240 Providencia Avenue, Burbank, CA 91502
  • MLS#: 25619085 ( )
  • Street Address: 240 Providencia Avenue
  • Viewed: 9
  • Price: $5,600,000
  • Price sqft: $0
  • Waterfront: No
  • Year Built: 1951
  • Bldg sqft: 0
  • Days On Market: 25
  • Additional Information
  • County: LOS ANGELES
  • City: Burbank
  • Zipcode: 91502
  • Provided by: Marcus & Millichap
  • Contact: Michael Michael
  • California Regional MLS IDX
  • DMCA Notice
  • Description
    We are pleased to present a 15 unit apartment property in the highly desirable city of Burbank, California. Built in 1951 and fully renovated in 2023, the property features twelve (12) one bedroom/one bath units, two (2) two bedroom/one bath units, and one (1) two bedroom/two bath unit, totaling approximately 9,841 square feet on a 17,821 square foot lot. This turnkey property offers all major systems brand new, including electrical, plumbing, and roof, along with modern interiors featuring new countertops, cabinets, flooring, recessed lighting, washer/dryer, and central A/C and heat. The property delivers a 5.64% Day 1 cap rate, providing immediate income for investors. Located just south of Glenoaks Blvd and near Downtown Burbank, residents enjoy convenient access to shopping, dining, and entertainment at Burbank Town Center, AMC Theatres, and San Fernando Boulevard, as well as proximity to major employers such as Disney, Warner Bros., and Nickelodeon Animation. With excellent connectivity to the I 5 Freeway, Magnolia Blvd, and Metrolink stations, this property is a rare opportunity to acquire a well located, turnkey multifamily asset in one of Los Angeles County's most stable rental markets. Strong fundamentals, a desirable unit mix, and consistent tenant demand make it an attractive investment with upside through rent optimization.
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Features
Building Area Total
  1. 9841.00
Cooling
  1. Central Air
Country
  1. US
Heating
  1. Central
Levels
  1. Multi/Split
Netoperatingincome
  1. 315713.00
Parcel Number
  1. 2453031008
Parking Features
  1. Uncovered
Postalcodeplus4
  1. 1432
Sourcesystemkey
  1. 25619085:CLAW
Totalexpenses
  1. 129457.00
Year Built
  1. 1951
Zoning
  1. BUR4*