1819 W Alameda Avenue, Burbank, CA 91506
- $7,850,000
- 40
- BD
- 40
- BA
- 19,358
- SqFt
Listing courtesy of Listing Agent: Douglas Steinriede (listings@doverla.com) from Listing Office: Dover Management Corp..
- List Price
- $7,850,000
- Status
- ACTIVE
- Days on Market
- 45
- MLS#
- 26865431
- Subtype
- Residential Income
- Year Built
- 1986
- Bedrooms
- 40
- Bathrooms
- 40
- Living Area
- 19,358
- Lot Size
- 16,278
- Acres
- 0.37
- MLS Area Major
- Burbank (610)
Property Description
1819 W. Alameda Ave is offered at a 6.20% cap rate and comprises 20 units in Burbank's Rancho Adjacent neighborhood, near the center of the city between Verdugo and Alameda Avenues. The unit mix includes 16 two-bedroom/two-bathroom units and 4 two-bedroom/one-bathroom units, 11 of which have already been remodeled giving new ownership a clear value-add roadmap: renovate the remaining nine units to bring them to market rent and capture the property's approximately 15% loss to lease by filling existing vacancies. Additional upside exists in monetizing the property's 40 parking spaces, which currently sit unrented.
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Additional Information
- Interior Features
- Ceiling Fan(s)
- Zoning
- BUR4*
- Appliances
- Refrigerator, Dryer, Washer
- Heating
- Central
- Stories
- Multi Level
- Levels
- Multi/Split
- Parking Features
- Underground
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Based on information from California Regional Multiple Listing Service, Inc. as of . 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, 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.