$6,490,000 Price Analysis   ♡   Burbank, CA 91502 18 bed 16 bath 9,841 SqFt ($659/SqFt) 0.41 acre lot. Built 1951 Listed 2024-04-11, Taxes $5,137 | Ⓧ USDA Ineligible due to price & location near Burbank |
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 c onsisting 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 nd close proximity to the Burbank Metro Link. The property is separately metered for gas and electricity.
Presented by Cindy Hill at
Equity Union.
Property MLS #SR24072463 from CRMLS
Lot Size Acres: 0.4091
Lot Size Source: Assessor
Lot Size Square Feet: 17821
Bedrooms in Unit-1: 1
Bedrooms in Unit-2: 2
Bedrooms in Unit-3: 2
Total Bathrooms in Unit-1: 1
Total Bathrooms in Unit-2: 1
Total Bathrooms in Unit-3: 2
County: Los Angeles
Cap Rate: 5.45
Source Property Type: Residential Income
Insurance Expense: 4500.00
Area: 610 - Burbank
Source Neighborhood: 610 - Burbank
Number of Separate Electric Meters: 15
Number of Separate Gas Meters: 15
Number of Separate Water Meters: 15
Parcel Number: 2453031008
Postal Code Plus 4: 1432
Trash Expense: 2600.00
Zoning: BUR4
Source System Name: C2C
| Year | Assessments Building + Land Total | Tax |
|---|---|---|
| 2022 | $163 + $385,803 $385,966 | $5,137 |
| 2021 | $160 + $378,239 $378,399 | $5,092 |
| 2020 | $159 + $374,361 $374,520 | $5,041 |
| 2019 | $156 + $367,021 $367,177 | $4,915 |
| 2018 | $153 + $359,825 $359,978 | $4,706 |
| 2017 | $150 + $352,770 $352,920 | $4,496 |
| 2016 | $148 + $345,853 $346,001 | $4,323 |
| 2015 | $146 + $340,658 $340,804 | $4,245 |
| 2014 | $144 + $333,985 $334,129 | $4,282 |
| 2013 | $144 + $332,476 $332,620 | $4,241 |
| 2012 | $142 + $325,957 $326,099 | $4,162 |
| 2010 | $140 + $319,566 $319,706 | $3,944 |
| 2009 | $140 + $317,932 $318,072 | $3,882 |
| 2009 | $139 + $317,178 $317,317 | $3,882 |
| 2008 | $138 + $311,699 $311,837 | $3,808 |
| 2007 | $136 + $305,588 $305,724 | $3,668 |
$6,490,000
CRMLS
Listed 2024-04-11
$6,700,000
CRMLS
Listing removed 2023-11-08
$0
CRMLS
Listed 2023-07-07
$6,989,000
CRMLS
Sold 2022-08-18
$4,100,000
CRISNET
Listed 2022-07-01
$4,100,000
CRISNET
Sold 1988-03-21
$535,000
Public Record
Year Built: 1951
Building Features: 4
Common Walls: 1 Common Wall
Entry Level: 1
Entry Location: 1
Property Age: 73
Property Attached: Yes
Levels or Stories: Two
Building Total Stories: 2
Structure Type: Apartment
Year Built Source: Assessor
Sewer: Sewer: Public Sewer, Water Sewer Expense: 9000.00
Water Source: Public
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The property loan eligibility may be subject to additional requirements beyond geographical location including but not limited to the condition of the property. Speak with a real estate professional to find out more about the eligibility of a specific property.