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Cindy Hill
Equity Union
818-989-2000
We are proud to represent this completely renovated 15 unit apartment building in an excellent rental pocket of Burbank. The property has an excellent unit mix consisting of (12) one bedroom one bath units, (2) two bedroom one bath unit, and (1) two bedroom two bath unit. The property is situated on a 17,821 square foot lot with 100 feet of frontage on two separate assessor parcel numbers. There is an additional 153 square foot storage room that can be used as an office. The property has been completed renovated and the renovations include new plumbing, new roof, new electrical wiring and sub panels, new heating and a/c system with new ducting, new kitchen cabinets and countertops, new bathrooms, recessed lighting, and new interior and exterior paint. All units have washer and dryers. The property is completely turn key and it is at an in place 5 cap rate with upside on existing rents. The property is located in Burbank, which is a highly desirable rental market and is known as the media capital of the world. It is home to Disney Studios, Warner Brothers, and NBC. The city has over 80 restaurants, 30 movie screens, and 200 stores; its residents enjoy top ranked schools, easy access to the 5 and 134 freeways, and close proximity to the Burbank Metro Link. The property is separately metered for gas and electricity.
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Water Source : Public
Sewer : Public Sewer
Property Appliances: Dryer,Washer
Year Built: 1951
Building Area Total: 9,841
None
Lot Dimensions Source: Vendor Enhanced
Lot Size Acres: 0.4091
Lot Size Source: Assessor
Lot Size Square Feet: 17821
Original List Price: 6,700,000
Listing Contract Date: 2024-04-11
Listing Agreement: Exclusive Right To Sell
Parcel Number: 2453031008
Lease Term: Negotiable
Source Listing Status: Active
Source Neighborhood: 610 - Burbank
Postal Code Plus 4: 1432
Directions: Just southeast of Glenoaks, north of Alameda
Zoning: BUR4*
Source Property Type: Residential Income
Area: 610 - Burbank
Property SubType: Apartment
Property Age: 73
Common Walls: 1 Common Wall
Structure Type: Apartment
Year Built Source: Assessor
Entry Level: 1
Entry Location: 1
Property Attached: Yes
Levels or Stories: Two
Building Total Stories: 2
Address | Estimate | Bed | Bath | Sq. Ft | Lot Size |
---|---|---|---|---|---|
231 W Cedar Avenue, Burbank, CA,91502 | $899,000 | 2 | 2 | 1,007 | 4789 Sqft |
271 W Ash Avenue, Burbank, CA,91502 | $2,000,000 | 6 | -- | 2,824 | 6946 Sqft |
231 E Burbank Boulevard, Burbank, CA,91502 | $5,150,000 | -- | -- | 10,596 | 8315 Sqft |
201 E Angeleno Avenue #.., Burbank, CA,91502 | $725,000 | 1 | 2 | 1,450 | 45870 Sqft |
521 S Lake Street #C, Burbank, CA,91502 | $1,600,000 | 3 | -- | 1,725 | 6572 Sqft |
252 W Tujunga Avenue, Burbank, CA,91502 | $1,600,000 | 6 | 4 | 1,912 | 7752 Sqft |
235 W Tujunga Avenue, Burbank, CA,91502 | $3,000,000 | -- | -- | -- | 9405 Sqft |
1015 E Spazier Avenue #.., Burbank, CA,91502 | $639,000 | 2 | 2 | 920 | 8392 Sqft |
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ByOwner last updated this listing 05/20/2024 @ 15:52
MLS: SR24072463
LISTED BY: Cindy Hill, Equity Union
SOURCE: CRMLS
Buyer Agency Compensation: 2%
Buyer Agency Description: The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed and if applicable, to participants of reciprocating MLS's as set forth in Association/MLS reciprocal agreements.