Commercial For Sale | Multifamily | Apartment building / Low Rise / Garden Style / 1-3 stories high

143 North Beachwood Drive . Burbank , CA 91506

For sale 12 Units w 8 Vacancies 4.75% Cap Rate Burbank, CA. Preliminary plans to add 4 ADUs (2 Attached & 2 Detached) For more information contact the listing agent Global Platinum Properties arminsoleimani@gmail.com 310 666-2246

Posted: 01/24/2023 4:46 am | On HOMEiZ: 480 days | Updated: 5 months ago | Views: 628

Location Map

Property Type

Pending

Property Price

$4350000
$ N/A
0.33 Acres
$635
6854
Contact listing agent%
4.75%
$0
$206625
15.51
1.25%
$54375

Property Location & Description

For sale 12 Units w 8 Vacancies 4.75% Cap Rate Burbank, CA. Preliminary plans to add 4 ADUs (2 Attached & 2 Detached) For more information contact the listing agent Global Platinum Properties arminsoleimani@gmail.com 310 666-2246
Non Rent Control
Rare 12 Unit building with 8 vacancies in the Prime Burbank area priced at only 374k/door for bungalow style units. Incredible Current Cap Rate of 4.75% and 14.7 GRM after renovations with upside to 5.2% Cap Rate and 13.7 GRM on Proforma. All vacant units are under renovation so the buyer can complete to own taste and finishes and get top market rents. (All the rough construction and heavy lifting have been done). Diverse Unit Mix consisting of 2 (2bed/1bath), 4 (1bed/1bath), 6 (studio/1bath). All units are individually metered for Gas & Electricity. Preliminary plans to add 4 ADUs (2 Attached & 2 Detached) to further improve the numbers to only 280k/door. Non-Rent Controlled Asset allowing 10% annual increases.
Prime Burbank location minutes away from media giants such as Warner Bros Studios, Walt Disney Studios, and Burbank Town Center Shopping Mall.
12
$362500
No.
Description
No. Units
Sq. Ft.
Avg. Mo. Rent
1.
1+1 
4 
 
2.
2+1 
2 
 
3.
0+1 
6 
 
4.
 
 
 
5.
 
 
 
2446-020-020
BUR4
40%
Wood & Stucco
2
1950
Good
12 Unit building with 8 vacancies in Prime Burbank area priced at only 374k/door for bungalow style units
Individually metered for Gas & Electricity
All vacant units are under renovations so the buyer can complete with own taste and finishes and get top market rents
Diverse Unit Mix consisting of 2 (2bed/1bath), 4 (1bed/1bath), 6 (studio/1bath)
Preliminary plans to add 4 ADUs (2 Attached & 2 Detached)

Property Information

Sewer

Parking

Garage - Attached
Off-street
Assigned Parking
12

Investment Overview

Investor

Energy Efficiency

No
No Data
N/A
N/A
No
No
No
No

Neighborhood lifestyle

Urban Core

More information

Listing Info

Listing ID: 3293
Pending

For Sale

$4,350,000

Listing Presented by

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