Property listed by Keller Williams Glendale, Somboon Nakorn 818-432-3200
$2,100,000
Sellers will carry the 1st loan with an acceptable down payment, and offer the interest rate at 5.00% fixed for the first 5 years. The buyer's potential has a positive cash flow with interest payment only. This will be a great Investment Opportunity in the Heart of Burbank. This well-maintained… Read More 5-unit property features a desirable front owner's unit and a two-story rear building with four additional rental units. Amenities include five garage parking spaces, one uncovered parking spot, and an on-site laundry room, ideal for both tenant convenience and additional income potential. Perfectly located near Warner Bros. and NBC Studios, and just 15 minutes from Universal Studios. The front unit is owner-occupied; it will be vacant at closing. The property underwent extensive renovations in 2022 and 2023, including a new roof on units and garages and new dual-pane windows in most units (except one). The current leases remain in place through August 31, 2025. The owner unit's rent can be set at the market rent, subject to California's rent control guidelines. The new owner can increase revenue through separate charges for garage parking and storage. Potential Value Add by building a new ADU above the current garage or converting it to an ADU. With rent increases taking effect, coupled with low building expenses and minimal maintenance, this property has the potential to achieve a cap rate exceeding 5.0%. Read Less
Listing Snapshot
Days Online
256
Last Updated
Beds
6
Square Ft.
4,077
Lot Size
0.13 Acres
Year Built
1941
MLS Number
25555629
Additional Details
Appliances & Equipment
Disposal, GasRange, Refrigerator
Building
Built in 1941, Living area: 4077.0, 1 building, 2 stories, Levels: Two, Entry location: Ground Level w/steps, Construction Materials: Stucco
Accessibility Features
None
Expenses
Electric: $1,800, Gardener: $1,200, Insurance: $9,000, Other Expense: $400
Exterior Features
Patio/Porch Features: None
Fireplaces
Bath, Kitchen, LivingRoom
Floors
Laminate
Garage
5 spaces
Heating
NaturalGas
Income
Gross Income: $147,331, Net Operating Income: $95,431
Interior Features
CrownMolding
Laundry
CommonArea, Stacked
Lot
0.1306 acres, Dimensions: 52x110, RectangularLot
Parking
1 open parking spaces, 6 total parking spaces, DoorMulti, DoorSingle, Garage, OneSpace, OnStreet
Pool
None
Property
UpdatedRemodeled, CityLights
Roof
Composition, Shingle
Security Features
CarbonMonoxideDetectors, SmokeDetectors
Sewer
SewerTapPaid
Taxes
Parcel Number: 2485007012, Zoning: BUR4*
Tenant Pays
CableTv, Electricity, Gas, TrashCollection, Water
Utilities
Water Source: Public, 5 separate water meters
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Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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