Armin Soleimani
This listing was posted on RealtyWW.
$5,595,000
Home For Sale In Burbank, California
Price:
$5,595,000
BR/BA:
10+ BA
Location:
2001 Peyton Ave, Burbank, CA
Description:
Huge 400k Price Reduction! This is an excellent opportunity to invest in a rare non-rent controlled 20-unit building (85% occupied) in the prime Burbank area, priced at only $279k per door for renovated units. The property boasts an incredible current 5.80% Cap Rate and 12.3 GRM with upside potential to reach a 6.3% cap rate and 11.6 GRM on proforma. 16 fully renovated units with permits and 2 partially remodeled units offer promising long-term value for any forward-thinking investor. Additionally, the large lot size of approximately 19, 166 SF provides ample parking spaces as well as potential for future upside by adding multiple ADUs (Accessory Dwelling Units). Non-LA-City rent-controlled asset allowing significant 8.8% annual rent increases (5%+CPI) for future upside. 16 units have been completely renovated with permits (3 vacant) and boast a high-end aesthetic with new cabinets, flooring, modern lighting, new bathrooms, stainless steel appliances, as well as major exterior capital improvements. Amenities include a renovated courtyard with seating areas and a fire pit, on-site laundry facilities, and parking for convenience. Prime Burbank location just minutes away from media giants such as Warner Bros Studios, Walt Disney Studios, and Burbank Town Center Shopping Mall.For more details: https://realtyww.info/homes_burbank-d523821/for-sale_i69552616
Property Type:
Single-Family Houses
Sq feet:
166 sq. ft.
Amenities:
Parking
Posted:
March 17 on RealtyWW
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More About this Listing: Home For Sale In Burbank, California
Home For Sale In Burbank, California is a 10 Bathroom, 10+ BA, 20 Bathroom Single-Family Homes for Sale at 2001 Peyton Ave in Burbank CA. Find other listings like Home For Sale In Burbank, California and listings near 2001 Peyton Ave by searching Oodle Classifieds for 10 Bathroom, 10+ BA, 20 Bathroom Single-Family Homes for Sale in Burbank CA.
Home For Sale In Burbank, California is a 10 Bathroom, 10+ BA, 20 Bathroom Single-Family Homes for Sale at 2001 Peyton Ave in Burbank CA. Find other listings like Home For Sale In Burbank, California and listings near 2001 Peyton Ave by searching Oodle Classifieds for 10 Bathroom, 10+ BA, 20 Bathroom Single-Family Homes for Sale in Burbank CA.