1101 East Ave - Apartments FOR SALE


Burbank, CA 91504
$7,175,000 USD
626-429-0685
1101 East Ave, Burbank, CA for Sale
$7,175,000 USD
Apartments - FOR SALE
1/40
null | 4.47% Cap Rate

1101 East Ave
Burbank, CA 91504


OVERVIEW

Villa Bonita Condominiums is a pride-of-ownership, turnkey 10- unit condominium community located at 1101 East Avenue in Burbank, CA 91504. Built in 2009, the property offers 15,535 gross square feet across large townhome-style floorplans—seven 2- bedroom/2.5-bathroom units averaging 1,338 SF and three 3-bedroom/3-bathroom units averaging 1,858 SF. Luxury condograde finishes include stainless appliances, granite counters, gas fireplaces, central A/C and heat, and in-unit washers and dryers. Every unit features a patio or balcony, and the building is served by 23 gated semi-subterranean parking spaces (including 2 handicap) with a wheelchair lift from garage to first floor. A defining feature of this asset is its 10 individually parceled condominium units (APNs 2459-030-019 thru 028), creating a dual-exit strategy: continue operating as rentals under the 1101 East Avenue Association, or sell units individually as condos. Seller will provide HOA/CC&R/Bylaws, Certification of Completion, and White-Slip condo docs. With no traditional Burbank rent control—only state AB 1482 and local soft-cap ordinances—and a 2009 build requiring minimal near-term capital, Villa Bonita is a compelling, low-management investment in the highly sought-after Burbank rental market.

FOR SALE DETAILS

PRICE

$7,175,000 USD

PRICE/SF

$480 USD /SF

# OF UNITS

10

PRICE/UNIT

$717,500

CAP RATE

4.47%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2009

PARKING SPACES

23

LAND DETAILS

LAND ACRES

0.41 AC

LAND SF

17,905 SF

ZONING

BUR4*

APN/PARCEL ID

2459-030-019,2459-030-020,2459-030-021,2459-030-022,2459-030-023,2459-030-024,2459-030-025,2459-030-026,2459-030-027,2459-030-028

ASK ABOUT THIS PROPERTY

Kevin LutzBridge Investment GroupMore Info
626-429-0685

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Kevin LutzBridge Investment GroupMore Info
626-429-0685

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.