625 S Burlington Avenue is a 48 unit apartment building consisting of (40) Singles and (8) 1+1 units. Constructed in 1928, this 4 story walk up is built of reinforced brick and is master metered for both gas and electric. Extensive upgrades done the the property including refinished hardwood floors, laminate counter tops, a new $10,000 boiler system, plumbing, and roof. Units are newly renovated as tenants move out. Occupancy rate is historically high in the building as there has always been applications lined up for the units to be leased. The Burlington Apartments offers astute investors approximately 15% upside in rental growth, with aggressive management, this property is a perfect value add opportunity.
Subject property is located in the heart of the Westlake District flanked by Koreatown to the West, Silver Lake and Echo Park to the North and Downtown to the East. Just North of Wilshire Bloulevard. The Burlington Apartments is located a few blocks East of MacArthur Park and is conveniently located near Home Depot, Food 4 less, an
Updated on March 6, 2017 at 2:54 pm
BURLINGTON APARTMENTS - 625 S. Burlington Ave.
