1819 W Alameda AVE, Burbank, CA 91506
1819 W Alameda AVE, Burbank, CA 91506
1819 W Alameda AVE, Burbank, CA 91506
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The Warburton Team Brokered By EXp

The Warburton Team Brokered By EXp

+1(626) 630-2141
$7,850,000
Est. payment /mo
40 Beds
40 Baths
19,358 SqFt
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UPDATED:

Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Square Footage 19,358 sqft

Price per Sqft $405

MLS Listing ID 26865431

Bedrooms 40

HOA Y/N No

Year Built 1986

Lot Size 0.374 Acres

Property Description

1819 W. Alameda Ave is offered at a 6.20% cap rate and comprises 20 units in Burbank's Rancho Adjacent neighborhood, near the center of the city between Verdugo and Alameda Avenues. The unit mix includes 16 two-bedroom/two-bathroom units and 4 two-bedroom/one-bathroom units, 11 of which have already been remodeled giving new ownership a clear value-add roadmap: renovate the remaining nine units to bring them to market rent and capture the property's approximately 15% loss to lease by filling existing vacancies. Additional upside exists in monetizing the property's 40 parking spaces, which currently sit unrented.

Location

State CA

County Los Angeles

Area 610 - Burbank

Zoning BUR4*

Interior

Interior Features Ceiling Fan(s)

Heating Central

Fireplace No

Appliance Refrigerator, Dryer, Washer

Laundry Stacked

Exterior

Parking Features Underground

Total Parking Spaces 40

Building

Story 2

Entry Level Multi/Split

Level or Stories Multi/Split

New Construction No

Others

Senior Community No

Tax ID 2444033024

Special Listing Condition Standard

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Listed by Douglas Steinriede Dover Management Corp. #00284936

NEARBY SCHOOL & BUSINESS

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