NOT LISTED FOR SALE

313 E Providencia Ave Burbank, CA 91502

Downtown Burbank Neighborhood
6 Beds
6 Baths
6,175 Sq Ft
1987 Built

Last Sold May 10, 2018

Last sale price $2,925,000 $474 Per Sq Ft

42 Days on Market

Highlights

  • Laundry Room
  • Forced Air Heating System
  • 4-minute walk to Robert R. Ovrom Park
  • Joaquin Miller Elementary School Rated A-

About This Home

As of May 2018

We are proud to represent this 8-unit apartment building in Burbank.
The building was constructed in 1987 and has upside in rents. Its unit mix consists of (6) one-bedroom, onebathroom
units and (2) two-bedroom, two-bathroom units. With a lot size of 7,256 square feet, the property has a total
of 6,175 rentable square feet.
Burbank is a highly desirable rental market and is known as the media capital of the world, which is home to Disney
Studios, Warner Brothers, and NBC. The city has over 80 restaurants, 30 movie screens, and 200 shops; its residents
enjoy top ranked schools, easy access to the 5 and 134 freeways, and close proximity to the Burbank Metro Link. The
property is within walking distance to Glenoaks Blvd, which has dozens of restaurants and shops.
The property has undergone hundreds of thousands of dollars’ worth of capital improvements over the past few
years, including entirely remodeled kitchens, living rooms, bathrooms, and flooring. The building is non-rent control and
has a very low cost of maintenance.
The property is separately metered for gas and electricity

Last Agent to Sell the Property

Cindy Hill

Equity Union License #00885625 Listed on: 02/15/2018

Equity Union

Last Buyer's Agent

Cam Walker

Better Homes and Gardens Real Estate Town Center License #01903087

Better Homes and Gardens Real Estate Town Center

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1987

Lot Details

  • 7,257 Sq Ft Lot
  • Two or More Common Walls
  • Density is up to 1 Unit/Acre

Parking

  • 2 Car Garage

Home Design

  • Property Attached

Interior Spaces

  • 6,175 Sq Ft Home
  • 2-Story Property
  • Laundry Room

Bedrooms and Bathrooms

  • 6 Bedrooms
  • 6 Bathrooms

Utilities

  • Forced Air Heating System

Listing and Financial Details

  • Assessor Parcel Number 2453029003

Community Details

Building Details

  • 9 Separate Electric Meters
  • 9 Separate Gas Meters
  • Electric Expense $5,574
  • Insurance Expense $3,259
  • New Taxes Expense $32,433
  • Operating Expense $47,543
  • Gross Income $13,400
  • Net Operating Income $109,933

Additional Features

  • 8 Units
  • Laundry Facilities

Property Details

Home Type

Multi-Family

Year Built

Built in 1987

Lot Details

0

Parking

2

Listing Details

  • Property Attached: Yes
  • Zoning: BUR4*
  • Property Type: Residential Income
  • Parcel Number: 2453029003
  • Year Built: 1987
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Stories: 2
  • Common Walls: 2+ Common Walls
  • Levels: Two
  • Price Per Square Foot: 473.68

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 2.00
  • Total Parking Spaces: 2.00

Utilities

  • Heating: Yes
  • Laundry: Yes
  • Heating Type: Forced Air
  • Laundry Features: Community
  • Sewer: Public Sewer
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Community Features: Curbs

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 0-1 Unit/Acre
  • Lot Size Sq Ft: 7257.00

Multi Family

  • Electric Expense: 5574.00
  • Gross Income: 13400.00
  • Gross Scheduled Income: 160800.00
  • Insurance Expense: 3259.00
  • Net Operating Income: 109933.00
  • Number Of Separate Electric Meters: 9
  • Number Of Separate Gas Meters: 9
  • Number Of Units Total: 8
  • Operating Expense: 47543.00
  • Rent Control: No
  • Total Expenses: 47543.00

Tax Info

  • New Taxes Expense: 32433.00
  • Tax Census Tract: 3107.02
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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 Prior Sale
05/10/2018 05/10/18 Sold $2,925,000 -0.8% $474 / Sq Ft
03/29/2018 03/29/18 Pending -- -- --
02/15/2018 02/15/18 For Sale $2,950,000 -90.8% $478 / Sq Ft
10/01/2016 10/01/16 Sold $32,000,000 +1085.2% $5,182 / Sq Ft View Prior Sale
06/01/2016 06/01/16 Pending -- -- --
05/31/2016 05/31/16 For Sale $2,700,000 -- $437 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

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 $36,832 $3,328,146 $1,331,258 $1,996,888
2024 $36,832 $3,262,889 $1,305,155 $1,957,734
2023 $36,442 $3,198,912 $1,279,564 $1,919,348
2022 $34,804 $3,136,189 $1,254,475 $1,881,714
2021 $34,670 $3,074,696 $1,229,878 $1,844,818
2019 $33,286 $2,985,675 $1,193,400 $1,792,275
2018 $31,171 $2,756,175 $1,101,600 $1,654,575
2016 $16,760 $1,471,302 $945,030 $526,272
2015 $16,428 $1,449,202 $930,835 $518,367
2014 $16,421 $1,420,815 $912,602 $508,213
Source: Public Records

Agents Affiliated with this Home

  • Cindy Hill

    Seller's Agent in 2018

    Cindy Hill

    Equity Union

    (818) 640-8360

    1 in this area

    80 Total Sales

    Cindy Hill
    Section Image

  • C

    Buyer's Agent in 2018

    Cam Walker

    Better Homes and Gardens Real Estate Town Center

    (818) 203-0318

    17 Total Sales

    Cam Walker
    Section Image
  • Levon Alexanian

    Seller's Agent in 2016

    Levon Alexanian

    Keller Williams World Media Center

    (818) 219-3366

    21 Total Sales

    Levon Alexanian
    Section Image
See All Agents

Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: SR18036334

California Regional Multiple Listing Service (CRMLS)
California Los Angeles County Burbank 91502 Downtown Burbank

313 E Providencia Ave, Burbank, CA

Not Listed for Sale

MultiFamily

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California Regional Multiple Listing Service (CRMLS) The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.

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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