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198 W Elmwood

Burbank, CA 91502

$2,395,000 $10,097/Mo

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Overview

Bed

Bath

4,804

Sqft

7,513

Sqft(Lot)

Description

Prime Burbank 6-Unit Multifamily | Strong Rental Upside | 5.7% Pro Forma Cap Located in the highly desirable City of Burbank — subject to AB 1482 with higher allowable annual rental increases than the City of Los Angeles — this pride-of-ownership six-unit multifamily property presents an exceptional value-add investment opportunity with approximately 18%+ rental upside. The property consists of six spacious 2-bedroom, 1-bath units, each featuring bright living rooms, well-sized kitchens with dining areas, generous bedrooms, and ample closet space. The building has been well maintained and includes a newer roof, partial copper plumbing, six covered parking spaces, and an on-site laundry room with owned machines. The property is separately metered for gas and electricity. Ideally situated less than one mile from Downtown Burbank, tenants enjoy convenient access to shopping, dining, cafés, entertainment, and the Burbank Town Center. The property is also in close proximity to major employment hubs including Walt Disney Studios, Warner Bros., and the city’s thriving media and technology sector, as well as award-winning Burbank schools. Commuters benefit from excellent freeway access to the 5, 134, and 2, providing direct connectivity to Glendale, Pasadena, Eagle Rock, Downtown Los Angeles, and the San Fernando Valley. This offering represents a rare opportunity to acquire a stable, well-located multifamily asset in one of Los Angeles County’s most resilient and supply-constrained rental markets. Financial Highlights (Based on New Tax Basis): • 4.9% Cap Rate | 14.79 GRM at Current Rents • 5.7% Pro Forma Cap Rate | 13.0 Pro Forma GRM

Property Details

Property Type : ResidentialIncome

Price : $2,395,000

AD Id : 74260388

MLS Id : GD26010495

Lot Size : 7,513 Sqft

Living Area Size : 4,804

Year Built : 1953

Garage : 6

County : Los Angeles

Map

What's Nearby

Nearby Areas

Features

Interior Features

Ceiling Fan(s), Walk-In Closet(s)

Roof: Composition

Appliances: Dishwasher, Free-Standing Range, Gas Range, Gas Water Heater, Refrigerator, Range Hood

Laundry Features: Common Area
Heating & Cooling

Has Heating: Yes Heating: Wall Furnace Has Cooling: Yes Cooling: Wall/Window Unit(s)

Building Information

Year Built: 1953

Building Area Total: 4804

Construction Materials: Unknown

Stories: 2

Pool Features: None

Private Pool: No

View: Neighborhood, Trees/Woods

Lot Information

Main Square Feet: 7513 Lot Size Acres: 0.1725 Lot Size Source: Assessor Lot Size Square Feet: 7,513 Lot Description: Front Yard,Sprinkler System

Listing Price Information

Listing Price: $2395000

Original Price: $2485000

Cash, Cash to New Loan

Tax Information

Parcel Number: 2451001035 Tax Lot: 18

Virtual Tour

Virtual Tour (External Link)

Parking Information

Parking Total: 6 Carport

Garage Information

Has Garage: Yes Garage Space: 6

Utility Information

Electricity Connected, Sewer Connected, Water Connected
Location Information

Direction: between Olive and Alameda WaterSource: Public

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Nearby Home Value

Address	Estimate	Bed	Bath	Sq. Ft	Lot Size
335 -337 E Providencia .., Burbank, CA, 91502	$3,295,000	9	11	8,018	8,018 SqFt
231 W Cedar Avenue, Burbank, CA, 91502	$899,000	2	2	1,007	1,007 SqFt
271 W Ash Avenue, Burbank, CA, 91502	$1,999,999	6	--	2,824	2,824 SqFt

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ByOwner last updated this listing 07/26/2026 @ 13:39

MLS: GD26010495 LISTED BY: Silvia Ragheb, Trinity Real Estate & Investme 818-281-0478 SOURCE: CRMLS