140 N Pass Ave - Apartments FOR SALE


Burbank, CA 91505- Media Center
$2,200,000 USD
140 N Pass Ave, Burbank, CA for Sale
$2,200,000 USD
Apartments - FOR SALE
1/46
null | 4.34% Cap Rate

140 N Pass Ave
Burbank, CA 91505
Media Center


HIGHLIGHTS

  • Seller will carry the 1st loan with acceptable down payment.
  • Value add-Potential build new ADU or convert garage to ADU-Prime area of Burbank city, walking distance to Warner Bro, and other Studios.
  • Renovated most of inside the units in year 2022-2024

OVERVIEW

Seller will carry the 1st loan with an acceptable down payment: Buyer can choose to pay the interest-only payment in the 1st 5 years. This can create a positive cash flow with a lower down payment. It is an 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 5 garage parking spaces, plus one uncovered parking spot, and an on-site laundry room—ideal for both tenant convenience and an additional 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 owner-occupied or rent to the market, offering significantly higher revenue. The property underwent extensive renovations in 2022–2023, including a new roof on all units, garages, and new dual-pane windows in most units. Rent in all units is due to increase now, except one unit due on April 1, 2026. No rent control in Burbank, but the landlord has to follow state rent control guidelines. The new owner can increase additional revenue through separate charges for garage parking and storage, which were previously included in the base rent. With rent increases taking effect, coupled with low building expenses and minimal maintenance needs, this property has the potential to achieve a higher cap rate.

FOR SALE DETAILS

PRICE

$2,200,000 USD

PRICE/SF

$540 USD /SF

# OF UNITS

5

PRICE/UNIT

$440,000

CAP RATE

4.34%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Dormitory

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1941

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.13 AC

LAND SF

5,658 SF

ZONING

BUR4*

APN/PARCEL ID

2485-007-012

ASK ABOUT THIS PROPERTY

Sam NakornKW Commercial GlendaleMore Info

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Sam NakornKW Commercial GlendaleMore Info

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