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Listed by Renee Wilkins-Virella • Keller Williams Westlake Village
$ 2,925,000
Est. payment /mo
Active
324 E Santa Anita Avenue Burbank, CA 91502
10 Baths
6,001 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Sale
Listing Status Active
Purchase Type For Sale
Square Footage 6,001 sqft
Price per Sqft $487
MLS Listing ID 225005776
Full Baths 10
Year Built 1957
Lot Size 8,981 Sqft
Property Sub-Type Sale
Source Conejo Simi Moorpark Association of REALTORS®
Property Description
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.
Unit A .....2 bed, 1 1/2 bath $2599
Unit B.....1 Bed, 1 bath $2150
Unit C.....1 bed, 1 bath $2328
Unit D.....2 bed, 1 1/2 bath $2520
Unit E.....1 bed, 1 bath $2380
Unit F.....1 bed, 1 bath $2197
Unit G....1 bed, 1 bath $2328
Unit H.....1 bed, 1 bath $2328
All of the units have been renovated.
There are 8 parking spots.
NOI is at $188,878 running at 17% for expenses (Excluding property taxes)
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.
Unit A .....2 bed, 1 1/2 bath $2599
Unit B.....1 Bed, 1 bath $2150
Unit C.....1 bed, 1 bath $2328
Unit D.....2 bed, 1 1/2 bath $2520
Unit E.....1 bed, 1 bath $2380
Unit F.....1 bed, 1 bath $2197
Unit G....1 bed, 1 bath $2328
Unit H.....1 bed, 1 bath $2328
All of the units have been renovated.
There are 8 parking spots.
NOI is at $188,878 running at 17% for expenses (Excluding property taxes)
Location
State CA
County Los Angeles
Area 610 - Burbank
Nicole Van Parys & Gary Nesen
License Partners, Private Office Advisors | License ID: 01108944