$3,475,000
Burbank, CA 91501
MLS# 222000112
Status: Closed
18 beds | 18 baths | 1918 sqft
1 / 1
Property Description
Excellent investment opportunity: 10-unit apartment community located in the highly sought-after City of Burbank. Its unit mix consists of (2) one-bedroom, one-bath and (8) two-bedroom, two-bath units. Tenants enjoy the walkability and ease of access to shopping, dining, schools, parks, entertainment, public transportation, and freeways I-5 and SR-134. Carefully maintained by owner of 25 years with upgrades along the way. Recent improvements include new composition shingle roof, kitchen cabinets & appliances, hardwood floors, ceramic tile, and exterior paint. This building also features copper plumbing, newer 100+ gallon water heater, 2 parking spots per unit in gate-controlled underground parking with gated exit to alley. Exterior lighting and secured entrance to front doors provide added safety to tenants. Tenants also enjoy either a private balcony or patio, gas fireplace, central air, and attractive grounds. Coin-operated laundry machines provide additional income to owner. Gas and electric are separately metered.
Details
Maps
Status Change Info
Sold Price/SqFt: 1811.78
Pending Date: 2022-02-10
Closed Date: 2022-02-18
Closed Price: 3475000
Listing, Location and Property Info
Entry Date: 2022-01-08
List Price/SqFt: 1981.23
General Property Information
Common Walls: Yes
# Bedrooms: 18
Baths - Full: 18
Baths - Total: 18
Approx SqFt: 1918
Lot Acres: 0.18
Lot SqFt: 7716
Year Built: 1986
Listing Info
Total # of Units in Complex: 10
Property Info
View: No
Alley: Yes
Paved: Yes
Pool: No
Spa: No
Fireplace: Yes
Water Heater: Yes
Dwelling Total Floors: 2
# of Buildings: 1
Land Lease Type
Fee Simple: 1
Special Conditions
Standard: 1
Terms
Cash: 1
Conventional: 1
Possession
Close of Escrow: 1
Lot Description
Automatic Gate: 1
Financing
Cash: 1
Lot Location
Alley Access: 1
Other Property Features
Balcony: 1
Full Copper Plumbing: 1
Disclosures
Property As Is: 1
Units Information
Number of Units Leased: 8
Total Actual Rent: 15320
# of Ranges: 10
# Separate Electric Meters: 10
# Separate Gas Meters: 10
Laundry Locations
Community: 1
Laundry Area: 1
Construction
Frame & Stucco: 1
Levels
Two: 1
Entry Location
Ground Level w/Steps: 1
Appliances
Dishwasher: 1
Garbage Disposal: 1
Laundry Equipment
Own: 1
Cooking Appliances
Oven: 1
Bathroom Features
Shower & Tub: 1
Doors
Sliding Glass Door(s): 1
Exterior Construction
Hard Coat Stucco: 1
Security Safety
Automatic Gates: 1
Exterior Security Lights: 1
Foundation
Concrete Block: 1
Concrete Perimeter: 1
Concrete Slab: 1
Pier Jacks: 1
Pillar/Post/Pier: 1
Flooring
Carpet: 1
Hardwood: 1
Stone Tile: 1
Property/Land Information
Actual Total Rent $: 15320
Annual Gross Rent $: 183840
Cooling Type
Central A/C: 1
Electric: 1
Gas: 1
Heating Type
Central Furnace: 1
Heating Fuel
Natural Gas: 1
Fireplace Location
Living Room: 1
Fireplace Features
Other: 1
Fireplace Fuel
Gas: 1
Windows
Vertical Blinds: 1
Window Blinds: 1
Patio Features
Enclosed: 1
Water Heater Feature
60+ Gallon Tank: 1
Gas: 1
Hot Water Circulator: 1
Green Location
Walkability: 1
Parking Spaces/Information
Number of Remotes: 10
Total Garage Spaces: 20
Parking Type
Gated Underground: 1
Parking Features
Controlled Entrance: 1
HOA 1 Information
HOA: No
Association Fees Include
Water Paid: 1
Landlord Pays For
Gardner: 1
Water: 1
Other: 1
Tenant Pays
Electricity: 1
Gas: 1
Unit 1 Furnished
Unfurnished: 1
Unit 1 Information
Unit-1 # of Beds: 1
Unit-1 # of Baths: 1
Unit-1 Monthly Rent: 1500
Unit 2 Furnished
Unfurnished: 1
Unit 2 Information
Unit-2 # of Beds: 2
Unit-2 # of Baths: 2
Unit-2 Monthly Rent: 1500
Unit 3 Information
Unit-3 # of Beds: 2
Unit-3 # of Baths: 2
Unit-3 Monthly Rent: 1500
Unit 3 Furnished
Unfinished: 1
Unit 4 Information
Unit-4 # of Beds: 2
Unit-4 # of Baths: 2
Unit-4 Monthly Rent: 2000
Unit 4 Furnished
Unfurnished: 1
Unit 5 Information
Unit-5 # of Beds: 2
Unit-5 # of Baths: 2
Unit-5 Monthly Rent: 1400
Unit 5 Furnished
Unfinished: 1
Unit 6 Information
Unit-6 # of Beds: 2
Unit-6 # of Baths: 2
Unit-6 Monthly Rent: 2000
Unit 6 Furnished
Unfinished: 1
Unit 7 Information
Unit-7 # of Beds: 2
Unit-7 # of Baths: 2
Unit-7 Monthly Rent: 1500
Unit 7 Furnished
Unfinished: 1
Unit 8 Information
Unit-8 # of Beds: 2
Unit-8 # of Baths: 2
Unit-8 Monthly Rent: 1460
Unit 8 Furnished
Unfinished: 1
Unit 9 Information
Unit-9 # of Beds: 1
Unit-9 # of Baths: 1
Unit-9 Monthly Rent: 1060
Unit 9 Furnished
Unfinished: 1
Unit 10 Information
Unit-10 # of Beds: 2
Unit-10 # of Baths: 2
Unit-10 Monthly Rent: 1400
Unit 10 Furnished
Unfinished: 1
Listing Location and Property Info
Status: Closed
Entry Date: 2022-01-08
Listing Price: 3800000
Current Price: $3,475,000
Street #: 424
Direction: E
Street Name: Cedar
Suffix: Avenue
County: Los Angeles
State/Province: CA
Zip Code: 91501
APN/Tax ID: 5621024010
Area: 610 - Burbank
Subdivision/Tract Code: Custom
Country: US
Property Features
Land Lease Type: Fee Simple
Special Conditions: Standard
Terms: Cash; Conventional
Possession: Close of Escrow
Lot Description: Automatic Gate
Lot Location: Alley Access
Other Property Features: Balcony; Full Copper Plumbing
Disclosures: Property As Is
Construction: Frame & Stucco
Levels: Two
Entry Location: Ground Level w/Steps
Appliances: Dishwasher; Garbage Disposal
Laundry Equipment: Own
Cooking Appliances: Oven
Bathroom Features: Shower & Tub
Doors: Sliding Glass Door(s)
Exterior Construction: Hard Coat Stucco
Foundation: Concrete Block; Concrete Perimeter; Concrete Slab; Pier Jacks; Pillar/Post/Pier
Flooring: Carpet; Hardwood; Stone Tile
Cooling Type: Central A/C; Electric; Gas
Heating Type: Central Furnace
Heating Fuel: Natural Gas
Fireplace Location: Living Room
Fireplace Features: Other
Fireplace Fuel: Gas
Laundry Locations: Community; Laundry Area
Security Safety: Automatic Gates; Exterior Security Lights
Windows: Vertical Blinds; Window Blinds
Patio Features: Enclosed
Water Heater Feature: 60+ Gallon Tank; Gas; Hot Water Circulator
Green Location: Walkability
Parking Type: Gated Underground
Parking Features: Controlled Entrance
Association Fees Include: Water Paid
Landlord Pays For: Gardner; Water; Other
Tenant Pays: Electricity; Gas
Unit 1 Furnished: Unfurnished
Unit 2 Furnished: Unfurnished
Unit 3 Furnished: Unfinished
Unit 4 Furnished: Unfurnished
Unit 5 Furnished: Unfinished
Unit 6 Furnished: Unfinished
Unit 7 Furnished: Unfinished
Unit 8 Furnished: Unfinished
Unit 9 Furnished: Unfinished
Unit 10 Furnished: Unfinished
Financing: Cash
Listing Office: MCD Realty Inc.
Listing Agent: Tiffany Jennings |
Last Updated: April - 23 - 2024
Based on information from the CSMAR Multiple Listing as of [date the AOR/MLS data was obtained]. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.