2001 Peyton Avenue Burbank, CA 91504
Huge 500k Price Reduction! This is an excellent opportunity to invest in a rare non-rent controlled 20-unit building (85% occupied) in the prime Burbank area, priced at only $273k per door for renovated units. The property boasts an incredible current 6% Cap Rate and 12.1 GRM with upside potential to reach a 6.5% cap rate and 11.3 GRM on proforma. 16 fully renovated units with permits and 2 partially remodeled units offer promising long-term value for any forward-thinking investor. Additionally, the large lot size of approximately 19, 166 SF provides ample parking spaces as well as potential for future upside by adding multiple ADUs (Accessory Dwelling Units). Non-LA-City rent-controlled asset allowing significant 8.8% annual rent increases (5%+CPI) for future upside. 16 units have been completely renovated with permits (3 vacant) and boast a high-end aesthetic with new cabinets, flooring, modern lighting, new bathrooms, stainless steel appliances, as well as major exterior capital improvements. Amenities include a renovated courtyard with seating areas and a fire pit, on-site laundry facilities, and parking for convenience. Prime Burbank location just minutes away from media giants such as Warner Bros Studios, Walt Disney Studios, and Burbank Town Center Shopping Mall.
- Property TypeMulti-Family
- NeighborhoodN/A
- CountyLos Angeles
- Taxes$0
- HOA/Condo/Coop Fees$0
- Days on Site24 Days
- MLS StatusActive
- MLS ID Number24392853
- Home Size Source N/A
- Year Built1960
- Lot Size0.44 Acres
- Full BathsN/A
- Partial BathsN/A
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General Features
- Parking AssignedUncovered
- Parking Spaces 20
- Number of Stories 22
- Acreage 0.44
- Zoning BUR4*
- Listing Conditions Standard
Interior Features
- Heating Wall Furnace
- Appliances Refrigerator
- Flooring Laminate
Community Features
- Senior Community No
- MLS Area 610 - Burbank