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259 & 265 N Burlington Avenue
USD 3,890,000
房产编号: 23302927
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259 & 265 N Burlington Avenue ,90026
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icon 12000 SqFt
icon Built in 1960
icon USD 324/SqFt
icon 10 Beds
icon 0 Full
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位置 街景
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室内细节
卧室
10
浴室
0
室内面积
13131
建筑细节
物业类型 --
房屋状况 --
建筑风格 --
新建房产 --
建造年份 1960
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此房屋详细介绍
We are very pleased to present the exclusive opportunity to acquire two properties located side by side in one of LA's hottest neighborhoods, Echo Park. 259 N. Burlington Avenue and 265 N. Burlington Avenue, two amazing value-add opportunities offer today's savvy value-add Buyer the chance to purchase both an 8 unit apartment building and a 6,000 SF Zoned RD 1.5 with RTI permits for a 5 unit multi-family development. This historic and diverse neighborhood is home to Dodgers Stadium and Echo Park Lake, which recently re-opened after a $45 million renovation. Dine at some of the best restaurants in all of Los Angeles, including Valerie, El Prado, Ototo Sake Bar, Monty's Good Burger and Guisados Tacos which was included in Conde Nast Traveler's guide to "Best Restaurants in the World". Echo Park is also home to the Chavez Ravine Arboretum, the first and oldest Arboretum in Southern California. 259 N. Burlington Avenue is an 8-unit apartment building, 5 of 8 units will be delivered, including a newly constructed 2+1 ADU. Totaling 5,031 SF, this building features six 1-bedroom units and two 2-bedroom units. Seismic retrofit has already been completed. 5 of 8 units delivered vacant, 4 of which ready to be re-imagined and leased at market rents and one unit, the newly built 2+1 ADU complete with high-end designer kitchen, in-unit washer/dryer and AC, is ready to be leased at full market rent. Priced at $2,395,000, this 8-unit property will offer (once currently vacant units are remodeled and re-leased) a 5.2% cap and a 13 GRM, which future upside in the 3 under market rents to be increased in the future. To be purchased separately or together from the 8-unit building, 265 N. Burlington is a 6,000 SF RD 1.5 Corner lot with fully RTI plans for 5 new construction units. The RTI plans call for two detached duplexes that each offer two 5 bedrooms and 5 bathrooms and one ADU that is a 2 bedroom plus loft plus 2.5 bathrooms. When completed, the new development will offer 8,100 net rentable square feet. Total future income will total over $24,200 per month, with an ARV of $4,100,000, to be held or sold upon completion, whichever the new owners prefer. Priced at $1,495,000 this fully RTI corner development site is ready for a new owner to close and break ground! 259 & 265 N. Burlington Avenue are located just minutes away from Dodger Stadium, Echo Park Lake, USC as well as several billion-dollar developments in Downtown Los Angeles, including L.A.LIVE, Crypto.com and the Red Line Station, as well as several new high-end multi-family developments all nearby. Don't miss the chance to renovate this mostly vacant 8 unit building and build the new 5 unit while still producing income on this incredible value-add opportunity in this prime Silver Lake/Echo Park neighborhood!
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Cissy Tang
电话: (+1)626 9868**** icon
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联系开发/经纪人
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Cissy Tang
(+1)626 9868**** icon
请输入您的国籍
+87
不能为空
电子邮件地址无效 电子邮件地址未验证!
Cissy Tang
(+1)626 9868**** icon
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259 & 265 N Burlington Avenue
USD 3,890,000 10 Beds
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