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Nicole Hazelton-Meacham

[email protected] +1(619) 206-1892

$1,595,000

Est. payment - /mo

6 Beds

4 Baths

7,758 Sqft Lot

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UPDATED:

Key Details

Property Type Multi-Family

Sub Type Res Income 2-4 Units

Listing Status Active

Purchase Type For Sale

MLS Listing ID SR26147163

Bedrooms 6

Lot Size 7,758 Sqft

Property Sub-Type Res Income 2-4 Units

Property Description

Rare opportunity to acquire a well-maintained, fully occupied single-story four-unit investment property in the heart of Burbank. Ideally located on a quiet, low-traffic dead-end street just minutes from Interstate 5, Alameda Avenue, major studios, shopping, dining, and employment centers, this pride-of-ownership property offers stable current income and long-term upside. The property features two 2-bedroom, 1-bath units and two 1-bedroom, 1-bath units, all occupied by long-term month-to-month tenants. Under the same ownership for over 22 years, the property has experienced very little vacancy, reflecting its desirable location and strong rental demand. Numerous improvements include updated unit interiors, an updated sewer line, private full-size laundry sheds for the two-bedroom units, interior stackable laundry in the one-bedroom units, and a charming shared courtyard patio for tenant enjoyment. Each unit is individually metered for gas and electricity. Four detached single-car garages and a large storage shed are rented separately, providing additional income beyond the apartment rents. A spacious rear parking area offers ample off-street parking for tenants and guests. Current gross scheduled income is approximately $9,850 per month ($118,200 annually) with a projected buyer pro forma cap rate of approximately 5.7% (buyer to verify). Situated on a generous 7,748 SF lot with potential future expansion or redevelopment opportunities (buyer to verify with the City of Burbank), this is an exceptional opportunity to acquire a quality investment property in one of Burbank's m

Location

State CA

County Los Angeles

Zoning Assessor

Direction Alameda to Lake to Spazier

Interior

Cooling Wall/Window

Fireplace No

Exterior

View Y/N No

Roof Type Composition

Building

Story 1

Level or Stories 1

Others

Senior Community No

Tax ID 5625016017

Acceptable Financing Exchange

Listing Terms Exchange

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Listed by Brian Palmer, DRE#01047928 RE/MAX Gateway

Nearby School & Business

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Nicole Hazelton-Meacham

+1(619) 206-1892

Broker Associate | License ID: 01819363

Broker Associate License ID: 01819363

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210 W Spazier Burbank, CA 91502

Nicole Hazelton-Meacham

Key Details

Location

Interior

Exterior

Building

Others

Nearby School & Business

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