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Diego Magdaleno

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

$3,895,000

Est. payment - /mo

14 Beds

13 Baths

9,306 SqFt

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UPDATED:

Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Square Footage 9,306 sqft

Price per Sqft $418

MLS Listing ID 25610503

Bedrooms 14

HOA Y/N No

Year Built 1963

Lot Size 10,153 Sqft

Property Description

Situated near the popular Magnolia Park neighborhood, the property occupies a corner lot within a quiet area surrounded by mostly single-family residences. Due to the fact that the property is subject only to Burbank's local rent ordinance, a new owner may be able to recapture the rent upside and keep pace with improving rent growth via higher allowable rent increases, when compared with other assets subject to Los Angeles rent control. The current owners have completed all seismic retrofit repairs (Buyer to verify), saving a new investor from an otherwise costly maintenance expense. The property also offers investors a strong supplemental revenue stream via its landlord-owned laundry facilities. Dubbed the "Media Capital of the World," the city of Burbank is home to a vast contingent of entertainment employers, which allows tenants convenient commutes to studios. Notable media production campuses in and around Burbank include Disney Studios, Walt Disney Imagineering, Warner Bros. Studios, Universal Studios, Nickelodeon Studios, Cartoon Network, and DreamWorks Animation.

Location

State CA

County Los Angeles

Area 610 - Burbank

Zoning BUR4*

Interior

Fireplace No

Exterior

Parking Features Assigned

Total Parking Spaces 14

Building

Story 2

Entry Level Two

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 2436011001

Special Listing Condition Standard

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Listed by Roderick 'Rick' Raymundo Marcus & Millichap

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1799 N Hollywood WAY Burbank, CA 91505