323 S Burlington Ave Los Angeles, CA 90057

$2,000,000 Sold Price as of 03/04/2020

13 Beds
10 Baths
8,537 Sq.Ft.

Off Market

$2,000,000 Sold Price as of 03/04/2020 Refinance Your Mortgage

Map preview of 323 S Burlington Ave, Los Angeles, CA 90057

Property Overview: 323 S Burlington Ave Los Angeles, CA has 13 bedrooms, 10 bathrooms, 8,537 living square feet and 11,430 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Home Value Compared to the Market

323 S Burlington Ave is currently an off market home in the city of Los Angeles. If you are considering making a home purchase, the value you pay for your home will depend on the market you're looking to purchase in. The city of Los Angeles has a median list price of $1,250,000. The median price per/sqft for Los Angeles is $777. With those numbers in mind, if you are looking to purchase a median priced home in Los Angeles, CA and put 20% down you will need to save up $250,000 for the down payment and will need roughly $25,000 for closing costs on top of the down payment. Homeowners who are looking to sell their home could expect to pay an average of 5% (2.5% to the listing agent and 2.5% to the buyers agent) in agent commissions when it comes to selling their home. With the median sale price for a home in Los Angeles the commission could be as much as $59,500. If you're thinking of selling and want to save, contact a local Ardent Real Estate Agent today.

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Sale History for 323 S Burlington Ave

Last sold for $2,000,000 on March 4th, 2020

June, 2022
Jun 29, 2022

Date

Canceled

CRMLS: 22121707

$2,450,000

Price
Jan 21, 2022

Date

Active

CRMLS: 22121707

$2,500,000

Price
Listing provided courtesy of CRMLS

Built in 1928, this property made up of two fourplexes, a two-bedroom house and a four-bedroom house for a total of 10 units. The fourplexes consist of six one-bedroom units and two two-bedrooms. This is a rare value-add opportunity, as the property will be delivered with RTI plans to build two 2+2 ADU's (872 SF each) in place of the existing parking. By building the ADU's and continuing to turn the existing units, an investor has the opportunity to achieve a 8.14% CAP rate upon stabilization, including construction costs.Considering the high velocity of new developments in proximity, 323 S. Burlington Avenue presents an ideal infill location in one of the most densely populated submarkets of Los Angeles. The total lot size is 11,430 SF currently zoned R4-1 in a Tier 3 TOC. Proposed and under construction projects within 0.5 miles of the subject property include Hope on Alvarado (166 S Alvarado St), the Lake on Wilshire (478 units), and the Hartford Villa Apartments (101 units).Current rents of the existing units are below market and provide significant rental upside of over 45%. The buildings are separately metered for gas and electric and have individual water heaters.The Westlake neighborhood continues to be a strong rental submarket with rising rents year over year and demand continuing, illustrated by the rapid growth of new developments. The subject property has a walk score of 91 and just down the street from the Metro Purple Line and Metro Red Line at the Westlake/ MacArthur Park Station stop. Residents have the convenience of amenities surrounding them on W. Third Street, Wilshire Boulevard, and Beverly Boulevard just blocks away.

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March, 2020
Mar 4, 2020

Date

Sold (Public Records)

Public Records

$2,000,000

Price
March, 2020
Mar 4, 2020

Date

Sold (Public Records)

Public Records

--

Price

Tax History for 323 S Burlington Ave

Assessed Value (2020): $463,494

Year	Land Value	Improved Value	Assessed Value
2020	$364,178	$99,316	$463,494

About 323 S Burlington Ave

Detailed summary of property

323 S Burlington Ave is categorized with a use code of Apartment House (5+ Units) in Los Angeles, CA 90057 and last sold on March 4, 2020 for $2,000,000. This property has 13 bedrooms, 10 bathrooms, roughly 8,537 living square feet, and sits on an approximately 11,430 square foot lot. Homes 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 68.07% higher than the current median priced home. 323 S Burlington Ave was last sold on March 4, 2020 for $2,000,000. Local nearby listings include 1100 Wilshire Blvd #2207, 1329 Linwood Ave and 334 Belmont Ave. The average home in Los Angeles, CA is selling in 92 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. If you are the homeowner and looking to sell the home at 323 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 323 S Burlington Ave

Public county record property details

Beds: 13
Baths: 10
Year built: 1928
Sq. Ft.: 8,537
Lot Size: 11,430
Stories: --

Type: Apartment House (5+ Units)
Pool: No
Spa: No
County: Los Angeles
Lot#: 17,18
APN: 5154-022-016

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

$649,000

Median List Price/Sq.Ft.

$538

Median Sold Price

$365,000

Median Sold Price/Sq.Ft.

$773

Total Inventory

Median Sale to List Price %

104.58%

Avg Days on Market

Loan Type

Conventional (0%), FHA (0%), VA (0%), Cash (0%), Other (0%)

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