Active
240 E Providencia Avenue
Burbank CA, 91502
$6,700,000
$680.83 per sqft
Active
9,841 sqft
Condo
Built in 1951
We are proud to represent this completely renovated 15 unit apartment building in an excellent rental pocket of Burbank.
The property has an excellent unit mix consisting of (12) one bedroom one bath units, (2) two bedroom one bath unit, and (1) two bedroom two bath unit.
The property is situated on a 17,821 square foot lot with 100 feet of frontage on two separate assessor parcel numbers. There is an additional 153 square foot storage room that can be used as an office.
The property has been completed renovated and the renovations include new plumbing, new roof, new electrical wiring and sub panels, new heating and a/c system with new ducting, new kitchen cabinets and countertops, new bathrooms, recessed lighting, and new interior and exterior paint. All units have washer and dryers.
The property is completely turn key and it is at an in place 5 cap rate with upside on existing rents.
The property is located in Burbank, which is a highly desirable rental market and is known as the media capital of the world. It is home to Disney Studios, Warner Brothers, and NBC. The city has over 80 restaurants, 30 movie screens, and 200 stores; its residents enjoy top ranked schools, easy access to the 5 and 134 freeways, and close proximity to the Burbank Metro Link.
The property is separately metered for gas and electricity.
SR24072463
MLSⓇ ID
April 11, 2024
Listed
May 9, 2024
Updated
Map
240 E Providencia Avenue
Burbank CA, 91502
Interior Features
Total Stories
2
Appliances
Dryer, Washer
Fireplace
No
Cooling
No
Heating
No
Exterior/Building Features
Lot Size
0.41 Acres
Sewer
Public Sewer
Other Property Details
Area Name
610 - Burbank
Days on Market
11
Garage
No
Parking Total
0
View
No
County
Los Angeles
Water Source
Public
Pool
No
Pool Features
None
Zoning
BUR4*
Buyer Agency Compensation
2%
Listed by Cindy Hill, Equity Union, CA DRE 00885625
Listing Contact: 818-640-4360
Based on information from the CRISNet MLS as of 5/9/2024, 2:36 PM UTC. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. The information being provided is for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
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