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694 S Burlington Avenue, Los Angeles, California 90057, Los Angeles, 90057 - bed, bath

694 S Burlington Avenue, Los Angeles, California 90057 home-pic-0
ACTIVE$4,300,000
694 S Burlington Avenue, Los Angeles, California 90057
0Bed
0Bath
30,319Sqft
22,530Lot
Year Built
1913
Close
-
List price
$4.3M
Original List price
$4.3M
Price/Sqft
$142
HOA
-
Days on market
-
Sold On
-
MLS number
SB25137279
Home ConditionFair
Features
Good View:
View-

About this home

We found 3 Cons,5 Pros.

694 S Burlington Ave is a 32-unit mixed use building located in the Pico Union neighborhood. This massive 30,319 sqft building is offered at only $134k/unit and $141/sqft. The property is currently operating at a 6.68% CAP and 8.30 GRM. There is still over 51% upside available once the property is stabilized. The property is individually metered for gas and electricity. The building is comprised of (26) apartment units and (6) Retail Spaces - consistent of (13) 1Bed+1Bath, (13) Studio+1Bath. Currently (2) studio/1-bath units are vacant, offering immediate upside in rental income. 694 S Burlington Ave is conveniently located just minutes from Downtown Los Angeles, with easy access to the 10 and 110 freeways. There are many shops, restaurants and amenities nearby, making this an ideal location for renters.

Nearby schools

2/10
Esperanza Elementary School
Public,•K-5•0.0mi
3/10
Macarthur Park Elementary School For The Visual And Performing Arts
Public,•K-5•0.4mi
2/10
Tenth Street Elementary School
Public,•K-5•0.5mi
3/10
Charles White Elementary School
Public,•1-5•0.5mi
3/10
Gratts Learning Academy For Young Scholars (Glays)
Public,•K-6•0.7mi
8/10
Hoover Street Elementary School
Public,•K-5•0.7mi
5/10
Union Avenue Elementary School
Public,•K-5•0.7mi
3/10
Leo Politi Elementary School
Public,•K-5•0.8mi
/10
Lake Street Primary School
Public,•K-1•0.9mi
/10
Lafayette Park Primary Center
Public,•K•0.9mi
5/10
Rosemont Avenue Elementary School
Public,•K-5•1.2mi
4/10
Betty Plasencia Elementary School
Public,•K-6•1.2mi
3/10
Rfk Community Schools - Ambassador School - Global Education
Public,•K-5•1.4mi
5/10
Commonwealth Avenue Elementary School
Public,•K-5•1.6mi
7/10
Dr. Sammy Lee Medical And Health Science Magnet Elementary
Public,•K-5•1.6mi
6/10
Castelar Street Elementary School
Public,•K-5•2.0mi
3/10
John H. Liechty Middle School
Public,•6-8•0.2mi
3/10
Sal Castro Middle School
Public,•6-8•0.7mi
3/10
Berendo Middle School
Public,•6-8•1.2mi
5/10
Virgil Middle School
Public,•6-8•1.7mi
6/10
Thomas Starr King Middle School
Public,•6-8•2.9mi
3/10
Belmont Senior High School
Public,•9-12•0.7mi
3/10
Rfk Community Schools-Ambassador-Global Leadership
Public,•6-12•1.3mi
4/10
Rfk Community Schools-Los Angeles High School Of The Arts
Public,•9-12•1.3mi
5/10
Rfk Community Schools- For The Visual Arts And Humanities
Public,•9-12•1.3mi
8/10
John Marshall Senior High School
Public,•9-12•3.7mi

Price History

Date
Event
Price
06/18/25
$4,300,000
01/11/00
Sold
$400,000
Condition Rating
Fair
The property was built in 1913. The images show the building's exterior and some interior shots of the apartments and retail spaces. The apartments appear to be aged with some updates, but not fully renovated. The retail spaces also appear functional but not recently renovated. Given the age and the apparent condition, a 'fair' rating is appropriate.
Pros & Cons

Pros

High CAP Rate: The property is currently operating at a 6.68% CAP rate, indicating a strong potential return on investment.
High GRM: The property is currently operating at a 8.30 GRM, indicating a strong potential return on investment.
Upside Potential: There is over 51% upside available once the property is stabilized, offering significant opportunity for increased income.
Prime Location: Located in the Pico Union neighborhood, minutes from Downtown Los Angeles, with easy access to the 10 and 110 freeways.
Unit Mix: Comprised of (26) apartment units and (6) Retail Spaces - consistent of (13) 1Bed+1Bath, (13) Studio+1Bath.

Cons

Age of Building: Built in 1913, the building may require ongoing maintenance and potential upgrades due to its age.
Vacant Units: Currently (2) studio/1-bath units are vacant, requiring immediate attention to lease and generate income.
Pico Union Neighborhood: Pico Union neighborhood might need more marketing to attract high quality tenants.

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