CA > Burbank
Burbank, CA 91504,2001 Peyton Ave
Burbank, CA 91504,2001 Peyton Ave
Burbank, CA 91504,2001 Peyton Ave
REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
Wed
25
Dec
Thu
26
Dec
Fri
27
Dec
Shawn Kormondy

Shawn Kormondy

+1(323) 638-7567
$5,995,000
Est. payment /mo
20 Baths
9,232 SqFt
Save

UPDATED:

09/23/2024 11:57 PM

Key Details

Property Type Multi-Family

Sub Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 9,232 sqft

Price per Sqft $649

MLS Listing ID 24-436685

Style Art Deco

Year Built 1960

Lot Size 0.440 Acres

Acres 0.3714

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.

Location

State CA

County Los Angeles

Area Burbank

Zoning BUR4*

Rooms

Other Rooms Other

Interior

Heating Wall

Cooling Ceiling Fan

Flooring Laminate

Equipment Refrigerator, Range/Oven

Exterior

Parking Features Assigned, Uncovered

Garage Spaces 20.0

Building

Story 2

Architectural Style Art Deco

Level or Stories Two

Others

Special Listing Condition Standard

Read Less Info
TheMLS (CLAW)
The multiple listings information is provided by The MLSTM/CLAW from a copyrighted compilation of listings. The compilation of listings and each individual listing are ©2024 The MLSTM/CLAW. All Rights Reserved.

The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified.

Listed by Global Platinum Properties, Inc.

GET MORE INFORMATION

Shawn Kormondy

+1(323) 638-7567

Agent | License ID: 01451888

Agent License ID: 01451888

Name

Phone*

Message

By registering you agree to our Terms of Service & Privacy Policy. Consent is not a condition of buying a property, goods, or services.