324 E Santa Anita Avenue, Burbank, CA 91502
- $2,850,000
- 6,001
- SqFt
- List Price
- $2,850,000
- Status
- ACTIVE
- MLS#
- 226004193
- Year Built
- 1957
- Living Sq. Ft
- 6,001
- Lot Size
- 8,981
- Acres
- 0.21
- Days on Market
- 1
- Property Type
- Commercial
Property Description
Excellent investment opportunity in a highly desirable Burbank location just south of Glenoaks Blvd. This 8 unit, 6001 sq ft building sits on an 8978 sq ft lot with 2 -two bedroom/1 bathroom units and 6- one bedroom/1 bathroom units. All units have been recently renovated with wood flooring, upgraded bathrooms, and stainless steel appliances. This building offers a compelling opportunity for investors seeking a multifamily asset in one of San Fernando Valley's strongest rental markets. This property is convenient to shopping, dining, entertainment, major studios, etc. Ideally located near the heart of Burbank, where residents enjoy a walkable neighborhood with everyday conveniences just minutes away. This is ideal for an investor looking for stable income with potential for long term appreciation. The annual gross rental income is $176,748, with a robust cap rate at just under 5%, and a GRM of 16.12. Price per unit is $356,250, $475 per sq ft.
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Additional Information
- Attached Structure
- Detached
Listing courtesy of Listing Agent: Renee Wilkins-Virella (reneevirella@gmail.com) from Listing Office: Keller Williams Westlake Village.
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