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234 N Burlington Avenue, Los Angeles, California 90026, Los Angeles, 90026 - bed, bath

234 N Burlington Avenue, Los Angeles, California 90026 home-pic-0
ACTIVE$2,575,000
234 N Burlington Avenue, Los Angeles, California 90026
0Bed
0Bath
4,798Sqft
6,000Lot
Year Built
2023
Close
-
List price
$2.58M
Original List price
$2.58M
Price/Sqft
$537
HOA
-
Days on market
-
Sold On
-
MLS number
BB25199178
Home ConditionExcellent
Features
Good View: Neighborhood
Deck
Patio
ViewNeighborhood

About this home

We found 3 Cons,5 Pros. Rank: price - $2.58M(91th), sqft - 4798(91th), beds - undefined(50th), baths - undefined(50th).

234 N Burlington St is a rare FULLY STABILIZED 2023 fourplex delivering a strong 5.99% cap rate, just steps from Echo Park Lake—perfect for 1031 exchange buyers seeking turnkey income in one of LA’s hottest rental markets. This new construction fourplex leased immediately to A+ tenants thanks to its ultra-trendy location near Echo Park & Silver Lake, with Bloom & Plume Coffee, Tribal Café, Target, and countless dining and lifestyle options just blocks away. With SB-8 limiting new inventory, stabilized assets like this are increasingly hard to secure. The property features two 4-bed/4.5-bath units and two 3-bed/3.5-bath units with spacious open floorplans, plus 8 total parking spaces (4 garage + 4 surface) accessed via a rear alley. Fully leased, it delivers a strong 5.99% cap rate and offers 1031 investors both immediate income and long-term appreciation. Buyers will also enjoy a 1-year builder’s warranty, brand-new systems with little to no maintenance, separate utility meters, and highly desirable finishes including in-unit washer/dryers, premium kitchens, and modern layouts designed to command top rents.

Nearby schools

5/10
Union Avenue Elementary School
Public,•K-5•0.2mi
/10
Lake Street Primary School
Public,•K-1•0.3mi
5/10
Rosemont Avenue Elementary School
Public,•K-5•0.4mi
4/10
Betty Plasencia Elementary School
Public,•K-6•0.5mi
3/10
Gratts Learning Academy For Young Scholars (Glays)
Public,•K-6•0.6mi
/10
Lafayette Park Primary Center
Public,•K•0.9mi
5/10
Commonwealth Avenue Elementary School
Public,•K-5•1.3mi
3/10
Sal Castro Middle School
Public,•6-8•0.4mi
5/10
Virgil Middle School
Public,•6-8•1.6mi
3/10
Belmont Senior High School
Public,•9-12•0.4mi

Price History

Date
Event
Price
09/04/25
Listing
$2,575,000
07/05/19
Sold
$800,000
Condition Rating
Excellent
This property is a new construction fourplex built in 2023. The description explicitly states 'brand-new systems' and 'highly desirable finishes.' Images confirm modern, high-gloss white cabinetry, new stainless steel appliances, contemporary backsplash, and modern fixtures in the kitchen. Flooring is new wood-look throughout, and lighting is recessed. All components are new, meeting current quality standards with no deferred maintenance, perfectly aligning with the 'Excellent' condition criteria.
Pros & Cons

Pros

New Construction & Turnkey: Built in 2023, this fourplex is fully stabilized, leased immediately to A+ tenants, and comes with a 1-year builder's warranty, ensuring minimal immediate maintenance and a hassle-free investment.
Prime Location & Desirability: Situated in an 'ultra-trendy location' near Echo Park Lake and Silver Lake, with numerous dining and lifestyle options within blocks, guaranteeing high tenant demand and strong long-term appreciation potential.
Strong Financial Performance: Delivers a robust 5.99% cap rate with immediate income from fully leased units, making it an attractive option for 1031 exchange buyers seeking stable cash flow.
Ample Parking: Features 8 total parking spaces (4 garage + 4 surface) accessed via a rear alley, a significant advantage in a dense urban area like Los Angeles, enhancing tenant appeal.
Modern Amenities & Unit Features: Units boast spacious open floorplans, highly desirable finishes, in-unit washer/dryers, premium kitchens, and separate utility meters, designed to command top rents and reduce landlord operating costs.

Cons

High Entry Price Point: The $2.575 million list price represents a substantial investment, potentially limiting the buyer pool to high-net-worth individuals or institutional investors.
Limited Value-Add Opportunity: As a new construction, fully stabilized, and leased property, there's less immediate opportunity for a buyer to force appreciation through significant renovations or lease-up strategies.
Market Dependence: While currently strong, the property's income and appreciation are highly dependent on the continued strength of the Echo Park/Silver Lake rental market and broader economic conditions.

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