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$5,975,000
Est. payment /mo
0.41 Acres Lot
UPDATED:
12/14/2024 11:06 PM
Key Details
Property Type Condo
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
MLS Listing ID BB24247060
HOA Y/N No
Year Built 1951
Lot Size 0.409 Acres
Lot Dimensions Assessor
Property Description
Stunning Multifamily Investment Opportunity in Burbank : 240-260 E. Providencia
We are excited to present this meticulously renovated 15-unit multifamily property located in the heart of Burbank, renowned as the Media Capital of the World. This exceptional investment opportunity is situated in one of the region’s most sought-after rental markets, offering strong returns and long-term growth potential.
Property Highlights:
Prime Location: Nestled on a 17,821-square-foot lot with 100 feet of street frontage across two parcels.
Diverse Unit Mix:
(12) One-bedroom, one-bathroom units
(2) Two-bedroom, one-bathroom units
(1) Two-bedroom, two-bathroom unit
Bonus: A 153-square-foot storage room that can be converted into an office.
Rentable Space: 8,202 square feet of updated, income-generating units.
Attractive Financials: Enjoy an in-place 6.19% CAP rate, making this an outstanding investment for cash flow and value appreciation.
This property represents the ideal combination of a renovated asset, diverse floor plans, and an exceptional location, making it a premier choice for savvy investors looking to capitalize on Burbank’s ever-growing rental demand. Don’t miss the chance to add this jewel to your portfolio!
We are excited to present this meticulously renovated 15-unit multifamily property located in the heart of Burbank, renowned as the Media Capital of the World. This exceptional investment opportunity is situated in one of the region’s most sought-after rental markets, offering strong returns and long-term growth potential.
Property Highlights:
Prime Location: Nestled on a 17,821-square-foot lot with 100 feet of street frontage across two parcels.
Diverse Unit Mix:
(12) One-bedroom, one-bathroom units
(2) Two-bedroom, one-bathroom units
(1) Two-bedroom, two-bathroom unit
Bonus: A 153-square-foot storage room that can be converted into an office.
Rentable Space: 8,202 square feet of updated, income-generating units.
Attractive Financials: Enjoy an in-place 6.19% CAP rate, making this an outstanding investment for cash flow and value appreciation.
This property represents the ideal combination of a renovated asset, diverse floor plans, and an exceptional location, making it a premier choice for savvy investors looking to capitalize on Burbank’s ever-growing rental demand. Don’t miss the chance to add this jewel to your portfolio!
Location
State CA
County Los Angeles
Area 610 - Burbank
Zoning BUR4*
Interior
Heating Central
Cooling Central Air
Fireplaces Type None
Fireplace No
Laundry Inside
Exterior
Pool None
Community Features Street Lights, Sidewalks
Private Pool No
Building
Story 2
Sewer Public Sewer
Water Public
New Construction No
Others
Senior Community No
Tax ID 2453031008
Acceptable Financing Cash, Cash to New Loan
Listing Terms Cash, Cash to New Loan
Special Listing Condition Standard
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Listed by Steve Hovakimyan • City Center Realty Group • 818-845-5551