240 E Providencia AVE Burbank, CA 91502
9,841 SqFt
UPDATED:
12/14/2024 09:38 PM
Key Details
Property Type Condo
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Square Footage 9,841 sqft
Price per Sqft $607
MLS Listing ID BB24247060
HOA Y/N No
Year Built 1951
Lot Size 0.409 Acres
Acres 0.4091
Property Description
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 6.19% 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
Area 610 - Burbank
Zoning BUR4*
Interior
Heating Central
Cooling Central Air
Fireplaces Type None
Laundry Inside
Exterior
Pool None
Community Features Sidewalks, Street Lights
Private Pool No
Building
Lot Description Lot 10000-19999 Sqft
Story 2
Sewer Public Sewer
Water Public
New Construction No
Others
Senior Community No
Special Listing Condition Standard
Confidential INFO
TERMS Cash,Cash To New Loan
LIST AGRMT Exclusive Right To Sell
LIST SERVICE Full Service
PRIVATE REMARKS 240- 260 E. Providencia Ave, (TWO APNs)
SHOW CONTACT TYPE Agent,See Remarks
SHOW INSTRUCTIONS Drive by only, offer subject to inspection
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