Active
2001 Peyton Avenue
Burbank CA, 91504
$5,995,000
$649.37 per sqft
Active
20 Baths
9,232 sqft
Residential
Built in 1960
Listed by Armin Soleimani with Global Platinum Properties, Inc. 310-666-2246
This is an excellent opportunity to invest in a rare non-rent-controlled 20-unit building (95% occupied) in the prime Burbank area, priced at only $299k per door for renovated units. The property boasts an incredible current 5.25% Cap Rate and 13.2 GRM with upside potential to reach a 5.7% cap rate and 12.4 GRM on proforma. 16 fully renovated units with permits and 1 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, and there is potential for future upside by adding multiple ADUs (Accessory Dwelling Units).Non-LA-City rent-controlled asset allowing significant 8.9% annual rent increases (5%+CPI) for future upside. 16 units have been completely renovated with permits (1 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 is just minutes away from media giants such as Warner Bros Studios, Walt Disney studios, and Burbank Town Center Shopping Mall.
24436685
MLSⓇ ID
September 6, 2024
Listed
October 1, 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
17
Garage
No
Parking
Assigned, Uncovered
Parking Total
20
View
No
County
Los Angeles
Pool
No
Zoning
BUR4*
Listing Contact: 424-394-1030
Based on information from the California Regional Multiple Listing Service (CRMLS) as of 10/1/2024. 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.
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Data last updated on 10/1/2024 at 10:14 PM UTC