30
See all 30 photos
$5,975,000
Est. payment /mo
9,841 SqFt
Active
240 E Providencia Avenue Burbank, CA 91502
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UPDATED:
12/14/2024 11:20 PM
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 9,841 sqft
Price per Sqft $607
MLS Listing ID CRBB24247060
HOA Y/N No
Year Built 1951
Lot Size 0.409 Acres
Acres 0.41
Property Description
Stunning Multifamily Investment Opportunity in Burbank : 240-260 E. Providencia We are excited to present this meticulously renovated 15-unit multifamily property located in the heart of Burbank, renowned as the Media Capital of the World. This exceptional investment opportunity is situated in one of the region’s most sought-after rental markets, offering strong returns and long-term growth potential. Property Highlights: Prime Location: Nestled on a 17,821-square-foot lot with 100 feet of street frontage across two parcels. Diverse Unit Mix: (12) One-bedroom, one-bathroom units (2) Two-bedroom, one-bathroom units (1) Two-bedroom, two-bathroom unit Bonus: A 153-square-foot storage room that can be converted into an office. Rentable Space: 8,202 square feet of updated, income-generating units. Attractive Financials: Enjoy an in-place 6.19% CAP rate, making this an outstanding investment for cash flow and value appreciation. This property represents the ideal combination of a renovated asset, diverse floor plans, and an exceptional location, making it a premier choice for savvy investors looking to capitalize on Burbank’s ever-growing rental demand. Don’t miss the chance to add this jewel to your portfolio!
Location
State CA
County Los Angeles
Area Listing
Zoning BUR4
Interior
Heating Other
Cooling Central Air
Fireplace No
Laundry Inside
Building
Sewer Public Sewer
Water Public
New Construction No
Others
Tax ID 2453031008
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Listed by Steve Hovakimyan • City Center Realty Group
A FEW WORDS FROM PAST CLIENTS
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Mike & Jules Guzzardo Team With Jenny Biczkow
Realtor | r01066846,01955798,02086289