Burbank Media Crest | 5.7% cap | 1990 Multi-Family FOR SALE


Burbank, CA
$19,800,000 USD
818-224-7949
, Burbank, CA for Sale
$19,800,000 USD
Multi-Family - FOR SALE
1/15
null | 5.7% Cap Rate

Burbank Media Crest | 5.7% cap | 1990
Burbank, CA


HIGHLIGHTS

  • 1990s construction in one of the more supply constrained markets
  • Ability to mark immediate footprint in high barrier to entry market
  • 5.7% CAP | 12.7 GRM day 1
  • Turn Key - all units remodeled
  • Across the street from $500M studio & office development, 2025 completion

OVERVIEW

The Alexanian Apartment Advisors are pleased to offer for sale the Burbank Media Crest Portfolio, a turnkey multifamily offering of 24 and 20 units situated across the street from each other in prime Burbank. Immediate footprint in one of the hardest barriers to entry markets in Southern California. Directly across the street from the $500,000,000 Ranch Lot Studio development being completed in 2025, consisting of 926,000 sf of studio & office space. Both properties have been fully renovated and offer ease of management, both are fully occupied. The current annual blended scheduled income is $1,546,272. Unit mix totals (1) 3+2, (31) 2+2 and (12) 1+1 spacious units. Several lofted ceiling fireplaces, patios, balconies, gated & controlled access & parking. Burbank is dubbed as the Media Capital of the World, with industry titans such as Warner Bros, NETFLIX, Universal, The Walk Disney Company, and Nickelodeon all call Burbank home. Another major gem to Burbank residents is its Burbank Hollywood Way airport, a few miles from the subject properties. Great fundamentals of a solid workforce, a plethora of restaurants, cafes & entertainment, limited housing stock, and very high affordability gap to-own ratio - ensures a stable cashflow stream and limited turnover. Contact Greg Alexanian for offering memorandums and scheduled tour dates.

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.