Deal numbers

A cap rate estimate is not available for this property yet. Ask Alex for a pro forma using comparable rent data.

Property details

Type

Apartment

Bedrooms

12

Building size

9,528 sqft

Lot size

14,251 sqft

Year built

1953

Stories

2

Garage spaces

6

Cooling

Wall/Window Unit(s)

Pool

None

Status

Active

Days on market

63

MLS #

245495964

About this property

Amazing opportunity to acquire 455-457 W Elm Avenue, a 12-unit multifamily investment property located in Burbank’s 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

- 457 W Elm

Burbank, Los Angeles, CA, 91506