711 Hollywood Way, Burbank, CA 91505
  • MLS#: SR24231974 ( Apartment )
  • Street Address: 711 Hollywood Way
  • Viewed: 1
  • Price: $10,800,000
  • Price sqft: $0
  • Waterfront: No
  • Year Built: 1989
  • Bldg sqft: 0
  • Days On Market: 4
  • Additional Information
  • County: LOS ANGELES
  • City: Burbank
  • Zipcode: 91505
  • Provided by: Keller Williams World Media Center
  • Contact: Levon Levon
  • California Regional MLS IDX
  • DMCA Notice
  • Description
    We 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 citys 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 *
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Features
Building Area Total
  1. 20438.00
Commoninterest
  1. Community Apartment
Common Walls
  1. 1 Common Wall
Country
  1. US
Electric Expense
  1. 0.00
Entry Location
  1. curb
Fuel Expense
  1. 0.00
Garage Spaces
  1. 0.00
Insurance Expense
  1. 0.00
Laundry Features
  1. Common Area
Lot Features
  1. 21-25 Units/Acre
Netoperatingincome
  1. 607353.00
Number Of Separate Electric Meters
  1. 25
Number Of Separate Gas Meters
  1. 25
Number Of Separate Water Meters
  1. 25
Parcel Number
  1. 2480014021
Pool Features
  1. None
Postalcodeplus4
  1. 3127
Professionalmanagementexpense
  1. 0.00
Property Type
  1. Apartment
Sewer
  1. Private Sewer
Sourcesystemid
  1. CRM
Sourcesystemkey
  1. 427035508:CRM
Totalexpenses
  1. 206827.00
Trash Expense
  1. 0.00
Water Sewer Expense
  1. 0.00
Water Source
  1. Private
Year Built
  1. 1989
Year Built Source
  1. Assessor
Zoning
  1. BUR4*