1923 Grismer Ave - Multi-Family FOR SALE


Burbank, CA 91504- Vega
$1,295,000 USD
818-427-7035
1923 Grismer Ave, Burbank, CA for Sale
$1,295,000 USD
Multi-Family - FOR SALE
1/11
null | 3.14% Cap Rate

1923 Grismer Ave
Burbank, CA 91504
Vega


HIGHLIGHTS

  • Location and access to 5 Frwy, Burbank Airport, Shopping Centers, Dining

OVERVIEW

Price Slashed $180K to $1,295,000. Seller offers $10K credit for disclosed foundation report and $1500 each Duplex Unit for updates per TDS/SPQ subject to offer terms. This Multi Family property offers a move-in-condition Main House, Plus a Rear 2 Story Duplex in need of cosmetic enhancements and routine maintenance to align with the area's higher rental values. Current rents are lower than average due long term tenants. Below market rents offer upside post updates. Lot is Zoned R4 for High-Density Residential/Multi-Family, property. The property features a main house built with a Spanish architectural style in 1923 and has 3 bedrooms (Title States 2) and 1 bath, approx. 884 sq. ft. of living space, equipped with inside laundry hookups. The front yard is nicely shaded with trees and offers a nice area to enjoy the outdoors. Additionally, two rear units are accessed from 1710 Peyton Ave and were added added in 1961, each with 2 bedrooms, 1 bath, and approx. 810 sq. ft.. Both units come with inside laundry hookups, a balcony for the upper unit, and a gated yard for the lower unit, providing desirable amenities for tenants. One unit of Duplex is currently Section 8. Main house has new permitted roof as of 2023. The location is convenient--directly across from Earth Walk Park, and with close proximity to schools, Shopping and the Burbank Airport and major freeways. The location offers convenience and a vibrant neighborhood. Buyer to confirm square footage. Submit offers with POF and Lenders Letter of Approval.

FOR SALE DETAILS

PRICE

$1,295,000 USD

PRICE/SF

$517 USD /SF

# OF UNITS

3

PRICE/UNIT

$431,667

CAP RATE

3.14%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

1923 Grismer Ave.

PROPERTY TYPE

Multi-Family

ADD'L SUBTYPES

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1923

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.15 AC

LAND SF

6,447 SF

ZONING

R4

APN/PARCEL ID

2468-014-010

ASK ABOUT THIS PROPERTY

Beverly PeltoneXp Realty of California, Inc.More Info
818-427-7035

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Beverly PeltoneXp Realty of California, Inc.More Info
818-427-7035

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