1/2001 Peyton Avenue

Burbank CA 91504

9232 sq. ft.

19166 sq. ft.

Other

Currently for sale - view listing

Overview

This is an excellent opportunity to invest in a rare non-rent controlled 20-unit building in the prime Burbank area, priced at only $287k per door for renovated units. The property boasts an incredible current cap rate of 5.1% and a GRM of 13.8 with upside potential to reach a 6.1% cap rate and a 11.9 GRM on proforma. 12 fully renovated vacancies with permits offering substantial value-add opportunities for any forward-thinking investor. Additionally, the large lot size of approximately 19,166 SF provides ample parking spaces as well as potential for future upside by adding multiple ADUs (Accessory Dwelling Units). Non-LA-City rent-controlled asset allowing significant 8.8% annual rent increases (5%+CPI) for future upside. All vacancies have been completely renovated with permits 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 just minutes away from media giants such as Warner Bros Studios, Walt Disney Studios, and Burbank Town Center Shopping Mall.

Features

20 bathrooms

20 carspaces

9232 sq. ft. floor area

19166 sq. ft. lot size

Other

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