This is an incredible value-add opportunity situated in a highly desirable area of Burbank. Boasting a generous 10,603 sq. ft. lot, this property offers significant development potential—possibility to build up to 10 units, subject to verification and approval by the City of Burbank. Buyers are encouraged to conduct their own… Read More due diligence with the city to explore the full scope of development options. Currently, the property features six well-maintained residential units, thoughtfully distributed across three separate garden-style buildings. The unit mix includes: Three (3) units with 1 bedroom and 1 bathroom, and Three (3) units with 2 bedrooms and 1 bathroom. Each unit offers a comfortable and functional living space, and five out of six units are equipped with central heating and air conditioning for year-round comfort. The interiors have been meticulously maintained, reflecting pride of ownership, and several long-term tenants add stability to this income-producing asset. Parking accommodations include a 4-car carport and three uncovered parking spaces, offering a total of 7 on-site parking spots. A coin-operated laundry area, conveniently located within one of the carports, provides additional income potential and convenience for tenants. Notably, the last two units were originally one large single-family residence that has been divided into two separate units—this alteration may have been done without permits, and buyers should investigate accordingly. To enhance the appeal, the seller is offering seller financing, and is willing to carry the first trust deed with 40% down payment for a term of two years, with competitive interest rates. This is a rare chance to secure a valuable investment with favorable financing terms. Offers are subject to inspection Read Less
Property listed by Equity Union, Joyce Starleaf 818-612-0514
Listing Snapshot
Days Online
62
Last Updated
Property Type
Apartment
Lot Size
0.24 Acres
Year Built
1941
MLS Number
BB25062782
30 Days Snapshot Of 91504
$1.32M
+9%
(avg) sold price
7
-41%
homes sold
51
-32%
(avg) days on market
Snapshot
Area Map
Additional Details
Expenses
Fuel expense: $720, Electric expense: $1,560, Gardener expense: $1,200, Insurance expense: $5,600, Operating expense: $11,552, Water sewer expense: $1,560
Building
Built in 1941, Building area total: 3,875, Levels: One, 1 story, 4 buildings, Architectural style: Bungalow, Attached, Common walls: TwoCommonWallsOrMore
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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