Active

2001 Peyton Avenue

Burbank CA, 91504

$5,595,000


$606.04 per sqft

Active

20 Baths

9,232 sqft

Residential

Built in 1960

Listed by Armin Soleimani with Global Platinum Properties, Inc. 424-394-1030

Huge 400k Price Reduction! This is an excellent opportunity to invest in a rare non-rent controlled 20-unit building (85% occupied) in the prime Burbank area, priced at only $279k per door for renovated units. The property boasts an incredible current 5.80% Cap Rate and 12.3 GRM with upside potential to reach a 6.3% cap rate and 11.6 GRM on proforma. 16 fully renovated units with permits and 2 partially remodeled units offer promising long-term value for any forward-thinking investor. Additionally, the large lot size of approximately 19,166 SF provides ample parking spaces as well as potential for future upside by adding multiple ADUs (Accessory Dwelling Units). Non-LA-City rent-controlled asset allowing significant 8.8% annual rent increases (5%+CPI) for future upside. 16 units have been completely renovated with permits (3 vacant) and boast a high-end aesthetic with new cabinets, flooring, modern lighting, new bathrooms, stainless steel appliances, as well as major exterior capital improvements. Amenities include a renovated courtyard with seating areas and a fire pit, on-site laundry facilities, and parking for convenience. Prime Burbank location just minutes away from media giants such as Warner Bros Studios, Walt Disney Studios, and Burbank Town Center Shopping Mall.

24365833

MLS ID

March 6, 2024

Listed

May 25, 2024

Updated

Map

2001 Peyton Avenue
Burbank CA, 91504

Interior Features

Total Stories

2


Total Bathrooms

20


Appliances

Refrigerator


Floor Description

Laminate


Fireplace

No


Cooling

No


Heating

Yes


Heating Description

Wall Furnace

Exterior/Building Features

Lot Size

0.44 Acres

Other Property Details

Area Name

610 - Burbank


Days on Market

8


Garage

No


Parking

Assigned, Uncovered


Parking Total

20


View

No


County

Los Angeles


Pool

No


Zoning

BUR4*


Buyer Agency Compensation

2.5%

Listing Contact: 424-394-1030 

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 2:27 AM UTC

 

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