foot 37.26% lower than the median price per square foot for the city of Los Angeles.

About 2915 S Burnside Ave

Detailed summary of property

2915 S Burnside Ave is a multi family located in Los Angeles, CA 90016 and is currently for sale. This multi family property offers 9 bedrooms, 8 bathrooms, roughly 4,108 living square feet, and sits on an approximately 9,288 square foot lot. 2915 S Burnside Ave was first listed on ArdentRealEstateGroup.com on May 7, 2024. The homeowner is currently asking $1,995,000. The median priced home in Los Angeles is $1,249,000 with a median price per square foot of $774. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is listed 59.73% higher than the median priced home. Local competing homes currently for sale include 3020 West Blvd, 8664 Cadillac Ave and 1724 S Crescent Heights Blvd. While the average home in Los Angeles, CA is selling in 93 days, 2915 S Burnside Ave has a days on market of 3 days. There are currently 3618 homes for sale in the Los Angeles real estate market and 2437 of them are single family homes while 1084 of them are condos and 92 are townhomes. For more information on this home for sale at 2915 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 2915 S Burnside Ave

Public county record property details
Beds
--
Baths
--
Year built
--
Sq. Ft.
4,108
Lot Size
9,285
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
466,467
APN
5043-022-005

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
75
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%)

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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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