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Multifamily

2915 S Burnside Avenue

2915 Burnside Ave, Los Angeles, CA 90016

Listing Price: $1,995,000

Cap Rate
5.61%
Number of Units
7
GRM
11.63
Price/Unit
$285,000
Price/Gross SF
$485.64
Gross SF
4,108

Investment Overview

Marcus & Millichap, as the exclusive listing agent, is pleased to offer for sale a seven-unit apartment building located at 2915 South Burnside Avenue. The subject property is located just 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 eateries, 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 & 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. New ownership can potentially add an Additional Dwelling Unit (ADU) to maximize income and appreciation potential.

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.

Investment Highlights

  • The West Adams Neighborhood is a Rapidly Growing Infill Urban Location Proximate to Culver City That has a Host of New Restaurants, Coffee Shops, Galleries and Bars
  • Current Ownership Has Recently Renovated 71% of Units with New Kitchens, New Bathrooms, Flooring, Appliances and More.
  • Located Less than 1 Mile from Cumulus, a 30 Story Tower with 100,000 Square Feet of Retail, 1,210 Units, and a 1 Acre Park which is Anchored by Whole Foods
  • Developers like CIM Group, 4D Development, Carmel Partners and Redcar Properties All Have Completed Projects or Have Sites Under Way in this Neighborhood
  • Record-High Lease Rates and Pricing in Culver City Means Many Companies Can no Longer Find Affordable Space for Lease — Making West Adams the Next Best Option
  • There is 29 Percent Remaining Rental Upside Through Interior Renovations and Proven Rental Rates – Not Including Potential ADU Income
  • New Ownership has Potential to Add Accessory Dwelling Units (ADU's) to the Property Allowing for Added Future Growth and Appreciation Potential – Buyer to Verify

Exclusively Listed By

Financing By

Multifamily

2915 S Burnside Avenue

Listing Price: $1,995,000

Cap Rate
5.61%
Number of Units
7
GRM
11.63
Price/Unit
$285,000
Price/Gross SF
$485.64
Gross SF
4,108

Investment Highlights

  • The West Adams Neighborhood is a Rapidly Growing Infill Urban Location Proximate to Culver City That has a Host of New Restaurants, Coffee Shops, Galleries and Bars
  • Current Ownership Has Recently Renovated 71% of Units with New Kitchens, New Bathrooms, Flooring, Appliances and More.
  • Located Less than 1 Mile from Cumulus, a 30 Story Tower with 100,000 Square Feet of Retail, 1,210 Units, and a 1 Acre Park which is Anchored by Whole Foods
  • Developers like CIM Group, 4D Development, Carmel Partners and Redcar Properties All Have Completed Projects or Have Sites Under Way in this Neighborhood
  • Record-High Lease Rates and Pricing in Culver City Means Many Companies Can no Longer Find Affordable Space for Lease — Making West Adams the Next Best Option
  • There is 29 Percent Remaining Rental Upside Through Interior Renovations and Proven Rental Rates – Not Including Potential ADU Income
  • New Ownership has Potential to Add Accessory Dwelling Units (ADU's) to the Property Allowing for Added Future Growth and Appreciation Potential – Buyer to Verify

Investment Overview

Marcus & Millichap, as the exclusive listing agent, is pleased to offer for sale a seven-unit apartment building located at 2915 South Burnside Avenue. The subject property is located just 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 eateries, 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 & 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. New ownership can potentially add an Additional Dwelling Unit (ADU) to maximize income and appreciation potential. 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.

Exclusively Listed By

Financing By

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