1700 Grismer Ave - Apartments FOR SALE


Burbank, CA 91504- Vega
$2,700,000 USD
818-612-0514
1700 Grismer Ave, Burbank, CA for Sale
$2,700,000 USD
Apartments - FOR SALE
1/22
null | 4.75% Cap Rate

1700 Grismer Ave
Burbank, CA 91504
Vega


HIGHLIGHTS

  • Owner Financing Available at Very Favorable terms
  • Development opportunity
  • Price per sq. ft. $697

OVERVIEW

Incredible value-add opportunity situated in a desirable Burbank area. The property boast a 10,603 sq. ft. lot with offers significant development potential, similar to neighboring properties. There is the possibility to build up to 10 units, subject to verification by the City of Burbank. Buyer to conduct their own due diligence. Currently the property consists of 6 garden style units with 2 units in each building. There are 3 one bedroom, one bath units and 3 two bedroom, one bath units. The long term tenants add stability to the property. The interiors are meticulously maintained and five of the six units have central heat and air.. Parking includes a 4 car carport and 3 uncovered spaces. A coin operated laundry area is conveniently located in one of the oversized carports. The last two units were originally one large single family residence that has been divided into two separate units. This alternation may have been completed without permits and buyers should investigate. To enhance the appeal, the seller is offering seller financing and is willing to carry the first trust deed with 40% Down payment at very competitive interest rates. Offer subject to inspection.

FOR SALE DETAILS

PRICE

$2,700,000 USD

PRICE/SF

$697 USD /SF

# OF UNITS

6

PRICE/UNIT

$450,000

CAP RATE

4.75%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1941

PARKING SPACES

7

LAND DETAILS

LAND ACRES

0.25 AC

LAND SF

10,899 SF

ZONING

BUR4, Burbank

APN/PARCEL ID

2468-007-030

ASK ABOUT THIS PROPERTY

Joyce StarleafEquity Union Real EstateMore Info
818-612-0514

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Joyce StarleafEquity Union Real EstateMore Info
818-612-0514

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.