Echo Park Adj. Leased Fourplex 236 N Burlington Ave
4 Unit Apartment Building $2,795,000 ($698,750/Unit) 5.29% Cap Rate Los Angeles, CA 90026
INVESTMENT HIGHLIGHTS
- Outstanding STABILIZED cap rate of 5.29%! Cash cow.
- MASSIVE units with premium floorplans.
- Boasts ultra-high-end finishes and top-tier construction. This is not your typical new construction multi-unit!
- Delivered 100% leased!
- Multi-dimensional, architecturally impressive exterior.
- Ideal unit mix of two 4 bedroom and two 3-bedroom units!
EXECUTIVE SUMMARY
The 2-4 Unit Specialists are pleased to present 236 N Burlington St, a rare FULLY STABILIZED 2023 fourplex walking distance to the Echo Park Lake! This stabilized fourplex attracted A+ tenants quickly thanks to its ultra trendy location near Echo Park & Silver Lake. Moments on foot to Bloom & Plume Coffee, Tribal Cafe, Target on Temple, and so much more! With SB-8 in effect, new construction property inventory is at an all-time low- making it more important than ever to tie up these valuable properties as early as possible!
236 N Burlington is made up of two 4-bedroom, 4.5- bathroom units & two 3-bedroom, 3.5-bathroom units, all with incredibly spacious, open floorplans. The property boasts 8 parking spots (4 garage spaces and 4 exterior spaces) all accessed from a convenient back alley! This incredible project has an excellent stabilized cap rate of 5.29%!
In addition to the high return, buyers will enjoy other notable perks including: a 1-year builder’s warranty, brand new EVERYTHING, little to no maintenance, separate meters for gas, water & electric, and extreme desirability amongst renters. The units feature: washer and dryer in each unit, extremely spacious, open floor plans, and high quality finishes.
236 N Burlington is made up of two 4-bedroom, 4.5- bathroom units & two 3-bedroom, 3.5-bathroom units, all with incredibly spacious, open floorplans. The property boasts 8 parking spots (4 garage spaces and 4 exterior spaces) all accessed from a convenient back alley! This incredible project has an excellent stabilized cap rate of 5.29%!
In addition to the high return, buyers will enjoy other notable perks including: a 1-year builder’s warranty, brand new EVERYTHING, little to no maintenance, separate meters for gas, water & electric, and extreme desirability amongst renters. The units feature: washer and dryer in each unit, extremely spacious, open floor plans, and high quality finishes.
FINANCIAL SUMMARY (PRO FORMA - 2025) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$196,020
|
$40.85
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$7,841
|
$1.63
|
| Effective Gross Income |
$188,179
|
$39.22
|
| Taxes |
$33,523
|
$6.99
|
| Operating Expenses |
$6,679
|
$1.39
|
| Total Expenses |
$40,202
|
$8.38
|
| Net Operating Income |
$147,977
|
$30.84
|
PROPERTY FACTS
| Price | $2,795,000 |
| Price Per Unit | $698,750 |
| Sale Type | Investment |
| Cap Rate | 5.29% |
| Gross Rent Multiplier | 14.26 |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Size | 4,798 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 2023 |
| Parking Ratio | 1.67/1,000 SF |
UNIT AMENITIES
- Balcony
- Dishwasher
- Microwave
- Refrigerator
- Range
- Tub/Shower
- Double Pane Windows
- Handrails
- Instant Hot Water
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 4+3.5 | 2 | $4,173 | 1,310 |
| 3+3 | 2 | $3,995 | 1,089 |
1 of 1
Walk Score®
Very Walkable (89)
ZONING
| Zoning Code | LARD1.5 |
