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307 S Burlington Ave, Los Angeles, CA 90057
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307 S Burlington Ave Los Angeles, CA 90057

$1,300,000
  • 2 Beds
  • 10 Baths
  • 3,976 Sq.Ft.
For Sale
$1,300,000 Get Pre-Qualified
Map preview of 307 S Burlington Ave, Los Angeles, CA 90057

Property Overview: 307 S Burlington Ave Los Angeles, CA has 2 bedrooms, 10 bathrooms, 3,976 living square feet and 5,397 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: I am pleased to offer for sale a 10-unit apartment community located at 307 South Burlington Avenue. The subject property is located south of 3rdStreet within the Westlake sub-market, which borders three thriving markets Koreatown, Downtown, and Echo Park. Situated on a 5,397 square foot parcel, the property is comprised of four singles, four studios, and two one-bedroom units. The property has 44% remaining rental upside through unit renovations. The continued gentrification of the surrounding area along with the value-add potential for a new owner to renovate units and achieve superior future returns moving forward makes 307 South Burlington Avenue an excellent acquisition opportunity.

Listed by Sean Rosenzweig | BRE #01406343 | Marcus & Millichap
Last checked: 4 minutes ago | Last updated: April 9th, 2024 | Source CRMLS | DOM: 38
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Home details

Lot Sq. Ft
5,397
HOA Dues
$0/mo
Year built
1925
Garage
--
Property Type:
Multi Family
Status
Active
MLS#
24374935
City
Los Angeles
County
Los Angeles
Time on Site
49 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 10
  • Total # of Buildings: 1
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 0
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $692
  • Total Rent: $692
  • Pro Forma/Market Rent: $1,395
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 0
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $681
  • Total Rent: $681
  • Pro Forma/Market Rent: $1,395
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 0
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,200
  • Total Rent: $1,200
  • Pro Forma/Market Rent: $1,250
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $880
  • Total Rent: $880
  • Pro Forma/Market Rent: $1,750
Unit Breakdown 5
  • # of Units: 1
  • # of Beds: 0
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,159
  • Total Rent: $1,159
  • Pro Forma/Market Rent: $1,395
Unit Breakdown 6
  • # of Units: 1
  • # of Beds: 0
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,264
  • Total Rent: $1,264
  • Pro Forma/Market Rent: $1,395
Unit Breakdown 7
  • # of Units: 1
  • # of Beds: 0
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $979
  • Total Rent: $979
  • Pro Forma/Market Rent: $1,250
Unit Breakdown 8
  • # of Units: 1
  • # of Beds: 0
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $771
  • Total Rent: $771
  • Pro Forma/Market Rent: $1,250
Unit Breakdown 9
  • # of Units: 1
  • # of Beds: 0
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,317
  • Total Rent: $1,317
  • Pro Forma/Market Rent: $1,250
Unit Breakdown 10
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $880
  • Total Rent: $880
  • Pro Forma/Market Rent: $1,750
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 4.63%
  • Gross Rent Multiplier: 11.03
  • Gross Scheduled Income: --
  • Net Operating Income: $60,220
  • Gross Operating Income: $114,368
Annual Expense Breakdown
  • Total Operating Expense: --

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Property Details for 307 S Burlington Ave

Interior Features
Kitchen Information
  • Has Appliances
Interior Features
  • Levels: Two
Lot Details / Garage and Parking
Parking/Garage Information
  • No
  • Parking Features: None
Lot Information
  • Lot Size Source: Assessor
Property Information
  • Total # of Units: 10
  • Parcel Number: 5154022012
  • 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: South of 3rd Street and West of Union Avenue.
View more facts & features

Local Los Angeles Agent

Sale History for 307 S Burlington Ave

Last sold for $1,075,000 on November 15th, 2017

  • April, 2024

  • Apr 1, 2024

    Date

    Active

    CRMLS: 24374935

    $1,300,000

    Price

  • January, 2024

  • Jan 19, 2024

    Date

    Expired

    CRMLS: 23297147

    $1,300,000

    Price

  • Aug 2, 2023

    Date

    Active

    CRMLS: 23297147

    $1,395,000

    Price

  • Listing provided courtesy of CRMLS

  • November, 2017

  • Nov 15, 2017

    Date

    Sold (Public Records)

    Public Records

    $1,075,000

    Price

  • May, 1995

  • May 31, 1995

    Date

    Sold (Public Records)

    Public Records

    $145,000

    Price

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Tax History for 307 S Burlington Ave

Assessed Value (2020): $1,119,030
Year Land Value Improved Value Assessed Value
2020 $728,280 $390,750 $1,119,030

Home Value Compared to the Market

This property vs the competition

307 S Burlington Ave is listed 4% higher than the median list price for the city of Los Angeles which has a median list price of $1,250,000. The median price per/sqft for Los Angeles is $777 and this home is listed at $326.96 per/sqft which puts the price per square foot 57.92% lower than the median price per square foot for the city of Los Angeles.

About 307 S Burlington Ave

Detailed summary of property

307 S Burlington Ave is a multi family located in Los Angeles, CA 90057 and is currently for sale. This multi family property offers 2 bedrooms, 10 bathrooms, roughly 3,976 living square feet, and sits on an approximately 5,397 square foot lot. 307 S Burlington Ave was first listed on ArdentRealEstateGroup.com on April 1, 2024. The homeowner is currently asking $1,300,000. The median priced home in Los Angeles is $1,250,000 with a median price per square foot of $777. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is listed 4% higher than the median priced home. Local competing homes currently for sale include 1932 Park Ave, 1230 S Bonnie Brae St and 961 E Edgeware Rd. While the average home in Los Angeles, CA is selling in 92 days, 307 S Burlington Ave has a days on market of 38 days. There are currently 3712 homes for sale in the Los Angeles real estate market and 2493 of them are single family homes while 1120 of them are condos and 93 are townhomes. For more information on this home for sale at 307 S Burlington Ave Los Angeles, CA 90057 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 307 S Burlington Ave

Public county record property details
Beds
4
Baths
10
Year built
1925
Sq. Ft.
3,976
Lot Size
5,396
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
13
APN
5154-022-012

The source for these homes facts are from public records.

90057 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$590,000
Median List Price/Sq.Ft.
$538
Median Sold Price
$365,000
Median Sold Price/Sq.Ft.
$773
Total Inventory
12
Median Sale to List Price %
104.58%
Avg Days on Market
15
Loan Type
Conventional (0%), FHA (0%), VA (0%), Cash (0%), Other (0%)

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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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