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$ 4,500,000
Est. payment | /mo
24 Beds
12 Baths
0.33 Acres Lot
$ 4,500,000
Est. payment | /mo
24 Beds
12 Baths
0.33 Acres Lot
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID SR26169083
Bedrooms 24
Lot Size 0.327 Acres
Property Sub-Type Res Income 2-4 Units
Property Description
Amazing opportunity to acquire 455 W Elm Avenue, a 12-unit multifamily investment property located in Burbanks desirable Rancho Adjacent submarket. A Distinctive 12-Unit Multifamily Investment in the Heart of Burbank The property consists of approximately 9,528 square feet across two well-maintained, Tudor-style residential buildings. The courtyard-style configuration, mature landscaping, brick detailing, and distinctive architectural character contribute to an inviting residential environment and strong curb appeal. The property generates approximately $312,300 in annual gross income. Based on stabilized expenses of $117,749, the offering produces an estimated stabilized net operating income of $194,551. At the $4,500,000 asking price, the property is offered at a 4.32% capitalization rate, $375,000 per unit, and approximately $472.29 per square foot. Current residential rents average approximately $2,123 per unit per month, excluding garage income, compared with a reported submarket median of approximately $2,350 for comparable two-bedroom, one-bathroom units. This difference may provide an opportunity for future rental growth through natural turnover, subject to applicable rent regulations, market conditions, unit condition, and buyer verification. Please do not disturb the tenants or walk on property.
Location
State CA
County Los Angeles
Zoning Assessor
Direction S Victory N 134
Interior
Cooling Wall/Window
Fireplace No
Exterior
View Y/N No
Building
Story 2
Level or Stories 2
Others
Senior Community No
Tax ID 5625022005
Acceptable Financing Exchange
Listing Terms Exchange
Listed by Scott Pinkerton, DRE#01338387 Century 21 Masters
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