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Listed by Steve Hovakimyan • City Center Realty Group
$ 5,975,000
Est. payment | /mo
9,841 SqFt
$ 5,975,000
Est. payment | /mo
9,841 SqFt
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 9,841 sqft
Price per Sqft $607
MLS Listing ID CRBB24247060
HOA Y/N No
Originating Board Datashare California Regional
Year Built 1951
Lot Size 0.409 Acres
Property Description
Stunning Multifamily Investment Opportunity in Burbank : 240-260 E. Providencia 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
Interior
Heating Other
Cooling Central Air
Fireplace No
Laundry Inside
Building
Water Public
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Melanie Peterson-Katz
Partner | Lic# 00890767