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$4,250,000
Est. payment /mo
21 Beds
21 Baths
15,295 SqFt
UPDATED:
01/22/2025 01:09 AM
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 15,295 sqft
Price per Sqft $277
MLS Listing ID 25477809
Bedrooms 21
HOA Y/N No
Year Built 1958
Lot Size 0.363 Acres
Property Description
Rare opportunity to acquire 13060 Burbank Blvd, a 19-unit value-add property located in the heart of prime Sherman Oaks, one of Los Angeles' most desirable submarkets. Nestled along Burbank Blvd, between Coldwater Canyon Ave and Fulton Ave, this property offers investors a chance to own a coveted piece of real estate in one of the San Fernando Valley's most attractive rental markets. Constructed in 1958, this two-story structure spans approximately 15,295 square feet on a 15,825 square foot lot. The property has been meticulously maintained and managed by the same ownership for nearly 14 years, offering significant rental upside. Additionally, there is potential to build three Accessory Dwelling Units (ADUs), which would substantially increase income (buyer to confirm). 13060 Burbank Blvd provides investors with the rare opportunity to acquire an ideal value-add opportunity with significant upside potential. The Property features spacious and well-designed units, with a strong unit mix of (1) studio, (15) one-bedroom, one-bath units, and (1) two-bedroom, one-bath unit, and (2) two-bedroom, two-bath units. Over the years, the ownership has implemented unit upgrades on select units as they turn over including high-end finishes, upgraded flooring and kitchens, granite countertops, double pane windows, stainless steel appliances, copper plumbing, and electrical upgrades. The property also boasts a new roof installed in 2018 and completed seismic retrofit work in 2022. Tenants benefit from secured entry, a relaxing swimming pool, on-site laundry facilities, and on-site parking with 14 single spaces and 4 tandem spaces, some of which are gated. While this asset has been well-maintained and units have been nicely upgraded to varying degrees over the years, this Property is an ideal value add opportunity. There are currently 3 vacant units, and one of the vacant units is gutted and unrenovated. Through a systemic renovation program, a savvy investor will have the opportunity to increase income by renovating units, upgrading the exterior, implementing RUBS to charge back for utilities, and adding ADUs. 13060 Burbank Blvd is nestled in one of Los Angeles' most sought-after markets, surrounded by a plethora of amenities including renowned restaurants, entertainment venues, fitness centers, and shops. Boasting excellent visibility, the property is strategically located at the corner of Ethel Ave and Burbank Blvd, in a residential area where home values are steadily rising. Directly across the street lies Los Angeles Valley College, currently undergoing a $704 million renovation and building project, which further elevates the demand for housing in this vibrant market. Additionally, tenants are just minutes away from the iconic Ventura Blvd and the Shops at Sportsmen's Lodge in Studio City, offering a daily oasis for shopping, dining, and wellness. Positioned in a strong and rapidly growing market, investors have a prime opportunity to capitalize on the remaining rental upside, ensuring long-term returns and appreciation.
Location
State CA
County Los Angeles
Area So - Sherman Oaks
Zoning LARD1.5
Interior
Heating Wall Furnace
Fireplace No
Appliance Microwave, Refrigerator
Exterior
Parking Features Assigned, Private
Pool In Ground
Total Parking Spaces 19
Building
Story 2
Entry Level One
Level or Stories One
New Construction No
Others
Senior Community No
Tax ID 2345006001
Special Listing Condition Standard
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Listed by Angelica Gotzev • Kidder Mathews of California, Inc.