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$5,500,000
Est. payment /mo
14 Beds
16 Baths
9,906 SqFt
UPDATED:
12/05/2024 04:35 AM
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 9,906 sqft
Price per Sqft $555
MLS Listing ID 24460053
Bedrooms 14
HOA Y/N No
Year Built 1961
Lot Size 10,110 Sqft
Property Description
The building is exempt from Los Angeles Rent Control and therefore an investor can benefit from higher allowable annual rent increases through AB 1482. Only two units have been given rent increases within the past year, potentially allowing a new owner to improve the property's cashflow almost immediately (Buyer to verify). Situated within a mile of both the Burbank Town Center and the Empire Center, this property grants tenants convenient access to numerous major national retailers and an extensive slate of entertainment and dining options. Stores such as Costco, Target, Walmart, Nordstrom Rack, Macy's, Cost Plus World Market, and Best Buy provide local residents a wide array of local shopping choices. Dubbed the "Media Capital of the World," the city of Burbank is home to a vast contingent of entertainment employers, which allows tenants convenient commutes to studios. Notable media production campuses in and around Burbank include Disney Studios, Walt Disney Imagineering, Warner Bros. Studios, Universal Studios, Nickelodeon Studios, Cartoon Network, and Dreamworks Animation.
Location
State CA
County Los Angeles
Area 610 - Burbank
Zoning BUR4*
Interior
Fireplace No
Exterior
Parking Features Assigned
Building
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 2468005023
Special Listing Condition Standard
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Listed by Roderick 'Rick' Raymundo • Marcus & Millichap