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Diego Magdaleno

diego@1visionproperties.com +1(714) 676-7271

$3,190,000

Est. payment - /mo

10 Beds

8 Baths

6,001 SqFt

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UPDATED:

Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Square Footage 6,001 sqft

Price per Sqft $531

MLS Listing ID 25548145

Bedrooms 10

HOA Y/N No

Year Built 1957

Lot Size 8,977 Sqft

Property Description

The E Santa Anita Ave Residences are an 8-unit apartment building located in a prime Burbank location just south of Glenoaks Blvd. The property has a highly desirable unit mix of two 2 BR + 1 Bath and six 1 BR + 1 Bath units. This two-story building is approximately 6,001 SF and sits on a large 8,978 SF lot. Seven of the eight units have received tasteful renovations with new stainless steel appliances, wood floors, and new vanities in the bathrooms. Current ownership has also completed several other capital improvements, including updating the electrical system. The Santa Anita Ave Residences were constructed in 1957 and are subject to AB 1482 rent control measures, allowing new ownership to raise rents approximately 8% each year. There is also a significant amount of upside in the rents, creating a quintessential value-add opportunity for new ownership. There are 8 onsite parking spots, with one of those spots being tandem. There is a garage at the rear of the property that can potentially be converted into an ADU unit. This is a wonderful opportunity to purchase a trophy multi-family asset in a prime Burbank location.

Location

State CA

County Los Angeles

Area 610 - Burbank

Zoning BUR4*

Interior

Heating Central

Cooling Central Air

Fireplace No

Appliance Microwave

Exterior

Parking Features Door-Multi, Garage

Total Parking Spaces 8

Building

Story 2

Entry Level Two

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 2453029008

Special Listing Condition Standard

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Listed by Errol Spiro Miller & Desatnik Realty Co.

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324 E Santa Anita AVE Burbank, CA 91502