NOT LISTED FOR SALE

257 E Valencia Ave Burbank, CA 91502

Downtown Burbank Neighborhood
46 Beds
48 Baths
23,206 Sq Ft
0.31 Acres

Last Sold April 07, 2023

Last sale price $10,270,000 $443 Per Sq Ft

67 Days on Market

Highlights

  • 0.31 Acre Lot
  • Subterranean Parking
  • Central Heating
  • Joaquin Miller Elementary School Rated A-
  • Air Conditioning
  • Gated Home

About This Home

As of April 2023

PLEASE DO NOT WALK THE PROPERTY OR DISTURB RESIDENTS. CBRE, Inc. is proud to exclusively present 257 E. Valencia Avenue in the city of Burbank, California. Located south of S. Glenoaks Boulevard and north of San Fernando Boulevard, between Alameda Avenue and Providencia Avenue, this property offers an investor the opportunity to own a prime piece of real estate in one of the most prominent submarkets within the Tri-Cities and San Fernando Valley. 257 E. Valencia Avenue is a three-story 24-unit multifamily property constructed in 1993 on a 13,612 SF BUR4 zoned lot, with a total building size of 23,206 SF. The neatly landscaped, controlled-access property is well-maintained, is separately metered for gas and electric, and offers enclosed parking garages with ample storage areas. 257 E. Valencia Ave. is comprised of 8 two-bedroom/ two-bath units, 14 two-bedroom/one and- a-half-bath units, and 2 one-bedroom/one-and-a-half-bath units. The spacious units are equipped with updated laminate and tile flooring, in-unit washer and dryer units, a stove, refrigerator, granite countertops, and centralized air conditioning and heating. The property has large a gated subterranean parking with 44 parking spaces and ample individual patio and balcony spaces for tenants.

Last Agent to Sell the Property

Jenny Eng

CBRE License #01931224 Listed on: 12/01/2022

Last Buyer's Agent

Priscilla Nee

CB Richard Ellis, Inc. License #01435254

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1993

Lot Details

  • 0.31 Acre Lot
  • Gated Home

Interior Spaces

  • 23,206 Sq Ft Home
  • 3-Story Property
  • Laundry in unit

Kitchen

  • Oven or Range
  • Range

Bedrooms and Bathrooms

  • 46 Bedrooms
  • 48 Bathrooms

Parking

  • 1 Open Parking Space
  • 44 Parking Spaces
  • 11 Carport Spaces
  • Subterranean Parking
  • Automatic Gate

Utilities

  • Air Conditioning
  • Central Heating

Community Details

  • 24 Units

Listing and Financial Details

  • Assessor Parcel Number 2453-037-056

Property Details

Home Type

Multi-Family

Year Built

Built in 1993

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Levels: Three Or More
  • Street Number Display: Yes
  • Additional Assessor Parcel Numbers: Yes
  • Living Area: 23206
  • Lot Acreage: 0.3125
  • Probate: No
  • Year Built: 1993
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Stories: 0

Interior Features

  • Appliances: Range
  • Bedrooms: 46
  • Laundry: In Unit
  • Total Bathrooms: 48.00
  • Equipment: Range/Oven
  • Price Per S Q F T: 484.79

Exterior Features

  • Other Structures: None
  • Pool: No

Garage/Parking

  • Carport Spaces: 11
  • Other Spaces: 1
  • Covered Parking: 8
  • Parking Garage: Subterranean
  • Total Parking: 44

Utilities

  • Cooling: Air Conditioning
  • Heating: Central
  • Security: Automatic Gate, Gated

Lot Info

  • Assessor Parcel Number: 2453-037-056
  • Lot Size Area: 13612

Multi Family

  • Unit Type: 2106, 2107, 2108
  • Gross Rent Multiplier: 18.24
  • Number Of Units: 24
  • Type Of Units: Multifamily

Range of Values:

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Value Increase
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Percent Increase
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Adjusted for Inflation
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Average Value
Not Available
List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
04/07/2023 04/07/23 Sold $10,270,000 -8.7% $443 / Sq Ft
02/06/2023 02/06/23 Pending -- -- --
12/01/2022 12/01/22 For Sale $11,250,000 -- $485 / Sq Ft
Source: The MLS

Tax History Compared to Growth

Source: Public Records

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 $117,435 $10,684,908 $3,610,188 $7,074,720
2024 $117,435 $10,475,400 $3,539,400 $6,936,000
2023 $47,272 $4,046,815 $1,010,986 $3,035,829
2022 $45,184 $3,967,466 $991,163 $2,976,303
2021 $44,897 $3,889,674 $971,729 $2,917,945
2019 $43,119 $3,774,307 $942,908 $2,831,399
2018 $42,732 $3,700,302 $924,420 $2,775,882
2016 $40,380 $3,556,617 $888,525 $2,668,092
2015 $39,579 $3,503,194 $875,179 $2,628,015
2014 $39,593 $3,434,572 $858,036 $2,576,536
Source: Public Records

Agents Affiliated with this Home

  • Jenny Eng

    Seller's Agent in 2023

    Jenny Eng

    CBRE

    (818) 905-2400

    1 in this area

    15 Total Sales

    Jenny Eng
    Section Image
  • Priscilla Nee

    Buyer's Agent in 2023

    Priscilla Nee

    CB Richard Ellis, Inc.

    (310) 550-2500

    1 in this area

    31 Total Sales

    Priscilla Nee
    Section Image
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Map

Source: The MLS

MLS Number: 22-221949

The MLS
California Los Angeles County Burbank 91502 Downtown Burbank

257 E Valencia Ave, Burbank, CA

Not Listed for Sale

MultiFamily

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