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Listed by Scott Pinkerton, DRE #01338387 • Century 21 Masters
$ 4,500,000
Est. payment /mo
Active
455 - 457 W Elm Burbank, CA 91506
0.33 Acres Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRSR26169083
Year Built 1953
Lot Size 0.327 Acres
Source California Regional MLS
Property Description
Amazing opportunity to acquire 455-457 W Elm Avenue, a 12-unit multifamily investment property located in Burbank's desirable Rancho Adjacent submarket. A Distinctive 12-Unit Multifamily Investment in the Heart of Burbank The property consists of approximately 9,528 square feet across two well-maintained, Tudor-style residential buildings. The courtyard-style configuration, mature landscaping, brick detailing, and distinctive architectural character contribute to an inviting residential environment and strong curb appeal. The property generates approximately $312,300 in annual gross income. Based on stabilized expenses of $117,749, the offering produces an estimated stabilized net operating income of $194,551. At the $4,500,000 asking price, the property is offered at a 4.32% capitalization rate, $375,000 per unit, and approximately $472.29 per square foot. Current residential rents average approximately $2,123 per unit per month, excluding garage income, compared with a reported submarket median of approximately $2,350 for comparable two-bedroom, one-bathroom units. This difference may provide an opportunity for future rental growth through natural turnover, subject to applicable rent regulations, market conditions, unit condition, and buyer verification. Please do no
Location
State CA
County Los Angeles
Area 610 - Burbank
Interior
Cooling Window / Wall Unit
Laundry In Laundry Room, Community Facility
Exterior
Garage Spaces 6.0
Pool None
Building
Water District - Public
Others
Tax ID 5625022005
Special Listing Condition Not Applicable
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