Description

Value-Add Triplex Opportunity on 6,082 SF Lot in Historic Filipinotown with alley access. Opportunity to acquire a value-add residential income property in the heart of Historic Filipinotown. Located at 324 N. Burlington Ave, this property consists of a single-family residence that has been converted into three units and is currently reflected as a duplex in public records (buyer to verify).The unit mix includes two (2) 1-bedroom, 1-bath bottom floor units and one (1) 2-bedroom, 1-bath unit on the entire top floor. The upstairs two bedroom unit and one of the lower units will be delivered vacant at the close of escrow offering immediate flexibility for an owner-user or investor to renovate, occupy, or lease at market rents. (Only the unoccupied units shown in the photos) The property is situated on a 6,082 square foot lot with alley access, with the existing structure positioned on the front portion of the lot, leaving a substantial rear yard area that may offer additional potential for future use or expansion (buyer to investigate).Zoned LARD1.5, The existing improvements require renovation and are being sold in their current "as-is" condition. Centrally located near Silver Lake, Echo Park, Downtown Los Angeles, the Arts District, and Dodger Stadium, the property is well-positioned within one of Los Angeles' most dynamic and evolving rental markets.Ideal opportunity for an investor, owner-user, or developer seeking a project with long-term upside in a prime central Los Angeles location. All information provided is deemed reliable but not guaranteed. Property is sold strictly in its present "as-is" condition with no warranties or guarantees. Buyer is advised to independently verify all aspects of the property, including but not limited to unit count, square footage, permits, zoning, development potential, and allowable uses to their satisfaction.