Seller's Agent in 2026
Michael Sterman
Marcus & Millichap
(818) 943-2319
1 in this area
41 Total Sales
240 E Providencia Ave Burbank, CA 91502
Downtown Burbank Neighborhood
18
Beds
16
Baths
9,841
Sq Ft
0.41
Acres Lot
Highlights
- Recessed Lighting
- Central Heating and Cooling System
- 3-minute walk to Robert R. Ovrom Park
- Joaquin Miller Elementary School Rated A-
About This Home
As of March 2026We 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 5.89% 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.
Last Agent to Sell the Property
Marcus & Millichap License #01911703 Listed on: 11/11/2025
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1951
Interior Spaces
- 9,841 Sq Ft Home
- 2-Story Property
- Recessed Lighting
Bedrooms and Bathrooms
- 18 Bedrooms
- 16 Bathrooms
Parking
- 17 Parking Spaces
- Uncovered Parking
Additional Features
- 17,821 Sq Ft Lot
- Central Heating and Cooling System
Community Details
- 5 Buildings
- 15 Units
Listing and Financial Details
- Assessor Parcel Number 2453-031-008
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Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft | Prior Sale |
|---|---|---|---|---|---|
| 03/11/2026 03/11/26 | Sold | $4,950,000 | -8.2% | $503 / Sq Ft | |
| 02/12/2026 02/12/26 | Pending | -- | -- | -- | |
| 01/06/2026 01/06/26 | Price Changed | $5,395,000 | -3.7% | $548 / Sq Ft | |
| 11/11/2025 11/11/25 | For Sale | $5,600,000 | +36.6% | $569 / Sq Ft | |
| 08/18/2022 08/18/22 | Sold | $4,100,000 | 0.0% | $500 / Sq Ft | View Prior Sale |
| 07/11/2022 07/11/22 | Pending | -- | -- | -- | |
| 07/01/2022 07/01/22 | For Sale | $4,100,000 | -- | $500 / Sq Ft |
Source: The MLS
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 | $24,497 | $2,184,840 | $873,936 | $1,310,904 |
| 2024 | $24,497 | $2,142,000 | $856,800 | $1,285,200 |
| 2023 | $24,241 | $2,100,000 | $840,000 | $1,260,000 |
| 2022 | $5,137 | $385,966 | $385,803 | $163 |
| 2021 | $5,093 | $378,399 | $378,239 | $160 |
| 2019 | $4,916 | $367,177 | $367,021 | $156 |
| 2018 | $4,707 | $359,978 | $359,825 | $153 |
| 2016 | $4,323 | $346,001 | $345,853 | $148 |
| 2015 | $4,246 | $340,804 | $340,658 | $146 |
| 2014 | $4,282 | $334,129 | $333,985 | $144 |
Source: Public Records
Agents Affiliated with this Home
-
Michael Sterman
-
Cindy Hill
Seller's Agent in 2022
Cindy Hill
Equity Union
(818) 640-8360
1 in this area
80 Total Sales
-
G
Buyer's Agent in 2022
General NONMEMBER
NONMEMBER MRML
Map
Source: The MLS
MLS Number: 25619085
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© 2026 The MLS™ - Combined L.A. Westside MLS (CLAW). All rights reserved. Based on information from The MLS™ - Combined L.A. Westside MLS (CLAW). 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.
IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Information is deemed reliable but not guaranteed.
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