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$3,300,000
Est. payment /mo
6,001 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 6,001 sqft
Price per Sqft $549
MLS Listing ID CL25548145
HOA Y/N No
Year Built 1957
Lot Size 8,978 Sqft
Acres 0.21
Property Sub-Type Other
Property Description
The E Santa Anita Ave Residences are an 8-unit apartment building located in a prime Burbank location just south of Glenoaks Blvd. The property has a highly desirable unit mix of two 2 BR + 1 Bath and six 1 BR + 1 Bath units. This two-story building is approximately 6,001 SF and sits on a large 8,978 SF lot. Seven of the eight units have received tasteful renovations with new stainless steel appliances, wood floors, and new vanities in the bathrooms. Current ownership has also completed several other capital improvements, including updating the electrical system. The Santa Anita Ave Residences were constructed in 1957 and are subject to AB 1482 rent control measures, allowing new ownership to raise rents approximately 8% each year. There is also a significant amount of upside in the rents, creating a quintessential value-add opportunity for new ownership. There are 8 onsite parking spots, with one of those spots being tandem. There is a garage at the rear of the property that can potentially be converted into an ADU unit. This is a wonderful opportunity to purchase a trophy multi-family asset in a prime Burbank location.
Location
State CA
County Los Angeles
Zoning BUR4
Interior
Heating Other
Cooling Central Air
Fireplace No
Building
New Construction No
Others
Tax ID 2453029008
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Listed by Errol Spiro • Miller & Desatnik Realty Co.
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