REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
$ 1,595,000
Est. payment | /mo
6 Beds
4 Baths
7,758 Sqft Lot
$ 1,595,000
Est. payment | /mo
6 Beds
4 Baths
7,758 Sqft Lot
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID SR26147163
Bedrooms 6
Lot Size 7,758 Sqft
Property Sub-Type Res Income 2-4 Units
Property 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 m
Location
State CA
County Los Angeles
Zoning Assessor
Direction Alameda to Lake to Spazier
Interior
Cooling Wall/Window
Fireplace No
Exterior
View Y/N No
Roof Type Composition
Building
Story 1
Level or Stories 1
Others
Senior Community No
Tax ID 5625016017
Acceptable Financing Exchange
Listing Terms Exchange
Listed by Brian Palmer, DRE#01047928 RE/MAX Gateway
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "