4312 Burns Avenue

4312 Burns Avenue, Los Angeles, CA, USA

For Sale

$2,050,000

Property Description

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.

Contact Agent

Jason Tuvia

(818) 212-2735

Unit Mix

Ten (10) One Bedroom / One Bathroom Units

Property Type

Multifamily

Submarket

Price

Size

5,760 SF

Total Units

Year Built

1923

Property Location

4312 Burns Avenue, Los Angeles, CA, USA

Property Description

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.

Contact Agent

Jason Tuvia

(818) 212-2735

(818) 448-4415

CalBRE #01772495

Unit Mix

Ten (10) One Bedroom / One Bathroom Units

Property Details

Property Type

Multifamily

Submarket

Virgil Village (Silver Lake)

Price

$2,050,000

Price per Unit

$205,000

Price per SF

$355.90

Status

For Sale

Size

5,760 SF

Total Units

10

Year Built

1923

Property Location

4312 Burns Avenue, Los Angeles, CA, USA