324 E Santa Anita Ave - Apartments FOR SALE


Burbank, CA 91502
$2,925,000 USD
805-657-7374
324 E Santa Anita Ave, Burbank, CA for Sale
$2,925,000 USD
Apartments - FOR SALE
1/17
null | 6.46% Cap Rate

324 E Santa Anita Ave
Burbank, CA 91502


HIGHLIGHTS

  • Walking distance to restaurants
  • Already upgraded/renovated
  • ADU conversion potential

OVERVIEW

The E. Santa Anita Ave Residences present a rare value-add opportunity in one of Burbank's most desirable rental corridors, just south of Glenoaks Blvd. This 8-unit, 6,001 sq. ft. building sits on an oversized 8,978 sq. ft. lot and features an efficient mix of two 2BR/1BA units and six 1BR/1BA units. Units have already been modernized with stainless-steel appliances, wood flooring, and upgraded bathroom vanities. Ownership has also completed major system upgrades, including electrical, reducing near-term maintenance exposure for a new investor. Built in 1957, the property is subject to AB 1482, allowing approximately 8% annual rent increases. Eight parking spaces (including tandem), and a rear garage with ADU conversion potential, this asset offers multiple avenues for forced appreciation. This is an exceptional chance to acquire a trophy multifamily asset in a prime, low-vacancy Burbank neighborhood with strong long-term fundamentals.

FOR SALE DETAILS

PRICE

$2,925,000 USD

PRICE/SF

$487 USD /SF

# OF UNITS

8

PRICE/UNIT

$365,625

CAP RATE

6.46%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1957

PARKING SPACES

10

LAND DETAILS

LAND ACRES

0.2 AC

LAND SF

8,927 SF

ZONING

BUR4*

APN/PARCEL ID

2453-029-008

ASK ABOUT THIS PROPERTY

Renee Wilkins-VirellaKeller Williams WestlakeMore Info
805-657-7374

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Renee Wilkins-VirellaKeller Williams WestlakeMore Info
805-657-7374

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