Multifamily
4315 Burns Avenue
4315 Burns Avenue, Los Angeles, CA 90029
Listing Price: $2,850,000
Investment Overview
Marcus & Millichap is pleased to offer for sale 4315 Burns Avenue, a 14-unit apartment community located in the Virgil Village neighborhood of Los Angeles, just west of Virgil Avenue.
Built in 1964, the property comprises 9,450 square feet of improvements in a single two-story building on a 9,599-square-foot parcel, with parking and laundry on site. The unit mix consists of nine one-bedroom units, two two-bedroom units, two single units and one bachelor unit. The government-required seismic retrofit has been completed. The property delivers strong in-place yield at a 6.78% scheduled cap rate and a 9.67 gross rent multiplier, with approximately 12% rental upside remaining, capturable through ordinary turnover.
With a Walk Score of 91, daily errands do not require a car. Courage Bagels and Sqirl sit within a quarter mile south on Virgil Avenue, and The Virgil, a live music and comedy venue, about a quarter mile north on Santa Monica Boulevard. Sunset Junction lies just over half a mile northeast, and Silver Lake, Los Feliz and East Hollywood all border the neighborhood. The Metro B Line’s Vermont/Santa Monica station sits about a third of a mile northwest, and the 101 Freeway meets Vermont Avenue about half a mile northwest. The employment base is anchored by education and healthcare, with Los Angeles City College just over a quarter mile west, Children’s Hospital Los Angeles about three-quarters of a mile northwest and Kaiser Permanente Los Angeles Medical Center less than a mile northwest.
4315 Burns Avenue offers investors an opportunity to acquire a stabilized asset in Virgil Village, one of the most centrally positioned residential neighborhoods in the city and one that continues to gentrify.
PLEASE DO NOT WALK THE PROPERTY OR DISRUPT TENANTS. CONTACT THE LISTING TEAM FOR DETAILS.
4315 Burns Avenue
Investment Highlights
- The government-required seismic retrofit work has already been completed, saving a new investor substantial capital and time.
- Approximately 12% rental upside remains, capturable through ordinary turnover.
- Operating at a 6.78% scheduled cap rate and a 9.67 gross rent multiplier.
- A Walk Score of 91. Courage Bagels and Sqirl sit a quarter mile south, The Virgil a quarter mile north, Sunset Junction half a mile northeast.
- The Metro B Line's Vermont/Santa Monica station sits a third of a mile northwest, with the 101 Freeway at Vermont Avenue about half a mile away.
- LA City College sits a quarter mile west, with Children's Hospital LA and Kaiser Permanente's LA Medical Center both under a mile northwest.
Exclusively Listed By
Financing By
Listing Price: $2,850,000
Investment Highlights
- The government-required seismic retrofit work has already been completed, saving a new investor substantial capital and time.
- Approximately 12% rental upside remains, capturable through ordinary turnover.
- Operating at a 6.78% scheduled cap rate and a 9.67 gross rent multiplier.
- A Walk Score of 91. Courage Bagels and Sqirl sit a quarter mile south, The Virgil a quarter mile north, Sunset Junction half a mile northeast.
- The Metro B Line's Vermont/Santa Monica station sits a third of a mile northwest, with the 101 Freeway at Vermont Avenue about half a mile away.
- LA City College sits a quarter mile west, with Children's Hospital LA and Kaiser Permanente's LA Medical Center both under a mile northwest.
Investment Overview
Marcus & Millichap is pleased to offer for sale 4315 Burns Avenue, a 14-unit apartment community located in the Virgil Village neighborhood of Los Angeles, just west of Virgil Avenue. Built in 1964, the property comprises 9,450 square feet of improvements in a single two-story building on a 9,599-square-foot parcel, with parking and laundry on site. The unit mix consists of nine one-bedroom units, two two-bedroom units, two single units and one bachelor unit. The government-required seismic retrofit has been completed. The property delivers strong in-place yield at a 6.78% scheduled cap rate and a 9.67 gross rent multiplier, with approximately 12% rental upside remaining, capturable through ordinary turnover. With a Walk Score of 91, daily errands do not require a car. Courage Bagels and Sqirl sit within a quarter mile south on Virgil Avenue, and The Virgil, a live music and comedy venue, about a quarter mile north on Santa Monica Boulevard. Sunset Junction lies just over half a mile northeast, and Silver Lake, Los Feliz and East Hollywood all border the neighborhood. The Metro B Line’s Vermont/Santa Monica station sits about a third of a mile northwest, and the 101 Freeway meets Vermont Avenue about half a mile northwest. The employment base is anchored by education and healthcare, with Los Angeles City College just over a quarter mile west, Children’s Hospital Los Angeles about three-quarters of a mile northwest and Kaiser Permanente Los Angeles Medical Center less than a mile northwest. 4315 Burns Avenue offers investors an opportunity to acquire a stabilized asset in Virgil Village, one of the most centrally positioned residential neighborhoods in the city and one that continues to gentrify. PLEASE DO NOT WALK THE PROPERTY OR DISRUPT TENANTS. CONTACT THE LISTING TEAM FOR DETAILS.
Exclusively Listed By
Financing By
To view property details and documents, sign up for a free MyMMI account.
Explore exclusive listings, access research insights, and set up automated alerts for a personalized experience. Sign up now to elevate your property search.
