The Kenny Stevens Team is proud to announce the closed sale of 637 S Burnside Avenue, a rare Los Angeles multifamily offering located in the heart of the prestigious Miracle Mile neighborhood. This six-unit property sat on a 7,785-square-foot LAR4-zoned lot, offering not just strong existing income, but also attractive future development potential in one of the city's most desirable and culturally vibrant districts.

Located just north of Wilshire Boulevard and within walking distance of The Grove, LACMA, and the future Metro Purple Line station, 637 S Burnside blends old-world architectural charm with value-add opportunity. The unit mix includes four oversized 2-bedroom/1-bath units and two large 1-bedroom/1-bath units, all of which are significantly under market rent, with an estimated 25% upside in rental income.

This well-maintained Miracle Mile multifamily property features six garaged parking spaces in the rear and is separately metered for gas and electricity. Each unit has its own hot water heater, reducing ownership expenses and simplifying management. Many units have been tastefully updated with renovated kitchens and bathrooms, stainless steel appliances, and modern finishes, while preserving original hardwood flooring and historic character.

Zoned LAR4, the property offers the ability to develop up to 12 units by right, giving future owners a strategic foothold in a high-demand neighborhood known for its mix of walkability, historic architecture, and ongoing redevelopment.

With its blend of stable cash flow, long-term appreciation, and undeniable location value, 637 S Burnside is a textbook example of the kind of Los Angeles multifamily investment that continues to drive interest from developers, investors, and owner-users alike.