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Listed by Steve Hovakimyan • City Center Realty Group
$ 5,975,000
Est. payment | /mo
9,841 SqFt
$ 5,975,000
Est. payment | /mo
9,841 SqFt
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 9,841 sqft
Price per Sqft $607
MLS Listing ID BB-24247060
Year Built 1951
Lot Size 0.409 Acres
Property Description
Stunning Multifamily Investment Opportunity in Burbank : 240-260 E. Providencia We are excited to present this meticulously renovated 15-unit multifamily property located in the heart of Burbank, renowned as the Media Capital of the World. This exceptional investment opportunity is situated in one of the region's most sought-after rental markets, offering strong returns and long-term growth potential. Property Highlights: Prime Location: Nestled on a 17,821-square-foot lot with 100 feet of street frontage across two parcels. Diverse Unit Mix: (12) One-bedroom, one-bathroom units (2) Two-bedroom, one-bathroom units (1) Two-bedroom, two-bathroom unit Bonus: A 153-square-foot storage room that can be converted into an office. Rentable Space: 8,202 square feet of updated, income-generating units. Attractive Financials: Enjoy an in-place 6.08% CAP rate, making this an outstanding investment for cash flow and value appreciation. This property represents the ideal combination of a renovated asset, diverse floor plans, and an exceptional location, making it a premier choice for savvy investors looking to capitalize on Burbank's ever-growing rental demand. Don't miss the chance to add this jewel to your portfolio!
Location
State CA
County Los Angeles
Zoning BUR4*
Interior
Heating Central
Cooling Central Air
Fireplaces Type None
Laundry Inside
Exterior
Parking Features Gated
Pool None
Community Features Sidewalks, Street Lights
Building
Lot Description Lot 10000-19999 Sqft
Sewer Public Sewer
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Darren Humphrey
Partner | Lic# DRE 01724424