324 E Santa Anita Avenue, Burbank, CA 91502
sale
$2,925,000
|
Other
Courtesy Of Keller WIlliams Westlake Village
The E. Santa Anita Ave Residences present a rare value-add opportunity in one of Burbank's most desirable rental corridors, just south of Glenoaks Blvd. This 8-unit, 6,001 sq. ft. building sits on an oversized 8,978 sq. ft. lot and features an efficient mix of two 2BR/1BA units and six 1BR/1BA units. Units have already been modernized with stainless-steel appliances, wood flooring, and upgraded bathroom vanities. Ownership has also completed major system upgrades, including electrical, reducing near-term maintenance exposure for a new investor. Built in 1957, the property is subject to AB 1482, allowing approximately 8% annual rent increases. Eight parking spaces (including tandem), and a rear garage with ADU conversion potential, this asset offers multiple avenues for forced appreciation. This is an exceptional chance to acquire a trophy multifamily asset in a prime, low-vacancy Burbank neighborhood with strong long-term fundamentals. Unit A .....2 bed, 1 1/2 bath $2599 Unit B.....1 Bed, 1 bath $2150 Unit C.....1 bed, 1 bath $2328 Unit D.....2 bed, 1 1/2 bath $2520 Unit E.....1 bed, 1 bath $2380 Unit F.....1 bed, 1 bath $2197 Unit G....1 bed, 1 bath $2328 Unit H.....1 bed, 1 bath $2328 All of the units have been renovated. There are 8 parking spots. NOI is at $188,878 running at 17% for expenses (Excluding property taxes)
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Property Features
- Age: Over 50 Years Old
- Floors: 2
- MLSID: 225005776
- Rooms: Bathroom 8
- Rooms: Bathroom 9
- Rooms: Bathroom 6
- Rooms: Bathroom 7
- Rooms: Bathroom 10
- Rooms: Bathroom 4
- Rooms: Bathroom 5
- Rooms: Bathroom 2
- Rooms: Bathroom 3
- Rooms: Bathroom 1
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