694 S Burlington Avenue, Los Angeles, California 90057, Los Angeles, 90057 - bed, bath
ACTIVE$3,975,000
694 S Burlington Avenue, Los Angeles, California 90057
0Bed
0Bath
30,319Sqft
22,530Lot
Year Built
1913
Close
-
List price
$3.98M
Original List price
$4.13M
Price/Sqft
$131
HOA
-
Days on market
-
Sold On
-
MLS number
SB25223742
Home ConditionPoor
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 $124k/unit and $131/sqft. The property is currently operating at a 7.22% CAP and 7.67GRM. There is still over 51%+ upside available once the property is stabilized. The property is individually metered for gas and electric. The building is comprised of (26) apartment units and (6) Retail Spaces - consistent of (13) 1-Bed+1-Bath, (13) Studio+1Bath. Currently (2) studio/1-bath units are being delivered 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
11/06/25
Price Change
$3,975,000-3.6%
09/23/25
Listing
$4,125,000
01/11/00
Sold
$400,000
Condition Rating
Poor
Built in 1913, this property is over a century old. The interior images reveal severely dated and worn conditions, including old parquet flooring, outdated ceiling fans, visible surface-mounted electrical conduits, and window-mounted air conditioning units. There is no evidence of recent renovations; in fact, the listing explicitly states that significant stabilization efforts and capital expenditures are required to unlock its potential, indicating substantial deferred maintenance and outdated systems. While the property is currently occupied, its overall condition suggests it is far from modern standards and requires extensive rehabilitation, particularly in key areas like kitchens and bathrooms (which are not pictured but can be inferred from the general state of the visible units).
Pros & Cons
Pros
Diversified Income Stream: The property is a 32-unit mixed-use building comprising 26 apartment units and 6 retail spaces, offering a diversified revenue base and reduced risk.
Significant Upside Potential: Currently operating at a 7.22% CAP rate and 7.67 GRM, the property boasts over 51%+ upside potential once stabilized, indicating strong investment growth.
Strategic Location: Located minutes from Downtown Los Angeles with easy access to the 10 and 110 freeways, and surrounded by shops, restaurants, and amenities, enhancing tenant demand.
Attractive Price Metrics: Offered at $124k per unit and $131 per square foot, presenting a competitive entry point for a mixed-use asset of this scale in the Los Angeles market.
Immediate Rental Income Growth: With two studio/1-bath units currently vacant, there's an immediate opportunity to increase rental income by leasing them at market rates.
Cons
Historic Building Age: Built in 1913, the property is over a century old, which may imply significant deferred maintenance, outdated systems, and potential for substantial capital expenditures.
Requires Stabilization Efforts: Achieving the stated 51%+ upside potential necessitates active management, potential renovations, and strategic lease-up, requiring additional time, capital, and operational effort from the buyer.
Neighborhood Specific Challenges: While centrally located, the Pico Union neighborhood may present specific challenges related to tenant management, property security, or market perception that could impact operations.