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Key Details
Sold Price $1,455,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 3,304 sqft
Price per Sqft $440
MLS Listing ID CV21183502
Sold Date 12/10/21
HOA Y/N No
Year Built 1932
Lot Size 6,298 Sqft
Acres 0.1446
Property Description
We are proud to exclusively present the opportunity to acquire 1219 & 1221 S. Lake Street, a 5-unit multifamily investment property located in Burbank, California. Same ownership for 30 years and there is over 36% rental upside. Built in 1932, the property sits on 0.14 acre and has a building size of approximately 3,304 square feet. The building is comprised of two buildings that consist of (1) studio/one-bathroom unit, (1) one-bedroom/one-bathroom unit, (1) one-bedroom/two-bathroom townhouse style unit, (1) two-bedroom/two-bathroom unit and (1) three-bedroom/one-bathroom unit. There is an on-site laundry facility, one unit has a private enclosed backyard and one unit has a two-car garage. All units are individually metered for gas and electricity. The apartment is ideally situated near Downtown Burbank and with easy access to the 5 Golden State and the 134 Ventura Freeway. The property is in close proximity to several major employers including IKEA, Home Depot, and Ralphs, as well as recreational parks such as the Los Angeles Zoo, Bird Sanctuary, and the Griffith Observatory. The property provides a convenient living opportunity that is less than two miles from the Burbank Metro Link for easy commute to Central Los Angeles or the soon-to-be-international Hollywood Burbank Airport. The City of Burbank is a highly desirable rental market and is known as the media capital of the world. It is home to Disney Studios, Warner Brothers, and the Burbank Studios. With a walk score of 70, the property is in one of the best school districts in Los Angeles County and minutes’ drive from New York Film Academy and Woodbury University.
Location
State CA
County Los Angeles
Area 610 - Burbank
Rooms
Ensuite Laundry CommonArea
Interior
Laundry Location CommonArea
Fireplace No
Laundry CommonArea
Exterior
Garage Spaces 2.0
Garage Description 2.0
Pool None
Community Features Valley
Total Parking Spaces 2
Private Pool No
Building
Lot Description FrontYard, RectangularLot
Sewer PublicSewer
Water Public
New Construction No
Others
Senior Community No
Tax ID 5625013007
Energy Description 1080.0
Acceptable Financing Cash, CashtoNewLoan
Listing Terms Cash, CashtoNewLoan
Financing Cash
Special Listing Condition Standard
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Bought with Michael Shaar • Re/Max Tri-City Realty
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