1814 Grismer Ave - Apartments FOR SALE


Burbank, CA 91504- Vega
$4,675,000 USD
323-376-2469
1814 Grismer Ave, Burbank, CA for Sale
$4,675,000 USD
Apartments - FOR SALE
1/17
null | 5.33% Cap Rate

1814 Grismer Ave
Burbank, CA 91504
Vega


HIGHLIGHTS

  • Desirable Burbank Location
  • Subject to State (AB 1482) Rent Control
  • Recent Roof Replacement
  • New Electrical Main Panel
  • Rents Close to Market Rate

OVERVIEW

1814 Grismer Avenue is a turn-key fourteen (14) unit apartment building located in Burbank. Considered the "media capital of the world," Burbank is a major center of the entertainment industry and home to several prominent film and television studios. The opportunity consists of two (2) studio units, ten (10) one-bedroom units and two (2) two-bedroom/two-bathroom units. Additionally, amenities include on-site parking for almost all the units and a gated pool. Lastly, the building has undergone recent capital improvements including a new roof and a new main electrical panel. The city of Burbank does not have traditional rent control but operated under state law (AB 1482). Buyer to verify.

FOR SALE DETAILS

PRICE

$4,675,000 USD

PRICE/SF

$472 USD /SF

# OF UNITS

14

PRICE/UNIT

$333,929

CAP RATE

5.33%

% LEASED

86%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1961

PARKING SPACES

12

LAND DETAILS

LAND ACRES

0.23 AC

LAND SF

9,874 SF

ZONING

R4, Burbank

APN/PARCEL ID

2468-005-023

ASK ABOUT THIS PROPERTY

Andres DiazKW CommercialMore Info
323-376-2469

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

Andres DiazKW CommercialMore Info
323-376-2469

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