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$ 5,600,000
Est. payment /mo
Active
240 E Providencia Avenue Burbank, CA 91502
9,841 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 9,841 sqft
Price per Sqft $569
MLS Listing ID CL25619085
HOA Y/N No
Year Built 1951
Lot Size 0.409 Acres
Acres 0.41
Property Sub-Type Other
Property Description
We are pleased to present a 15-unit apartment property in the highly desirable city of Burbank, California. Built in 1951 and fully renovated in 2023, the property features twelve (12) one-bedroom/one-bath units, two (2) two-bedroom/one-bath units, and one (1) two-bedroom/two-bath unit, totaling approximately 9,841 square feet on a 17,821 square foot lot. This turnkey property offers all major systems brand new, including electrical, plumbing, and roof, along with modern interiors featuring new countertops, cabinets, flooring, recessed lighting, washer/dryer, and central A/C and heat. The property delivers a 5.64% Day 1 cap rate, providing immediate income for investors. Located just south of Glenoaks Blvd and near Downtown Burbank, residents enjoy convenient access to shopping, dining, and entertainment at Burbank Town Center, AMC Theatres, and San Fernando Boulevard, as well as proximity to major employers such as Disney, Warner Bros., and Nickelodeon Animation. With excellent connectivity to the I-5 Freeway, Magnolia Blvd, and Metrolink stations, this property is a rare opportunity to acquire a well-located, turnkey multifamily asset in one of Los Angeles County's most stable rental markets. Strong fundamentals, a desirable unit mix, and consistent tenant demand make it an att
Location
State CA
County Los Angeles
Zoning BUR4
Interior
Heating Other
Cooling Central Air
Fireplace No
Building
New Construction No
Others
Tax ID 2453031008
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Listed by Michael Sterman • Marcus & Millichap