727 E Palm, Burbank, CA 91501

Property Description

First time on the market in over 60 years. All the perks of living in the great City of Burbank. Close to shopping, dining and entertainment. Close to adjacent cities of Glendale and Pasadena. Close to major freeways for ease of access. Great development opportunity or just remodel existing structures. Zoned for low density multifamily housing. Check with City of Burbank to see development and land usage opportunities. Currently a multifamily 4-unit property. Main structure is 2 bed 1 bath. Two units in back are 1 bed 1 bath. Third unit out back is studio with bath. Three income properties are tenant occupied. Monthly current total gross rent collected from 3 units is $4,500. Oversized two story garage. Driveway parking for up to 4 cars. Home is being sold as is condition. All sizes and dimensions are per city and county records. Newer roof is approximately 8 years old on main home only. All (4) units are separately metered for gas and electric. Main home is metered for water for all 4 units. Buyer is advised to have professional inspections and to verify all information with the City of Burbank. Trust sale DOES NOT require court confirmation. Property to convey with three tenants in place currently. One tenant month to month lease other two leases mature in September and December 2026. Renovate/Expand/Teardown and build new. Great location in Burbank!!