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

18

Building size

17,722 sqft

Lot size

16,021 sqft

Year built

1959

Stories

2

Garage spaces

0

Pool

Community

Status

Active

Days on market

0

MLS #

248783129

About this property

Located on the southwest corner of Burbank Boulevard and Corteen Place in the highly desirable Valley Village neighborhood, 12344 Burbank Boulevard presents an outstanding opportunity to acquire a true pride-of-ownership apartment community featuring spacious units, an attractive unit mix, and substantial capital improvements. Built in 1960, the property consists of approximately 17,722 square feet Of building area on an approximately 16,016-square-foot lot. The well-balanced unit mix includes seven (7) one-bedroom/one- bathroom units, one (1) two-bedroom/one-bathroom unit, five (5) two-bedroom/two-bathroom units, and five (5) three-bedroom/ two-bathroom units. The generous layouts, including a desirable selection of two- and three-bedroom residences, appeal to a broad range of renters seeking additional space and functionality. The property reflects a strong commitment to maintenance and improvements, with 16 of the 18 units completely remodeled. Additional upgrades include copper plumbing, upgraded electrical subpanels throughout, a completed earthquake soft-story retrofit, newer windows, and a roof approximately three years old. The swimming pool has also been redone, while an on-site laundry facility provides added convenience for residents. Adding another dimension to the investment, seven (7) of the 18 units are currently operated under an alternative rental model, offering prospective ownership nexibility in evaluating management approaches and future leasing strategies, subject to applicable regulations and lender requirements.

Location

12344 Burbank

Valley Village, Los Angeles, CA, 91607