198 W Elmwood, Burbank, CA 91502
- $2,395,000
- List Price
- $2,395,000
- Price Change
- ▼ $100,000 1770771813
- Status
- ACTIVE
- MLS#
- GD26010495
- Year Built
- 1953
- Lot Size
- 7,513
- Acres
- 0.17
- Lot Location
- Front Yard, Sprinkler System
- Days on Market
- 195
- Property Type
- Multifamily
- Property Sub Type
- Mixed Use
- Stories
- Two Levels
Property Description
Prime Burbank 6-Unit Multifamily | Strong Rental Upside | 5.7% Pro Forma Cap Located in the highly desirable City of Burbank — subject to AB 1482 with higher allowable annual rental increases than the City of Los Angeles — this pride-of-ownership six-unit multifamily property presents an exceptional value-add investment opportunity with approximately 18%+ rental upside. The property consists of six spacious 2-bedroom, 1-bath units, each featuring bright living rooms, well-sized kitchens with dining areas, generous bedrooms, and ample closet space. The building has been well maintained and includes a newer roof, partial copper plumbing, six covered parking spaces, and an on-site laundry room with owned machines. The property is separately metered for gas and electricity. Ideally situated less than one mile from Downtown Burbank, tenants enjoy convenient access to shopping, dining, cafés, entertainment, and the Burbank Town Center. The property is also in close proximity to major employment hubs including Walt Disney Studios, Warner Bros., and the city’s thriving media and technology sector, as well as award-winning Burbank schools. Commuters benefit from excellent freeway access to the 5, 134, and 2, providing direct connectivity to Glendale, Pasadena, Eagle Rock, Downtown Los Angeles, and the San Fernando Valley. This offering represents a rare opportunity to acquire a stable, well-located multifamily asset in one of Los Angeles County’s most resilient and supply-constrained rental markets. Financial Highlights (Based on New Tax Basis): • 4.9% Cap Rate | 14.79 GRM at Current Rents • 5.7% Pro Forma Cap Rate | 13.0 Pro Forma GRM
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Additional Information
- Appliances
- Dishwasher, Free-Standing Range, Gas Range, Gas Water Heater, Refrigerator, Range Hood
- Pool Description
- None
- Heat
- Wall Furnace
- Cooling
- Yes
- Cooling Description
- Wall/Window Unit(s)
- View
- Neighborhood, Trees/Woods
- Exterior Construction
- Unknown
- Roof
- Composition
- Garage Spaces Total
- 6
- Sewer
- Public Sewer
- Water
- Public
- Interior Features
- Ceiling Fan(s), Walk-In Closet(s)
- Attached Structure
- Attached
- Number Of Units Total
- 6
- Gross Scheduled Income
- $160,680
- Operating Expense
- 45886
Listing courtesy of Listing Agent: Silvia Ragheb (Silviaragheb@realtytrinity.com) from Listing Office: Trinity Real Estate & Investme.
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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.