324 Santa Anita Avenue, Burbank, CA 91502
List Price: $2.85M
Listing Status: ActiveUnderContract
Original List Price: $2.92M
0Days on Market: 147
10 Bedrooms · 12 Bathrooms · 6,001 sq ft
Property Type: ResidentialIncome
Year Built: 1957
Lot Size: 8,981 sq ft
Garage Spaces: 8
MLS Number: 225005855
About This Property
The E. Santa Anita Ave Residences present a rare value-add opportunity in one of Burbank's most desirable rental corridors, just south of Glenoaks Blvd. This 8-unit, 6,001 sq. ft. building sits on an oversized 8,978 sq. ft. lot and features an efficient mix of two 2BR/1BA units and six 1BR/1BA units. Units have already been modernized with stainless-steel appliances, wood flooring, and upgraded bathroom vanities. Ownership has also completed major system upgrades, including electrical, reducing near-term maintenance exposure for a new investor. Built in 1957, the property is subject to AB 1482, allowing approximately 8% annual rent increases. Eight parking spaces (including tandem), and a rear garage with ADU conversion potential, this asset offers multiple avenues for forced appreciation. This is an exceptional chance to acquire a trophy multifamily asset in a prime, low-vacancy Burbank neighborhood with strong long-term fundamentals. All of the units have been renovated.There are 8 parking spots. NOI is at $188,878 running at 17% for expenses (Excluding property taxes)
Listing provided by: Renee Wilkins-Virella DRE #02188375 (805) 777-7777 reneevirella@gmail.com, Keller Williams Westlake Village
Source: CRMLS, MLS #: 225005855
Belmont Brokerage Inc. (DRE #02431308) is not the listing office for this property. We provide buyer representation and consultation. Any “Schedule a Tour” or “Contact” form on this page contacts a Belmont Brokerage agent — not the listing agent above.