2001 Peyton AvenueBurbank, California91504United States
$5,475,000
Residential Income
1 of 20
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Huge 500k Price Reduction! This is an excellent opportunity to invest in a rare non-rent controlled 20-unit building (85% occupied) in the prime Burbank area, priced at only $273k per door for renovated units. The property boasts an incredible...
$5,475,000
9,232
Sq Ft.
Interior
.44 Acres
Exterior
Residential Income
Property type
1960
Year Built
24365833
Web Id
24365833
MLS ID
Burbank Unified
School District
54
days ago
About 2001 Peyton Avenue
Huge 500k Price Reduction! This is an excellent opportunity to invest in a rare non-rent controlled 20-unit building (85% occupied) in the prime Burbank area, priced at only $273k per door for renovated units. The property boasts an incredible current 6% Cap Rate and 12.1 GRM with upside potential to reach a 6.5% cap rate and 11.3 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 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. 16 units have been completely renovated with permits (3 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 just minutes away from media giants such as Warner Bros Studios, Walt Disney Studios, and Burbank Town Center Shopping Mall.
Listing Courtesy of Armin Soleimani, Global Platinum Properties, Inc., 01846872, Julio Ruiz, Global Platinum Properties, Inc., 01911261, Active
The listing brokers offer of compensation is made only to participants of the MLS where the listing is filed.
Amenities
Refrigerator
features
cooling
Propane Heating
Parking
Assigned Parking
PROPERTY INFORMATION
Appliances
Refrigerator
Heating
WallFurnace
Parking Description
Assigned, Uncovered
INTERIOR
Flooring
Laminate
ADDITIONAL INFORMATION
Number of Units
20
Listing Courtesy of Global Platinum Properties, Inc.