140 N Pass Ave - Apartments FOR SALE


Burbank, CA 91505- Media Center
$2,399,900 USD
818-445-7300
140 N Pass Ave, Burbank, CA for Sale
$2,399,900 USD
Apartments - FOR SALE
1/46
null | 4.16% Cap Rate

140 N Pass Ave
Burbank, CA 91505
Media Center


HIGHLIGHTS

  • Renovated most of inside the units in year 2023-2024
  • Prime area for Airbnb, walking distance to Warner Bro, Walt Disney Studio and NBC Studio.
  • Potential increase rent and have an additional income on 09/01/20255

OVERVIEW

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, 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 Airbnb or short-term rental, offering significantly higher revenue compared to traditional annual leasing. The property underwent extensive renovations in 2022–2023, including a new roof on all units and garages and new dual-pane windows in most units (except for one). Current leases remain in place through August 31, 2025, at which time rents can be adjusted following California’s 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 cap rate exceeding 5.35%.

FOR SALE DETAILS

PRICE

$2,399,900 USD

PRICE/SF

$589 USD /SF

# OF UNITS

5

PRICE/UNIT

$479,980

CAP RATE

4.16%

% 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
818-445-7300

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Sam NakornKW Commercial GlendaleMore Info
818-445-7300

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