CA > Burbank
Burbank, CA 91504,1814 Grismer Ave
Burbank, CA 91504,1814 Grismer Ave
Burbank, CA 91504,1814 Grismer Ave
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Shawn Kormondy

Shawn Kormondy

+1(323) 638-7567
$5,500,000
Est. payment /mo
14 Beds
16 Baths
9,906 SqFt
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UPDATED:

11/12/2024 07:01 AM

Key Details

Property Type Multi-Family

Sub Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 9,906 sqft

Price per Sqft $555

MLS Listing ID 24-460053

Bedrooms 14

Year Built 1961

Lot Size 10,112 Sqft

Acres 0.2322

Property Description

The building is exempt from Los Angeles Rent Control and therefore an investor can benefit from higher allowable annual rent increases through AB 1482. Only two units have been given rent increases within the past year, potentially allowing a new owner to improve the property's cashflow almost immediately (Buyer to verify). Situated within a mile of both the Burbank Town Center and the Empire Center, this property grants tenants convenient access to numerous major national retailers and an extensive slate of entertainment and dining options. Stores such as Costco, Target, Walmart, Nordstrom Rack, Macy's, Cost Plus World Market, and Best Buy provide local residents a wide array of local shopping choices. Dubbed the "Media Capital of the World," the city of Burbank is home to a vast contingent of entertainment employers, which allows tenants convenient commutes to studios. Notable media production campuses in and around Burbank include Disney Studios, Walt Disney Imagineering, Warner Bros. Studios, Universal Studios, Nickelodeon Studios, Cartoon Network, and Dreamworks Animation.

Location

State CA

County Los Angeles

Area Burbank

Zoning BUR4*

Rooms

Other Rooms None

Interior

Heating Other

Cooling Other

Equipment Other

Exterior

Parking Features Assigned

Building

Story 2

Level or Stories Two

Others

Special Listing Condition Standard

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Listed by Marcus & Millichap

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Shawn Kormondy

+1(323) 638-7567

Agent | License ID: 01451888

Agent License ID: 01451888

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