2001 Peyton Avenue
Burbank, CA 91504
Active for $5,475,000
Beds: N/A Baths: N/A Structure Size: N/A sqft Lot Size: 19,166 sqft
| MLS | 24365833 |
| Year Built | 1960 |
| Property Type | |
| County | Los Angeles |
| Status | Active |
| Active | $5,475,000 |
| Structure Size | N/A sqft |
| Lot Size | 19,166 sqft |
| Beds | N/A |
| Baths | N/A |
Description
Huge 500k Price Reduction! This is an excellent opportunity to invest in a rare non-rent controlled 20-unit building (85% occupied) in the prime Burbank area, priced at only $273k per door for renovated units. The property boasts an incredible current 6% Cap Rate and 12.1 GRM with upside potential to reach a 6.5% cap rate and 11.3 GRM on proforma. 16 fully renovated units with permits and 2 partially remodeled units offer promising long-term value for any forward-thinking investor. Additionally, the large lot size of approximately 19,166 SF provides ample parking spaces as well as potential for future upside by adding multiple ADUs (Accessory Dwelling Units). Non-LA-City rent-controlled asset allowing significant 8.8% annual rent increases (5%+CPI) for future upside. 16 units have been completely renovated with permits (3 vacant) and boast a high-end aesthetic with new cabinets, flooring, modern lighting, new bathrooms, stainless steel appliances, as well as major exterior capital improvements. Amenities include a renovated courtyard with seating areas and a fire pit, on-site laundry facilities, and parking for convenience. Prime Burbank location just minutes away from media giants such as Warner Bros Studios, Walt Disney Studios, and Burbank Town Center Shopping Mall.
Listing information courtesy of: Armin Soleimani, Global Platinum Properties, Inc. . *Based on information from the Association of REALTORS/Multiple Listing as of 05/05/2024 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.
Location
Contact a Local Realtor®
Hamlet Danielyan
REALTOR®
Direct: 818.355.4253
Email: Email Me
DRE: 01918170
DRE #01873088
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