240 East Providencia Avenue

Burbank CA 91502

9841 sq. ft.

17821 sq. ft.

Other

Last sold for $4,950,000

Michael Sterman, last sold this property on 11 March 2026 after 116 days on market.

Overview

We are pleased to present a 15-unit apartment property in the highly desirable city of Burbank, California. Built in 1951 and fully renovated in 2023, the property features twelve (12) one-bedroom/one-bath units, two (2) two-bedroom/one-bath units, and one (1) two-bedroom/two-bath unit, totaling approximately 9,841 square feet on a 17,821 square foot lot. This turnkey property offers all major systems brand new, including electrical, plumbing, and roof, along with modern interiors featuring new countertops, cabinets, flooring, recessed lighting, washer/dryer, and central A/C and heat. The property delivers a 5.89% Day 1 cap rate, providing immediate income for investors. Located just south of Glenoaks Blvd and near Downtown Burbank, residents enjoy convenient access to shopping, dining, and entertainment at Burbank Town Center, AMC Theatres, and San Fernando Boulevard, as well as proximity to major employers such as Disney, Warner Bros., and Nickelodeon Animation. With excellent connectivity to the I-5 Freeway, Magnolia Blvd, and Metrolink stations, this property is a rare opportunity to acquire a well-located, turnkey multifamily asset in one of Los Angeles County's most stable rental markets. Strong fundamentals, a desirable unit mix, and consistent tenant demand make it an attractive investment with upside through rent optimization.

Features

18 bedrooms

16 bathrooms

17 carspaces

9841 sq. ft. floor area

17821 sq. ft. lot size

Other

Estimated Value

We need at least 3 similar 18 bedroom other properties sold in Burbank over the last 12 months.

Property history for 240 East Providencia Avenue

2026

Sold

$4,950,000

11 Mar 2026 by Michael Sterman, of Marcus & Millichap

2022

Sold

Undisclosed

18 Aug 2022 by Cindy Hill, of Keller Williams Encino-Sherman Oaks

Happy sellers in Burbank

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