Situated near the popular Magnolia Park neighborhood, the property occupies a corner lot within a quiet area surrounded by mostly single-family residences. 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… Read More pace with improving rent growth via higher allowable rent increases, when compared with other assets subject to Los Angeles rent control. The current owners have completed all seismic retrofit repairs (Buyer to verify), saving a new investor from an otherwise costly maintenance expense. The property also offers investors a strong supplemental revenue stream via its landlord-owned laundry facilities. 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
Courtesy of Marcus & Millichap 818-212-2700
Listing Snapshot
Days Online
35
Last Updated
Property Type
Other
Beds
14
Square Ft.
9,306
Lot Size
0.23 Acres
Year Built
1963
MLS Number
25610503
30 Days Snapshot Of 91505
$1.24M
+3%
(avg) sold price
6
+50%
homes sold
42
-48%
(avg) days on market
Snapshot
Area Map
Additional Details
Building
9,306 sq ft, Built in 1963, Levels: Two
Disclosures
As Is
Garage
Assigned
Lot
LotAcreage: 0.2331, LotSizeArea: 10,154
Parking
TotalParking: 14
Property
NumberOfUnits: 13, Zoning: BUR4*
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