1138 N Parish Pl - Apartments FOR SALE


Burbank, CA 91506- Northwest District
$1,995,000 USD
818-219-6146
1138 N Parish Pl, Burbank, CA for Sale
$1,995,000 USD
Apartments - FOR SALE
1/20
null | 4.74% Cap Rate

1138 N Parish Pl
Burbank, CA 91506
Northwest District


HIGHLIGHTS

  • Corner Location in Burbank, Blocks from Burbank Empire Center Shopping Mall
  • Fully Upgraded Property — New Electrical Main Panel and Subpanels, New Roof, New Asphalt, and Remodeled Interiors
  • Not Subject to Los Angeles Rent Control -- Burbank’s Rent Legislation Allows for Higher Rent Increases
  • Recently Passed SB 721 Inspection (Buyer to Verify)
  • All Units Include New Flooring, New Windows, New AC Units, and New Kitchens
  • Newly Installed Laundry Room and New Security Camera System

OVERVIEW

Marcus & Millichap is pleased to announce the opportunity to purchase the 1138 N Parish Place, a 6-unit multifamily property located in Burbank, CA. Occupying a corner lot with high visibility along Victory Boulevard, the two buildings attract tenants who appreciate convenient access to the Burbank Empire Center, Downtown Burbank, and the Burbank Town Center. Every unit has been upgraded, featuring new wood flooring, new vinyl windows, new AC units, and remodeled kitchens. The entire property has been updated with a new main electrical panel, new subpanels and breakers, a new roof, new asphalt, a new laundry room, and a new security system. The property also recently passed the SB 721 elevated walkways inspection (Buyer to verify). Dubbed the “Media Capital of the World,” the city of Burbank is home to a vast contingent of entertainment employers, which allows tenants convenient commutes to studios. Notable media production campuses in and around Burbank include Disney Studios, Walt Disney Imagineering, Warner Bros. Studios, Universal Studios, Nickelodeon Studios, Cartoon Network, and Dreamworks Animation. In addition to the Burbank Town Center Shopping Mall, several other retail and dining destinations are conveniently accessible to tenants, including the Empire Center, Costco, Ikea, and the Americana at Brand lifestyle center.

FOR SALE DETAILS

PRICE

$1,995,000 USD

PRICE/SF

$639 USD /SF

# OF UNITS

6

PRICE/UNIT

$332,500

CAP RATE

4.74%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

New Roof & Electrical | Corner Location

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1955

PARKING SPACES

5

LAND DETAILS

LAND ACRES

0.13 AC

LAND SF

5,563 SF

ZONING

BUR4*

APN/PARCEL ID

2438-024-022

ASK ABOUT THIS PROPERTY

Rick RaymundoMarcus and MillichapMore Info
818-219-6146

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Rick RaymundoMarcus and MillichapMore Info
818-219-6146

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