2912 W Riverside Dr - Apartments FOR SALE


Burbank, CA 91505- Media Center
$1,875,000 USD
818-219-6146
2912 W Riverside Dr, Burbank, CA for Sale
$1,875,000 USD
Apartments - FOR SALE
1/15
null | 4.06% Cap Rate

2912 W Riverside Dr
Burbank, CA 91505
Media Center


HIGHLIGHTS

  • Prime Burbank Media Center Location – Three Blocks from Warner Bros Studios, Near Walt Disney Studios
  • In-Unit Washer/Dryers in Each Apartment
  • Not Subject to Los Angeles Rent Control -- Burbank’s Rent Legislation Allows for Higher Rent Increases and is More Favorable to Owners
  • Newer Roof, Full Copper Plumbing, Garage Parking for Each Unit
  • Value-Add Potential via ADU Construction (Buyer to Verify)
  • Quiet, Low-Density Residential Neighborhood Adjacent to Toluca Lake, Rancho Riverside, Buena Vista Park, and the Los Angeles River

OVERVIEW

Marcus & Millichap is pleased to announce the opportunity to purchase 2912 W Riverside Drive, a four-unit multifamily property in Burbank, CA. Given its prime location in the heart of the Burbank Media Center, directly between Warner Bros Studios and Walt Disney Studios, the property grants its tenants convenient access to several major media employers. Because the property is subject only to Burbank’s local rent ordinance, an investor can benefit from higher allowable rent increases and more favorable landlord privileges when compared with similar properties in Los Angeles. Each of the units contains its own in-unit washer/dryer and has its own parking garage, with these amenities helping to attract higher-paying tenants. The roof was recently replaced and the plumbing has been upgraded with copper pipes. A new owner may potentially add significant value by constructing new ADUs on the property as well, given its existing parking garages and additional open parking area (Buyer to verify). In addition to the numerous studios within Burbank, including Walt Disney Imagineering, Nickelodeon Studios, Dreamworks Animation, and Cartoon Network, the property allows tenants comfortable commutes to several employers within nearby Studio City, Glendale, and Hollywood.

FOR SALE DETAILS

PRICE

$1,875,000 USD

PRICE/SF

$640 USD /SF

# OF UNITS

4

PRICE/UNIT

$468,750

CAP RATE

4.06%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Prime Burbank | Newer Roof and Plumbing

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1941

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.19 AC

LAND SF

8,333 SF

ZONING

BUR4*

APN/PARCEL ID

2485-029-017

ASK ABOUT THIS PROPERTY

Rick RaymundoMarcus and MillichapMore Info
818-219-6146

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Rick RaymundoMarcus and MillichapMore Info
818-219-6146

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