260 E Providencia Ave
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260 E Providencia Ave
15 Unit Apartment Building $5,975,000 ($398,333/Unit) 6.19% Cap Rate Burbank, CA 91502
Investment Highlights
- Prime Burbank location near Disney Studios, Warner Brothers, and NBC.
- Top-rated schools and excellent freeway (5 and 134) and Metro Link access
- Close proximity to 80+ restaurants, 30 movie screens, and 200 retail stores.
Executive Summary
Stunning Multifamily Investment Opportunity in Burbank
We are excited to present this meticulously renovated 15-unit multifamily property located in the heart of Burbank, renowned as the Media Capital of the World. This exceptional investment opportunity is situated in one of the region’s most sought-after rental markets, offering strong returns and long-term growth potential.
Property Highlights:
Prime Location: Nestled on a 17,821-square-foot lot with 100 feet of street frontage across two parcels.
Diverse Unit Mix:
(12) One-bedroom, one-bathroom units
(2) Two-bedroom, one-bathroom units
(1) Two-bedroom, two-bathroom unit
Bonus: A 153-square-foot storage room that can be converted into an office.
Rentable Space: 8,202 square feet of updated, income-generating units.
Attractive Financials: Enjoy an in-place 6.19% CAP rate, making this an outstanding investment for cash flow and value appreciation.
This property represents the ideal combination of a renovated asset, diverse floor plans, and an exceptional location, making it a premier choice for savvy investors looking to capitalize on Burbank’s ever-growing rental demand. Don’t miss the chance to add this jewel to your portfolio!
Renovation Highlights:
• New plumbing, electrical wiring, subpanels, and
heating/AC system with ducting.
• New roof, recessed lighting, and interior/exterior paint.
• Modernized kitchens with updated cabinets and
countertops.
• Completely remodeled bathrooms.
• Washer and dryer in every unit.
We are excited to present this meticulously renovated 15-unit multifamily property located in the heart of Burbank, renowned as the Media Capital of the World. This exceptional investment opportunity is situated in one of the region’s most sought-after rental markets, offering strong returns and long-term growth potential.
Property Highlights:
Prime Location: Nestled on a 17,821-square-foot lot with 100 feet of street frontage across two parcels.
Diverse Unit Mix:
(12) One-bedroom, one-bathroom units
(2) Two-bedroom, one-bathroom units
(1) Two-bedroom, two-bathroom unit
Bonus: A 153-square-foot storage room that can be converted into an office.
Rentable Space: 8,202 square feet of updated, income-generating units.
Attractive Financials: Enjoy an in-place 6.19% CAP rate, making this an outstanding investment for cash flow and value appreciation.
This property represents the ideal combination of a renovated asset, diverse floor plans, and an exceptional location, making it a premier choice for savvy investors looking to capitalize on Burbank’s ever-growing rental demand. Don’t miss the chance to add this jewel to your portfolio!
Renovation Highlights:
• New plumbing, electrical wiring, subpanels, and
heating/AC system with ducting.
• New roof, recessed lighting, and interior/exterior paint.
• Modernized kitchens with updated cabinets and
countertops.
• Completely remodeled bathrooms.
• Washer and dryer in every unit.
Property Facts
| Price | $5,975,000 | Apartment Style | Garden |
| Price Per Unit | $398,333 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.41 AC |
| Cap Rate | 6.19% | Building Size | 9,841 SF |
| Gross Rent Multiplier | 12.65 | Average Occupancy | 100% |
| No. Units | 15 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1951 |
| Property Subtype | Apartment |
| Price | $5,975,000 |
| Price Per Unit | $398,333 |
| Sale Type | Investment |
| Cap Rate | 6.19% |
| Gross Rent Multiplier | 12.65 |
| No. Units | 15 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.41 AC |
| Building Size | 9,841 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1951 |
Unit Amenities
- Air Conditioning
- Washer/Dryer
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 10 | $2,500 | - |
| 2+1 | 2 | $3,250 | - |
| 2+2 | 1 | $3,250 | - |
| 1+1 | 2 | $2,300 | - |
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Walk Score ®
Very Walkable (89)
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $2,509,200 | |
| Land Assessment | $1,672,800 | Total Assessment | $4,182,000 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$1,672,800
Improvements Assessment
$2,509,200
Total Assessment
$4,182,000
zoning
| Zoning Code | BUR4* (Medium Density Multiple Residence) |
| BUR4* (Medium Density Multiple Residence) |
-
Steve Hovakimyan -
City Center Realty Group
(818) 845-5551
x308
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260 E Providencia Ave
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