2001 Peyton Avenue, Burbank, CA 91504
-
Listed Price :
$5,995,000
-
Beds :
0
-
Baths :
20
-
Property Size :
9,232 sqft
-
Year Built :
1960
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 1 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.
Interior Features
| Bathroom Information |
| Bathrooms |
20 |
| Flooring Information |
| Material |
Laminate |
Listing Information
| Address |
2001 Peyton Avenue |
| City |
Burbank |
| State |
CA |
| Zip |
91504 |
| County |
Los Angeles |
| Listing Agent |
Armin Soleimani DRE #01846872 |
| Co-Listing Agent |
Julio Ruiz DRE #01911261 |
| Courtesy Of |
Global Platinum Properties, Inc. |
| List Price |
$5,995,000 |
| Status |
Active |
| Type |
Residential Income |
| Structure Size |
9,232 |
| Lot Size |
19,166 |
| Year Built |
1960 |
Listing information courtesy of: Armin Soleimani, Julio Ruiz, Global Platinum Properties, Inc.. *Based on information from the Association of REALTORS/Multiple Listing as of Sep 30th, 2024 at 5:54 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
