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$ 4,500,000
Est. payment /mo
New
455 W Elm Burbank, CA 91506
0.33 Acres Lot
UPDATED:
Key Details
Property Type Apartment
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
MLS Listing ID SR26169083
HOA Y/N No
Year Built 1953
Lot Size 0.327 Acres
Property Sub-Type Apartment
Property Description
Amazing opportunity to acquire 455 W Elm Avenue, a 12-unit multifamily investment property located in Burbank's
desirable Rancho Adjacent submarket.
A Distinctive 12-Unit Multifamily Investment in the Heart of Burbank
The property consists of approximately 9,528 square feet across two well-maintained, Tudor-style residential buildings. The courtyard-style
configuration, mature landscaping, brick detailing, and distinctive architectural character contribute to an inviting residential environment and strong
curb appeal.
The property generates approximately $312,300 in annual gross income. Based on stabilized expenses of $117,749, the offering produces an estimated
stabilized net operating income of $194,551. At the $4,500,000 asking price, the property is offered at a 4.32% capitalization rate, $375,000 per unit, and
approximately $472.29 per square foot.
Current residential rents average approximately $2,123 per unit per month, excluding garage income, compared with a reported submarket median of
approximately $2,350 for comparable two-bedroom, one-bathroom units. This difference may provide an opportunity for future rental growth through
natural turnover, subject to applicable rent regulations, market conditions, unit condition, and buyer verification. Please do not disturb the tenants or walk on property.
desirable Rancho Adjacent submarket.
A Distinctive 12-Unit Multifamily Investment in the Heart of Burbank
The property consists of approximately 9,528 square feet across two well-maintained, Tudor-style residential buildings. The courtyard-style
configuration, mature landscaping, brick detailing, and distinctive architectural character contribute to an inviting residential environment and strong
curb appeal.
The property generates approximately $312,300 in annual gross income. Based on stabilized expenses of $117,749, the offering produces an estimated
stabilized net operating income of $194,551. At the $4,500,000 asking price, the property is offered at a 4.32% capitalization rate, $375,000 per unit, and
approximately $472.29 per square foot.
Current residential rents average approximately $2,123 per unit per month, excluding garage income, compared with a reported submarket median of
approximately $2,350 for comparable two-bedroom, one-bathroom units. This difference may provide an opportunity for future rental growth through
natural turnover, subject to applicable rent regulations, market conditions, unit condition, and buyer verification. Please do not disturb the tenants or walk on property.
Location
State CA
County Los Angeles
Area 610 - Burbank
Interior
Cooling Wall/Window Unit(s)
Fireplace No
Laundry Common Area, Laundry Room
Exterior
Garage Spaces 6.0
Garage Description 6.0
Pool None
Community Features Curbs, Storm Drain(s), Sidewalks
Total Parking Spaces 6
Private Pool No
Building
Lot Description 0-1 Unit/Acre
Story 2
Sewer Public Sewer
Water Public
New Construction No
Others
Senior Community No
Tax ID 5625022005
Acceptable Financing 1031 Exchange
Listing Terms 1031 Exchange
Special Listing Condition Standard
Listed by Scott Pinkerton Century 21 Masters 818-621-7732, DRE #01338387
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