231 Burbank Boulevard

Description

We are pleased to present for the very 1st time ever, the Burbank Terrace Condos. Being offered by the original developer and owner since its inception in 2006, the property can widely be considered one of the nicest assets to be built within the city. Initially developed as condominiums, the level of construction and attention to detail is of high caliber. There is currently a $1.995M assumable loan at 3.45% This unique opportunity to obtain capital at over 50% discount from the going interest rates will significantly improve cash flow and shelter against rising inflation. For additional cashflow stream, a utility billback system can easily be incorporated as well. Boasting massive unit mixes and modern luxuries such as in-unit washer dryers, fireplaces, wet bars, gated subterranean parking, intercom controlled access, and priceless views of the Verdugo Mountains, the Terraces are With a WalkScore® of 92, a "Walker's Paradise" tenant are within reach of all major shops, dining, and service options within the city. Across the street from the largest and most touted Burbank High School, vacancy has been and will continue to be historically nonexistent. As Burbank tenants and landlords alike wait patiently, the proposed old lkea site development which will be only steps away from the subject property is said to be a game changer and transformative almost to the likes of Americana and Glendale. This once-in-a-lifetime acquisition opportunity allows for multiple investment strategies. The asset is essentially rent control proof since the units are individually parceled for a potential condo sell-out exit strategy. Offering memorandum available upon request.

Listing information courtesy of: Levon Alexanian, Keller Williams World Media Center . *Based on information from the Association of REALTORS/Multiple Listing as of 05/18/2024 and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. 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.