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$ 4,300,000
$ 4,500,000 4.4%
Est. payment | /mo
3 Beds
3 Baths
8,550 Sqft Lot
$ 4,300,000
$ 4,500,000 4.4%
Est. payment | /mo
3 Beds
3 Baths
8,550 Sqft Lot
Key Details
Sold Price $4,300,000
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Sold
Purchase Type For Sale
MLS Listing ID OC26146282
Bedrooms 3
Lot Size 8,550 Sqft
Property Sub-Type Res Income 2-4 Units
Property Description
First time on the market in nearly 25 years. Verdugo Apartments is a 13-unit multifamily property located in a prime Burbank location north of Glenoaks Blvd. The property features ten 1-bedroom/1-bathroom units and three 2-bedroom/2-bathroom units totaling 9,106 square feet on an 8,548 square foot lot. Built in 1966, the property offers tuck-under parking and on-site laundry facilities. Long-term ownership has maintained the property with exceptional care, including a new roof installed in 2022 and upgraded windows throughout. These significant improvements enhance the property's overall condition and reduce near-term capital improvement needs. Current rental income is approximately $26,670 per month, with rents below prevailing market levels, providing potential for future income growth through natural tenant turnover without requiring an extensive renovation program. Burbank is widely recognized as the "Media Capital of the World" and is home to major entertainment companies including Disney Studios, DreamWorks Animation, Warner Bros. Studios, Universal Studios, and Nickelodeon Studios nearby. The property is conveniently located near Burbank Town Center, Downtown Burbank, shopping, dining, entertainment, and major employment centers.
Location
State CA
County Los Angeles
Zoning Public Rec
Interior
Heating Forced Air Unit
Cooling Wall/Window
Exterior
View Y/N No
Building
Story 3
Others
Acceptable Financing Cash
Listing Terms Cash
Listed by Liza Valayati, DRE#02113813 Valiant Multi-Family Group
Bought with Ryan Planegger Ryan Planegger
Bought with Ryan Planegger Ryan Planegger
NEARBY SCHOOL & BUSINESS