Property Description
This is an excellent opportunity to invest in a rare non-rent-controlled 20-unit building (95% occupied) in the prime Burbank area, priced at only $299k per door for renovated units. The property boasts an incredible current 5.25% Cap Rate and 13.2 GRM with upside potential to reach a 5.7% cap rate and 12.4 GRM on proforma. 16 fully renovated units with permits and 2 partially remodeled units offer promising long-term value for any forward-thinking investor. Additionally, the large lot size of approximately 19,166 SF provides ample parking spaces, and there is potential for future upside by adding multiple ADUs (Accessory Dwelling Units).Non-LA-City rent-controlled asset allowing significant 8.9% annual rent increases (5%+CPI) for future upside. 16 units have been completely renovated with permits (1 vacant) and boast a high-end aesthetic with new cabinets, flooring, modern lighting, new bathrooms, stainless steel appliances, as well as major exterior capital improvements. Amenities include a renovated courtyard with seating areas and a fire pit, on-site laundry facilities, and parking for convenience. Prime Burbank location is just minutes away from media giants such as Warner Bros Studios, Walt Disney studios, and Burbank Town Center Shopping Mall.
Features
: No
: Wall Furnace
: No
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: No
: 20
: Assigned, Uncovered
Address Map
U.S.
California
Los Angeles
Burbank
91504
2001 Peyton Avenue
0
W119° 40' 12.9''
N34° 11' 48.5''
MLS Addon
$0
9,232 Sqft
: No
: No
5.25
8
From Glenoaks Blvd., turn south onto Grisimer Ave., then turn West (Right) onto Peyton Ave. The subject property will be on the right (mid-block).
: No
2

Residential Income For Sale Burbank

2001 Peyton Avenue, Burbank, Los Angeles, California, 91504

9,232 Sqft
Visits : 7 in 14 days
$5,995,000
Listing ID #24436685
Basic Details
Property Type : Residential Income
Listing Type : For Sale
Listing ID : 24436685
Price : $5,995,000
Square Footage : 9,232 Sqft
Year Built : 1960
Lot Area : 19,166 Acre
Status : Active
Agent info
Damian M. Ramirez
Damian M. Ramirez
  • 01974515
  • 1213238
  • PWDAMRA
Broker
Broker
A level-headed and composed professional.  Combat veteran and experienced CEO with the ability to train and motivate staff to meet challenging performance targets and consistently satisfy clients with high-quality service.
Contact Agent
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