1700 Grismer Ave Burbank, CA 91504
Hillside District NeighborhoodEstimated payment $14,317/month
Highlights
- Laundry Room
- Bungalow
- Rectangular Lot
- Thomas Jefferson Elementary School Rated A
- Central Heating and Cooling System
- 4-minute walk to Earthwalk Park
About This Home
Just reduced! Owner will carry the 1st trust deed with 40% down for 4 years. First year to be 5%, second year to be 6%, third year to be 7% and the fourth year to be 8%. Perfect opportunity to obtain this investment and have lower interest rates for the first years to make improvements or additions. This is an incredible value-add opportunity situated in a highly desirable area of Burbank. Boasting a generous 10,603 sq. ft. lot, this property offers significant development potential—possibility to build up to 10 units, subject to verification and approval by the City of Burbank. Buyers are encouraged to conduct their own due diligence with the city to explore the full scope of development options.Currently, the property features six well-maintained residential units, thoughtfully distributed across three separate garden-style buildings. The unit mix includes:Three (3) units with 1 bedroom and 1 bathroom, andThree (3) units with 2 bedrooms and 1 bathroom.Each unit offers a comfortable and functional living space, and five out of six units are equipped with central heating and air conditioning for year-round comfort. The interiors have been meticulously maintained, reflecting pride of ownership, and several long-term tenants add stability to this income-producing asset.Parking accommodations include a 4-car carport and three uncovered parking spaces, offering a total of 7 on-site parking spots. A coin-operated laundry area, conveniently located within one of the carports, provides additional income potential and convenience for tenants.Notably, the last two units were originally one large single-family residence that has been divided into two separate units—this alteration may have been done without permits, and buyers should investigate accordingly.To enhance the appeal, the seller is offering seller financing, and is willing to carry the first trust deed with 40% down payment for a term of two years, with competitive interest rates. This is a rare chance to secure a valuable investment with favorable financing terms.Offers are subject to inspection
Listing Agent
Equity Union Brokerage Phone: 818-612-0514 License #00782682 Listed on: 03/21/2025
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $7,089
Year Built
- Built in 1941
Lot Details
- 10,603 Sq Ft Lot
- Two or More Common Walls
- Block Wall Fence
- Chain Link Fence
- Rectangular Lot
- Level Lot
- Back and Front Yard
Parking
- 2 Open Parking Spaces
- 6 Car Garage
- 4 Carport Spaces
Home Design
- Bungalow
- Apartment
- Entry on the 1st floor
- Composition Roof
Interior Spaces
- 3,875 Sq Ft Home
- 1-Story Property
Bedrooms and Bathrooms
- 8 Bedrooms
- 6 Bathrooms
Laundry
- Laundry Room
- Laundry in Garage
Outdoor Features
- Exterior Lighting
- Rain Gutters
Utilities
- Central Heating and Cooling System
Listing and Financial Details
- Tax Lot 44
- Tax Tract Number 3097
- Assessor Parcel Number 2468007030
- $892 per year additional tax assessments
Community Details
Overview
- 4 Buildings
- 6 Units
Amenities
- Laundry Facilities
Building Details
- 6 Leased Units
- 6 Separate Electric Meters
- 6 Separate Gas Meters
- 1 Separate Water Meter
- Electric Expense $1,560
- Fuel Expense $720
- Gardener Expense $1,200
- Insurance Expense $5,600
- Pest Control $912
- Water Sewer Expense $1,560
- Operating Expense $11,552
- Gross Income $146,604
- Net Operating Income $135,052
Map
Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $7,089 | $572,579 | $376,701 | $195,878 |
| 2024 | $7,089 | $561,353 | $369,315 | $192,038 |
| 2023 | $7,023 | $550,347 | $362,074 | $188,273 |
| 2022 | $6,733 | $539,557 | $354,975 | $184,582 |
| 2021 | $6,689 | $528,978 | $348,015 | $180,963 |
| 2020 | $6,620 | $526,855 | $344,447 | $182,408 |
| 2019 | $6,445 | $516,591 | $337,694 | $178,897 |
| 2018 | $6,299 | $506,527 | $331,073 | $175,454 |
| 2016 | $5,926 | $483,688 | $318,218 | $165,470 |
| 2015 | $5,817 | $476,424 | $313,439 | $162,985 |
| 2014 | $5,835 | $467,093 | $307,300 | $159,793 |
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 05/26/2025 05/26/25 | Price Changed | $2,599,000 | -1.9% | $671 / Sq Ft |
| 04/17/2025 04/17/25 | Price Changed | $2,650,000 | -1.9% | $684 / Sq Ft |
| 03/21/2025 03/21/25 | For Sale | $2,700,000 | -- | $697 / Sq Ft |
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Quit Claim Deed | -- | Fidelity | |
| Quit Claim Deed | -- | Fidelity | |
| Grant Deed | $315,000 | Commonwealth Title | |
| Trustee Deed | $308,000 | -- | |
| Gift Deed | -- | Southland Title Corporation | |
| Joint Tenancy Deed | -- | First American Title Company | |
| Grant Deed | -- | First American Title Company |
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $843,000 | Commercial | |
| Closed | $500,000 | Future Advance Clause Open End Mortgage | |
| Previous Owner | $250,000 | Commercial | |
| Previous Owner | $60,000 | Commercial | |
| Previous Owner | $274,345 | Seller Take Back | |
| Closed | $43,352 | No Value Available |
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: BB25062782
APN: 2468-007-030
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Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
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