198 W Elmwood Ave - Apartments FOR SALE


Burbank, CA 91502- Rancho Adjacent
$2,395,000 USD
818-281-0478
198 W Elmwood Ave, Burbank, CA for Sale
$2,395,000 USD
Apartments - FOR SALE
1/17
null | 4.79% Cap Rate

198 W Elmwood Ave
Burbank, CA 91502
Rancho Adjacent


HIGHLIGHTS

  • 5.7% Pro Forma Cap Rate | 13.0 Pro Forma GRM
  • Coin Laundry (machines owned)
  • Fans in all units
  • Six covered parking spaces each with storage space & Shared front yard
  • Stove in Each Unit; three units have Refrigerator and two units have dishwasher.
  • Newer roof, Newer windows

OVERVIEW

Prime Burbank 6-Unit Multifamily | Strong Rental Upside | 5.7% Pro Forma Cap Located in the highly desirable City of Burbank — subject to AB 1482 with higher allowable annual rental increases than the City of Los Angeles — this pride-of-ownership six-unit multifamily property presents an exceptional value-add investment opportunity with approximately 18%+ rental upside. The property consists of six spacious 2-bedroom, 1-bath units, each featuring bright living rooms, well-sized kitchens with dining areas, generous bedrooms, and ample closet space. The building has been well maintained and includes a newer roof, partial copper plumbing, six covered parking spaces, and an on-site laundry room with owned machines. The property is separately metered for gas and electricity. Ideally situated less than one mile from Downtown Burbank, tenants enjoy convenient access to shopping, dining, cafés, entertainment, and the Burbank Town Center. The property is also in close proximity to major employment hubs including Walt Disney Studios, Warner Bros., and the city’s thriving media and technology sector, as well as award-winning Burbank schools. Commuters benefit from excellent freeway access to the 5, 134, and 2, providing direct connectivity to Glendale, Pasadena, Eagle Rock, Downtown Los Angeles, and the San Fernando Valley. This offering represents a rare opportunity to acquire a stable, well-located multifamily asset in one of Los Angeles County’s most resilient and supply-constrained rental markets. Financial Highlights (Based on New Tax Basis): • 4.9% Cap Rate | 14.79 GRM at Current Rents • 5.7% Pro Forma Cap Rate | 13.0 Pro Forma GRM

FOR SALE DETAILS

PRICE

$2,395,000 USD

PRICE/SF

$499 USD /SF

# OF UNITS

6

PRICE/UNIT

$399,167

CAP RATE

4.79%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1953

PARKING SPACES

6

LAND DETAILS

LAND ACRES

0.17 AC

LAND SF

7,405 SF

ZONING

BUR4

APN/PARCEL ID

2451-001-035

ASK ABOUT THIS PROPERTY

Silvia RaghebTrinity Real Estate & InvestmentsMore Info
818-281-0478

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Silvia RaghebTrinity Real Estate & InvestmentsMore Info
818-281-0478

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