701-711 N Hollywood Way - Apartments FOR SALE


Burbank, CA 91505
$10,800,000 USD
818-224-7949
701-711 N Hollywood Way, Burbank, CA for Sale
$10,800,000 USD
Apartments - FOR SALE
1/20
null | 5.62% Cap Rate

701-711 N Hollywood Way
Burbank, CA 91505


HIGHLIGHTS

  • Built 1989
  • Modernized asset with full renovations
  • 12.9 GRM & 5.62% CAP - CURRENT
  • Across the street from $500M studio/office development

OVERVIEW

The Alexanian Apartment Advisors as exclusive agents are pleased to offer for sale the Media Crest @701, a turn-key 24 units multifamily offering in the city of Burbank Ca. Comprised of fully upgraded and remodeled units and grounds, the offering requires virtually no capital upgrade requirements and is being delivered at 12.9 grm and 5.62% cap. Unit mix of (16) 2+2, (8) 1+1 are supplied with balconies/patios, fireplaces, dishwashers, central AC & heat, and are secured by gated parking and controlled access. Situated in the heart of Burbank, a thriving media and entertainment hub, this property offers proximity to major studios like Warner Bros., Disney, and NBC. Burbank is known for its strong rental demand and stable real estate market, making it an excellent location for apartment investment. Directly across the street is the "Ranch Lot Development" a $500,000,000 project being completed in 2025 is comprised of 926,000 sq ft media & office space. Burbank has a strong local economy driven by entertainment, tech, and media industries, making it a resilient market for residential real estate. The city’s ongoing development and economic growth provide a stable investment environment. With its central location and solid demand for rentals, Media Crest @701 is poised to continue to generate consistent cash flow. It represents a safe and reliable long-term investment in a high-demand area. Also available with sister property 520 N Hollywood Way, 20 units, if desired. * Contact Greg Alexanian for further details, tour dates and offering memorandum *

FOR SALE DETAILS

PRICE

$10,800,000 USD

PRICE/SF

$528 USD /SF

# OF UNITS

24

PRICE/UNIT

$450,000

CAP RATE

5.62%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1989

PARKING SPACES

44

LAND DETAILS

LAND ACRES

0.42 AC

LAND SF

18,347 SF

ZONING

R4, Burbank

APN/PARCEL ID

2480-014-021

ASK ABOUT THIS PROPERTY

Levon AlexanianAlexanian Apartment AdvisorsMore Info
818-224-7949

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Levon AlexanianAlexanian Apartment AdvisorsMore Info
818-224-7949

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