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2005 Grismer Avenue

Burbank, CA 91504
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Bed 28

Bed

Bath 28

Bath

SqFt11,334

Sqft

SqFt11,442

Sqft(Lot)

We are pleased to present the investment opportunity at 2001-2005 Grismer Avenue in Burbank, California. This 14-unit apartment community is situated in the established North Burbank residential corridor, one of the most consistently performing multifamily submarkets in the San Fernando Valley. The offering represents an opportunity to acquire a uniformly configured, below-market asset in a city that operates independently from the City of Los Angeles, with a meaningfully different regulatory environment and a strong long-term rental demand profile driven by proximity to the Burbank Media District, the studios, and the broader employment base that anchors the area. The subject property is a two-story, 14-unit apartment building constructed in 1987 and situated on an 11,325 SF lot. The buil ding totals 11,334 square feet of rentable area and is zoned BUR4. The unit mix is entirely composed of two-bedroom/two-bathroom units, providing operational consistency and a single-profile leasing strategy across the entire asset. Residents benefit from on-site laundry service provided through a contract with All V alley Washer Service, generating approximately $2,948 annually in supplemental income. The building's uniform layout and standard two-bedroom configuration appeal to the core renter demographic in this corridor: working professionals, dual-income households, and long-term tenants drawn to Burbank's livability, school quality, and commuter access. The asset is individually addressed as both 2001 and 2005 Grismer Avenue and sits on a quiet residential street within walking distance of retail and services along N Glenoaks Blvd. 2001-2005 Grismer Avenue is positioned within the 91504-zip code, one of Burbank's most active multifamily leasing zones. Burbank is an independent city with its own municipal services and zoning authority, sitting just outside the City of Los Angeles and governed by California AB 1482 rather than the LA city RSO. The current in-place rent average of $2,203 per unit sits approximately $556 below the market rate for comparable two bedroom product in the immediate area, with all 14 units presenting measurable upside. At full market occupancy, annual gross scheduled rent reaches $462,000, representing $93,473 in additional gross income over the current roll. Burbank's location within easy commuting distance of the entertainment industry, healthcare, and professional service employment centers throughout Los Angeles County supports durable renter demand and limited lease-up risk for an incoming owner.

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Detail Ic Property Details

Property Type : ResidentialIncome

Price : $5,350,000

AD Id : 86505856

MLS Id : 26852909

Beds : 28

Lot Size : 11,442 Sqft

Living Area Size : 11,334

Year Built : 1987

County : Los Angeles

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Feature Features

  • Bedroom Information

    Total beds: 28

    Bathroom Information

    Total Baths: 28
  • Interior Features

    CeilingFans
    Appliances: Dishwasher, Microwave
  • Heating & Cooling

    Has Heating: Yes Heating: Central Has Cooling: Yes Cooling: CentralAir

  • Building Information

    Year Built: 1987
    Building Area Total: 11334
    Stories: 2
    Private Pool: No

  • Lot Information

    Main Square Feet: 11442 Lot Size Acres: 0.2627 Lot Size Source: Assessor Lot Size Square Feet: 11,442

  • Listing Price Information

    Listing Price: $5350000
    Original Price: $5500000

  • Tax Information

    Parcel Number: 2468015084

  • Location Information

    Direction: At the intersection of Grismer Ave and Peyton Ave.
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Nearby Home Value

Address Estimate Bed Bath Sq. Ft Lot Size
1818 Hilton Drive, Burbank, CA, 91504 $1,519,000 3 2 1,909 1,909 SqFt
521 Bethany Road, Burbank, CA, 91504 $1,399,993 3 2 1,511 1,511 SqFt
821 Groton Drive, Burbank, CA, 91504 $1,375,000 3 2 1,635 1,635 SqFt
1113 N Glenoaks, Burbank, CA, 91504 $2,500,000 8 6 --
424 Tufts, Burbank, CA, 91504 $1,399,000 2 2 1,610 1,610 SqFt
400 University Avenue, Burbank, CA, 91504 $1,275,000 3 2 1,489 1,489 SqFt
742 Irving, Burbank, CA, 91504 $1,395,000 4 2 1,895 1,895 SqFt
505 Cambridge Drive, Burbank, CA, 91504 $1,785,000 3 2 2,524 2,524 SqFt
2405 Jolley, Burbank, CA, 91504 $1,499,000 3 2 1,577 1,577 SqFt
3119 Mesa Verde, Burbank, CA, 91504 $2,594,900 4 3 2,506 2,506 SqFt

The information being provided by Miami Association of REALTORS® is for the consumer's personal, non-commercial use. Any information relating to real estate for sale referenced on this web site comes from the Internet Data Exchange (IDX) program of the Miami Association of REALTORS®. The accuracy of all information is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by Miami Association of REALTORS® and is protected by all applicable copyright laws. Any unauthorized dissemination of this information is in violation of copyright laws and is strictly prohibited. Copyright 2026 Miami Association of REALTORS®. All rights reserved.

ByOwner last updated this listing 08/16/2026 @ 13:38

MLS: 26852909 LISTED BY: Filip Niculete, Marcus & Millichap 818-212-2700 SOURCE: CRMLS

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