1848 N Hollywood Way
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1848 N Hollywood Way
4 Unit Apartment Building $1,199,991 ($299,998/Unit) 4.50% Cap Rate Burbank, CA 91505
Executive Summary
Prime investment opportunity in Burbank! This well-maintained 4-unit building offers four 1 bedroom, 1 bathroom units, making it a great rental property. Each unit has been thoughtfully cared for by the same owner for nearly 30 years. The property includes 2 laundry area set-ups, 2 two-car garages, newer copper plumbing, and a newer roof. With alley access and a convenient location in the heart of Burbank, this is an ideal chance to invest in a highly desirable rental market. Don't miss this rare opportunity!
Financial Summary (Actual - 2023) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$71,340
|
$28.80
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$71,340
|
$28.80
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$17,370
|
$7.01
|
| Net Operating Income |
$53,970
|
$21.79
|
Financial Summary (Actual - 2023)
| Gross Rental Income | |
|---|---|
| Annual | $71,340 |
| Annual Per SF | $28.80 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $71,340 |
| Annual Per SF | $28.80 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $17,370 |
| Annual Per SF | $7.01 |
| Net Operating Income | |
|---|---|
| Annual | $53,970 |
| Annual Per SF | $21.79 |
Property Facts Under Contract
| Price | $1,199,991 | Apartment Style | Low Rise |
| Price Per Unit | $299,998 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.12 AC |
| Cap Rate | 4.50% | Building Size | 2,477 SF |
| Gross Rent Multiplier | 16.81 | Average Occupancy | 100% |
| No. Units | 4 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1947 |
| Property Subtype | Apartment | Parking Ratio | 1.61/1,000 SF |
| Price | $1,199,991 |
| Price Per Unit | $299,998 |
| Sale Type | Investment |
| Cap Rate | 4.50% |
| Gross Rent Multiplier | 16.81 |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.12 AC |
| Building Size | 2,477 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 1947 |
| Parking Ratio | 1.61/1,000 SF |
Site Amenities
- 24 Hour Access
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 4 | $1,325 | - |
1 of 1
Walk Score ®
Very Walkable (72)
PROPERTY TAXES
| Parcel Number | 2437-002-017 | Improvements Assessment | $157,969 (2024) |
| Land Assessment | $192,170 (2024) | Total Assessment | $350,139 (2024) |
PROPERTY TAXES
Parcel Number
2437-002-017
Land Assessment
$192,170 (2024)
Improvements Assessment
$157,969 (2024)
Total Assessment
$350,139 (2024)
zoning
| Zoning Code | BUR4 (Residential) |
| BUR4 (Residential) |
-
Brad Korb -
Brad Korb Real Estate Group
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1848 N Hollywood Way
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