Active

240 E Providencia Avenue

Burbank CA, 91502

$6,700,000


$680.83 per sqft

Active

9,841 sqft

Condo

Built in 1951

Listed by Cindy Hill with Equity Union 818-989-2000

We are proud to represent this completely renovated 15 unit apartment building in an excellent rental pocket of Burbank.
The property has an excellent unit mix consisting of (12) one bedroom one bath units, (2) two bedroom one bath unit, and (1) two bedroom two bath unit.
The property is situated on a 17,821 square foot lot with 100 feet of frontage on two separate assessor parcel numbers. There is an additional 153 square foot storage room that can be used as an office.
The property has been completed renovated and the renovations include new plumbing, new roof, new electrical wiring and sub panels, new heating and a/c system with new ducting, new kitchen cabinets and countertops, new bathrooms, recessed lighting, and new interior and exterior paint. All units have washer and dryers.
The property is completely turn key and it is at an in place 5 cap rate with upside on existing rents.
The property is located in Burbank, which is a highly desirable rental market and is known as the media capital of the world. It is home to Disney Studios, Warner Brothers, and NBC. The city has over 80 restaurants, 30 movie screens, and 200 stores; its residents enjoy top ranked schools, easy access to the 5 and 134 freeways, and close proximity to the Burbank Metro Link.
The property is separately metered for gas and electricity.

SR24072463

MLS ID

April 11, 2024

Listed

May 25, 2024

Updated

Map

240 E Providencia Avenue
Burbank CA, 91502

Interior Features

Total Stories

2


Appliances

Dryer, Washer


Fireplace

No


Cooling

No


Heating

No

Exterior/Building Features

Lot Size

0.41 Acres


Sewer

Public Sewer

Other Property Details

Area Name

610 - Burbank


Days on Market

11


Garage

No


Parking Total

0


View

No


County

Los Angeles


Water Source

Public


Pool

No


Pool Features

None


Zoning

BUR4*


Buyer Agency Compensation

2%

Listing Contact: 818-989-2000 

Based on information from the California Regional Multiple Listing Service (CRMLS) as of 5/25/2024. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.

©2024 California Regional Multiple Listing Service (CRMLS) all rights reserved.

Data last updated on 5/25/2024 at 2:39 AM UTC

 

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