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Rick Lee

rickjleehomes@gmail.com +1(714) 943-1598

$ 5,995,000

Est. payment -/mo

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Active

2001 Peyton AVE Burbank, CA 91504

20 Baths

9,232 SqFt

UPDATED:

09/30/2024 05:54 PM

Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 9,232 sqft

Price per Sqft $649

MLS Listing ID 24436685

HOA Y/N No

Year Built 1960

Lot Size 0.440 Acres

Property Description

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.

Location

State CA

County Los Angeles

Area 610 - Burbank

Zoning BUR4*

Interior

Heating Wall Furnace

Flooring Laminate

Fireplace No

Appliance Refrigerator

Exterior

Garage Assigned, Uncovered

Parking Type Assigned, Uncovered

Total Parking Spaces 20

Building

Story 2

Entry Level Two

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 2468016004

Special Listing Condition Standard

Listed by Armin Soleimani • Global Platinum Properties, Inc.

Rick Lee

Team Leader | License ID: 02130981

+1(714) 943-1598

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Rick Lee

Rick Lee

2001 Peyton AVE Burbank, CA 91504

Key Details

Location

Interior

Exterior

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2001 Peyton AVE