Property listed by Marcus & Millichap, Roderick 'Rick' Raymundo 818-212-2700
$4,675,000
Due to the fact that the property is subject only to Burbank's local rent ordinance, a new owner may be able to recapture the rent upside and keep pace with improving rent growth via higher allowable rent increases, when compared with other assets subject to Los Angeles rent control. The… Read More property features copper plumbing throughout most of the building, while the majority of units have been upgraded with new granite countertops, dual-pane windows, wood laminate flooring, and new AC units. The on-site laundry facilities are owned by the landlord, allowing for a more substantial supplemental revenue stream. 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. Read Less
Listing Snapshot
Days Online
0
Last Updated
Beds
14
3/4 Baths
16
Square Ft.
9,906
Lot Size
0.23 Acres
Year Built
1961
MLS Number
26107770
Additional Details
Building
Built in 1961, Living area: 9906.0, 1 building, 2 stories, Levels: MultiSplit
Income
Gross Income: $403,800, Net Operating Income: $282,174
Lot
0.2321 acres
Parking
Assigned
Taxes
Parcel Number: 2468005023, Zoning: BUR4*
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