$1,995,000 Price Analysis   ♡   Los Angeles, CA 90016 9 bed 8 bath 4,108 SqFt ($485/SqFt) 9,288SqFt lot. Built 1923 Listed 2024-05-07, Taxes $17,978 | Ⓧ USDA Ineligible due to price & location near Los Angeles |
We are pleased to offer for sale a seven-unit apartment building located at 2915 South Burnside Avenue.
The subject property is located 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 eteries, 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 and 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. Brand new ownership can add an Ad ditional Dwelling Unit (ADU) to maximize income and appreciation potential. Permits are RTI Status. 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.
Presented by Sean Rosenzweig at
Marcus & Millichap.
Property MLS #24-389049 from TheMLSCLAW
Full Bathrooms: 8
Lot Size Dimensions: 60x155
Lot Size Source: Assessor
Lot Size Square Feet: 9288
Calculated Total Monthly Association Fees: 0
Number of Units: 7
Unit Features: 1 BedsTotal: 1, 1 BathsTotal: 1, 1 SquareFeet: 2407, 2 BedsTotal: 1, 2 BathsTotal: 1, 2 SquareFeet: 2407, 3 BedsTotal: 1, 3 BathsTotal: 1, 3 SquareFeet: 2407, 4 BedsTotal: 2, 4 BathsTotal: 1, 4 SquareFeet: 3068, 5 BedsTotal: 1, 5 BathsTotal: 1, 5 SquareFeet: 2407, 6 BedsTotal: 1, 6 BathsTotal: 1, 6 SquareFeet: 2407, 7 BedsTotal: 2, 7 BathsTotal: 2, 7 SquareFeet: 3400
County: Los Angeles
Cap Rate: 5.61
Directions: West of La Brea Avenue & North of Jeffereson Boulevard
Source Property Type: Residential Income
Area: Mid Los Angeles
Source Neighborhood: Mid Los Angeles
Parcel Number: 5043-022-005
Postal Code Plus 4: 3727
Zoning: LARD1.5
Source System Name: C2C
| Year | Assessments Building + Land Total | Tax |
|---|---|---|
| 2022 | $400,000 + $1,050,000 $1,450,000 | $17,978 |
| 2021 | $173,282 + $137,918 $311,200 | $4,701 |
| 2020 | $171,506 + $136,504 $308,010 | $4,736 |
| 2019 | $168,144 + $133,828 $301,972 | $4,242 |
| 2018 | $164,848 + $131,204 $296,052 | $4,105 |
| 2017 | $161,616 + $128,632 $290,248 | $4,027 |
| 2016 | $158,448 + $126,110 $284,558 | $3,894 |
| 2015 | $156,068 + $124,216 $280,284 | $3,844 |
| 2014 | $153,011 + $121,783 $274,794 | $3,907 |
| 2013 | $152,320 + $121,233 $273,553 | $4,200 |
| 2012 | $149,334 + $118,856 $268,190 | $4,250 |
| 2010 | $146,406 + $116,526 $262,932 | $4,102 |
| 2009 | $145,658 + $115,931 $261,589 | $3,964 |
| 2009 | $145,312 + $115,656 $260,968 | $3,964 |
| 2008 | $142,802 + $113,658 $256,460 | $3,823 |
| 2007 | $140,002 + $111,430 $251,432 | $3,698 |
$1,995,000
TheMLSCLAW
Sold 2021-12-28
$1,450,000
Public Record
Year Built: 1923
Levels: Multi Levels, Two Level
Living Area Source: Assessor
Property Age: 101
Levels or Stories: 2
Building Total Stories: 2
Year Built Source: Assessor
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The property loan eligibility may be subject to additional requirements beyond geographical location including but not limited to the condition of the property. Speak with a real estate professional to find out more about the eligibility of a specific property.