Exceptional Investment Opportunity in the Heart of Burbank. This well-maintained 5-unit property features a desirable front owner's unit and a two-story rear building with four additional rental units. Amenities include five garage parking spaces, one uncovered parking spot, and an on-site laundry room, ideal for both tenant convenience and additional… Read More income potential. Perfectly located near Warner Bros. and NBC Studios and just 15 minutes from Universal Studios. The front unit is a prime candidate for Airbnb or short-term rentals, offering significantly higher revenue compared to traditional annual leasing. The property underwent extensive renovations in 2022 and 2023, including a new roof on units and garages and new dual-pane windows in most units (except one). The current leases remain in place through August 31, 2025, the owner unit's rent based on AirBNB income, at which time rents can be adjusted by California's rent control guidelines. Bonus income potential: The new owner can increase revenue through separate charges for garage parking and storage. With rent increases taking effect, coupled with low building expenses and minimal maintenance, this property has the potential to achieve a cap rate exceeding 5.5%. Read Less
Property listed by Keller Williams Glendale, Somboon Nakorn 818-432-3200
Listing Snapshot
Days Online
48
Last Updated
Property Type
Other
Beds
6
Square Ft.
4,077
Lot Size
0.13 Acres
Year Built
1941
MLS Number
25555629
30 Days Snapshot Of 91505
$969k
-22%
(avg) sold price
18
+28%
homes sold
69
-6%
(avg) days on market
Snapshot
Area Map
Additional Details
Appliances & Equipment
Disposal, GasRange, Refrigerator
Building
Built in 1941, Building area total: 4,077, Levels: Two, Living area: 4077, 2 stories, 1 building, Construction materials: Stucco
Accessibility Features
Accessibility features: None
Expenses
Electric expense: $1,800, Gardener expense: $1,200, Insurance expense: $9,000, New taxes expense: $30,000, Other expense: $400
Fireplaces
Bath, Kitchen, LivingRoom
Floors
Laminate
Garage
5 spaces
Heating
NaturalGas
Income
Gross income: $162,180, Net operating income: $115,135
Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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