Description
Rare opportunity to acquire a well-maintained, fully occupied single-story four-unit investment property in the heart of Burbank. Ideally located on a quiet, low-traffic dead-end street just minutes from Interstate 5, Alameda Avenue, major studios, shopping, dining, and employment centers, this pride-of-ownership property offers stable current income and long-term upside. The property features two 2-bedroom, 1-bath units and two 1-bedroom, 1-bath units, all occupied by long-term month-to-month tenants. Under the same ownership for over 22 years, the property has experienced very little vacancy, reflecting its desirable location and strong rental demand. Numerous improvements include updated unit interiors, an updated sewer line, private full-size laundry sheds for the two-bedroom units, interior stackable laundry in the one-bedroom units, and a charming shared courtyard patio for tenant enjoyment. Each unit is individually metered for gas and electricity. Four detached single-car garages and a large storage shed are rented separately, providing additional income beyond the apartment rents. A spacious rear parking area offers ample off-street parking for tenants and guests. Current gross scheduled income is approximately $9,850 per month ($118,200 annually) with a projected buyer pro forma cap rate of approximately 5.7% (buyer to verify). Situated on a generous 7,748 SF lot with potential future expansion or redevelopment opportunities (buyer to verify with the City of Burbank), this is an exceptional opportunity to acquire a quality investment property in one of Burbank's most sought-after rental neighborhoods.
Details
| MLS # | SR26147163 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active Under Contract |
| Year | 1949 |
| Days On Site | 68 |
| Listing Provided By | RE/MAX Gateway | Brian Palmer |
Features
| SQ Feet | 2,492 |
|---|---|
| Garage | 4 |
| Story(s) | 1 |
| Units | 4 |
| Building(s) | 2 |
| Acreage | 0.18 |
| Property View | None |
Interior
| Cooling | Wall Window Units |
|---|---|
| Heating | Wall Furnace |
| Heating Yes / No | Yes |
| Cooling Yes / No | Yes |
| Interior Features | All Bedrooms Down, Bedroom On Main Level |
| Window Features | Double Pane Windows |
| Appliances | Dishwasher, Gas Range, Microwave |
| Fireplace Yes / No | No |
Exterior
| Roof | Composition |
|---|---|
| Lot Features | Cul De Sac |
| Fencing | Wrought Iron |
Parking
| Parking Features | Driveway Level, Door Single, Garage, On Site, Rv Potential |
|---|---|
| Garage Yes / No | Yes |
Utilities
| Utilities | Electricity Connected, Water Connected |
|---|---|
| Sewer | Public Sewer |
Location
| Community Features | Sidewalks |
|---|
Area Information
| State | CA |
|---|---|
| County | Los Angeles |
| City | Burbank |
| Zip Code | 91502 |
| Area | 610 Burbank |
| Listing VS Median (in 91502) | |
Price: $1,499,000 low | high Med: $599,000 sqft: 2,492 low | high Med: 1,402 $ / sqft: $602 low | high Med: $427 On site: 68 low | high Med: 121 | |
Market Activity 91502
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Learn More About This Property
| State | CA |
|---|---|
| County | Los Angeles |
| City | Burbank |
| Zip Code | 91502 |
| Area | 610 Burbank |
| Listing VS Median (in 91502) | |
Price: $1,499,000 low | high Med: $599,000 sqft: 2,492 low | high Med: 1,402 $ / sqft: $602 low | high Med: $427 On site: 68 low | high Med: 121 | |
