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Multifamily

4312 Burns Ave

4312 Burns Ave, Los Angeles, CA 90029

Listing Price: $2,050,000

Cap Rate
4.01%
Number of Units
10
Occupancy
100.0%
Price/Unit
$205,000
Price/Gross SF
$355.90
Gross SF
5,760

Investment Overview

Marcus and Millichap is pleased to present a ten (10) unit apartment building located at 4312 Burns Avenue in Los Angeles, California. The subject property is situated in a prime Virgil Village location one block outside of Silver Lake, west of North Virgil Avenue and south of Santa Monica Boulevard. Silver Lake is an Eastside neighborhood that fully embraces the hipster lifestyle. Although often described as the Brooklyn of Los Angeles, Silver Lake is much more than just a hipster haven. The popular central L.A. neighborhood has gone from urban grit to sophisticated chic over the years and is home to celebrities, creatives, professionals, and an ever increasing number of families. Funky blocks with street art are lined with artisanal coffee shops, vegan cafes and creative Asian eateries, as well as indie music venues, trendy bars and boutiques. These food and entertainment centers earned this area a walk score of 80. The area also includes fine examples of modernist architecture and a namesake reservoir that is ringed by a popular walking trail with a dog park and a grassy meadow. Silver Lake is diverse, eclectic, and above all, authentic. It offers some of the best of L.A. living, in close proximity to Hollywood and Downtown Los Angeles and incredible hilltop views, independent boutique shopping, and an increasingly popular dining scene. Residents also enjoy the easy access to sought-after outdoor spaces such as Silver Lake Meadows, Silver Lake Dog Park, Barnsdall Art Park, Bellevue Park Basketball Courts, Echo Park, and Elysian Park. The famous Elysian Park is home to Secret Swing Angels Point, Dodger Stadium, Victory Memorial Grove, Radio Hill, and is adjacent to Los Angeles State Historic Park. Built in 1923, this property contains a streamlined unit mix of ten (10) one-bedroom / one-bathroom units across three (3) detached buildings on a large 9,570 square foot lot with Tier 3 TOC development incentives. Just past the gated and secure entryway is a charming center courtyard. The units feature individual water heaters and copper plumbing throughout. Tenants will love being within walking distance so some of the trendiest restaurant, retail, and entertainment amenities across Virgil Village and Silver Lake. Some of these amenities include Alma’s Cider & Beer right next door, Bolita, Virgil Normal, Erewhon Market, The Black Cat, Bacari Silverlake + Bar Bacari, Pine and Crane, and many more. Outdoor recreation is also available less than half a mile away at the Bellevue Recreation Center and Park. Residents of this building have central access to all that Los Angeles has to offer. Situated in a prime Virgil Village location one block outside of Silver Lake, this offering presents an excellent opportunity for any investor to capitalize on over 85% rental upside potential in an opportunity zone with tax benefits.

Investment Highlights

  • Prime Virgil Village Location, One Block Outside of Silver Lake
  • Walking Distance to Sunset Junction
  • Significant Rental Upside Potential (Over 85% Increase)
  • Located in an Opportunity Zone with Tax Benefits & Tier 3 TOC Development Incentives
  • Long Term Owner
  • Bungalow Style Units with a Charming Center Courtyard
  • Units Feature Individual Water Heaters & Copper Plumbing Throughout
  • Dominant Access to Commercial Corridors on N Virgil Ave, N Vermont Ave, & Santa Monica Blvd

Exclusively Listed By

Financing By

Multifamily

4312 Burns Ave

Listing Price: $2,050,000

Cap Rate
4.01%
Number of Units
10
Occupancy
100.0%
Price/Unit
$205,000
Price/Gross SF
$355.90
Gross SF
5,760

Investment Highlights

  • Prime Virgil Village Location, One Block Outside of Silver Lake
  • Walking Distance to Sunset Junction
  • Significant Rental Upside Potential (Over 85% Increase)
  • Located in an Opportunity Zone with Tax Benefits & Tier 3 TOC Development Incentives
  • Long Term Owner
  • Bungalow Style Units with a Charming Center Courtyard
  • Units Feature Individual Water Heaters & Copper Plumbing Throughout
  • Dominant Access to Commercial Corridors on N Virgil Ave, N Vermont Ave, & Santa Monica Blvd

Investment Overview

Marcus and Millichap is pleased to present a ten (10) unit apartment building located at 4312 Burns Avenue in Los Angeles, California. The subject property is situated in a prime Virgil Village location one block outside of Silver Lake, west of North Virgil Avenue and south of Santa Monica Boulevard. Silver Lake is an Eastside neighborhood that fully embraces the hipster lifestyle. Although often described as the Brooklyn of Los Angeles, Silver Lake is much more than just a hipster haven. The popular central L.A. neighborhood has gone from urban grit to sophisticated chic over the years and is home to celebrities, creatives, professionals, and an ever increasing number of families. Funky blocks with street art are lined with artisanal coffee shops, vegan cafes and creative Asian eateries, as well as indie music venues, trendy bars and boutiques. These food and entertainment centers earned this area a walk score of 80. The area also includes fine examples of modernist architecture and a namesake reservoir that is ringed by a popular walking trail with a dog park and a grassy meadow. Silver Lake is diverse, eclectic, and above all, authentic. It offers some of the best of L.A. living, in close proximity to Hollywood and Downtown Los Angeles and incredible hilltop views, independent boutique shopping, and an increasingly popular dining scene. Residents also enjoy the easy access to sought-after outdoor spaces such as Silver Lake Meadows, Silver Lake Dog Park, Barnsdall Art Park, Bellevue Park Basketball Courts, Echo Park, and Elysian Park. The famous Elysian Park is home to Secret Swing Angels Point, Dodger Stadium, Victory Memorial Grove, Radio Hill, and is adjacent to Los Angeles State Historic Park. Built in 1923, this property contains a streamlined unit mix of ten (10) one-bedroom / one-bathroom units across three (3) detached buildings on a large 9,570 square foot lot with Tier 3 TOC development incentives. Just past the gated and secure entryway is a charming center courtyard. The units feature individual water heaters and copper plumbing throughout. Tenants will love being within walking distance so some of the trendiest restaurant, retail, and entertainment amenities across Virgil Village and Silver Lake. Some of these amenities include Alma’s Cider & Beer right next door, Bolita, Virgil Normal, Erewhon Market, The Black Cat, Bacari Silverlake + Bar Bacari, Pine and Crane, and many more. Outdoor recreation is also available less than half a mile away at the Bellevue Recreation Center and Park. Residents of this building have central access to all that Los Angeles has to offer. Situated in a prime Virgil Village location one block outside of Silver Lake, this offering presents an excellent opportunity for any investor to capitalize on over 85% rental upside potential in an opportunity zone with tax benefits.

Exclusively Listed By

Financing By

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