NOT LISTED FOR SALE
15 Beds
9 Baths
6,646 Sq Ft
7,620 Sq Ft Lot

Last Sold May 08, 2023

Last sale price $2,500,000 $376 Per Sq Ft

177 Days on Market

Highlights

  • Laundry Room
  • Rectangular Lot
  • Block Wall Fence
  • Joaquin Miller Elementary School Rated A-

About This Home

As of May 2023

Prime Location! Quality 8-unit building located in the heart of downtown Burbank. Pride of ownership in these well-maintained units that have been in the family for decades. Most units have some or all upgrades, 3 garage parking in front, and carports in the back. The wonderful courtyard allows some of the upstairs units to have balconies and patios with a view of the mountains. Walk to great shopping, restaurants, and Burbank Towncenter. Located 3 blocks from Burbank Police/Fire departments and Burbank Public library. Burbank is known to be the Media Capital and is home to Disney, Warner Bros, Nickelodeon, Netflix, and Burbank Studios, Close to Ikea, Hollywood/Burbank Airport, St. Joseph's Hospital, Hollywood Bowl, and DTLA. Burbank Amenities also include Debell Golf Course, Award-winning parks & recreation, LA Equestrian Center, and Starlight Bowl. The City of Burbank is an incorporated city with its own Police/Fire, Schools and is not under LA city rent control. All tenants are on month-to-month. Unit makeup consists of 2) 1br-1 bath, 5)2br -1 bath and 1) 3br-2 bath. The 3-bedroom unit is renovated and vacant and can be viewed with an appointment.

Last Agent to Sell the Property

Cameron Hunter

Media West Realty,Inc. License #01900152 Listed on: 11/02/2022

Last Buyer's Agent

Edwin Ordubegian

Coldwell Banker Hallmark License #01264835

Coldwell Banker Hallmark

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1962

Lot Details

  • 7,620 Sq Ft Lot
  • Two or More Common Walls
  • Block Wall Fence
  • Rectangular Lot

Parking

  • 5 Open Parking Spaces
  • 3 Car Garage

Home Design

  • Apartment
  • Composition Roof
  • Stucco

Interior Spaces

  • 6,646 Sq Ft Home
  • 2-Story Property
  • Laundry Room

Bedrooms and Bathrooms

  • 15 Bedrooms
  • 9 Bathrooms

Additional Features

  • Exterior Lighting
  • Sewer Paid

Listing and Financial Details

  • Tenant pays for electricity, gas, trash collection
  • Legal Lot and Block 14 / 43
  • Tax Tract Number 3107
  • Assessor Parcel Number 2453021010
  • $970 per year additional tax assessments

Community Details

Building Details

  • 7 Leased Units
  • 9 Separate Electric Meters
  • 9 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $1,915
  • Fuel Expense $3,534
  • Gardener Expense $1,200
  • Insurance Expense $7,006
  • Maintenance Expense $1,800
  • Trash Expense $1,919
  • New Taxes Expense $40,065
  • Operating Expense $31,978
  • Gross Income $828
  • Net Operating Income $111,926

Additional Features

  • 8 Units
  • Laundry Facilities

Property Details

Home Type

Multi-Family

Year Built

Built in 1962

Lot Details

0

Parking

3

Listing Details

  • CapRate: 3.73
  • Property Attached: Yes
  • Zoning: BUR5*
  • Property Sub Type: Apartment
  • Property Type: Residential Income
  • Gardener Expense: 1200.00
  • Parcel Number: 2453021010
  • Year Built: 1962
  • Special Features: None

Interior Features

  • Stories: 2
  • Common Walls: 2+ Common Walls
  • Levels: Two
  • Price Per Square Foot: 376.17

Exterior Features

  • Fence: Yes
  • Fencing: Block
  • Pool Private: No
  • Roof: Composition
  • Construction Materials: Stucco

Garage/Parking

  • Garage Spaces: 3.00
  • Total Parking Spaces: 8.00
  • Uncovered Spaces: 5.00

Utilities

  • Laundry: Yes
  • Laundry Features: Common Area, Individual Room
  • Sewer: Sewer Paid
  • Trash Expense: 1919.00
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Common Interest: Community Apartment
  • Community Features: Sidewalks, Street Lights

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Rectangular Lot
  • Lot Size Sq Ft: 7620.00
  • Lot Size Acres: 0.1749

Rental Info

  • Tenant Pays: Electricity, Gas, Trash Collection

Multi Family

  • Average3 Bed Area: 2000 Square Feet
  • Electric Expense: 1915.00
  • Fuel Expense: 3534.00
  • Gross Income: 828.00
  • Gross Multiplier: 21.00
  • Gross Operating Income: 101028.00
  • Gross Scheduled Income: 143904.00
  • Insurance Expense: 7006.00
  • Laundry Income: 69.00
  • Lot Size Area: 7620.0000 Square Feet
  • Maintenance Expense: 1800.00
  • Net Operating Income: 111926.00
  • Number Of Separate Electric Meters: 9
  • Number Of Separate Gas Meters: 9
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 7
  • Number Of Units Total: 8
  • Operating Expense: 31978.00
  • Rent Control: No
  • Total Actual Rent: 8375.00
  • Total Expenses: 31978.00

Tax Info

  • New Taxes Expense: 40065.00
  • Tax Block: 43
  • Tax Census Tract: 3107.04
  • Tax Lot: 14
  • Tax Tract Number: 3107
  • TaxOtherAnnualAssessmentAmount: 970.00
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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
05/08/2023 05/08/23 Sold $2,500,000 -9.9% $376 / Sq Ft
04/28/2023 04/28/23 Pending -- -- --
04/28/2023 04/28/23 For Sale $2,775,000 +11.0% $418 / Sq Ft
04/13/2023 04/13/23 Off Market $2,500,000 -- --
02/02/2023 02/02/23 Price Changed $2,775,000 -7.5% $418 / Sq Ft
12/03/2022 12/03/22 Price Changed $2,999,999 0.0% $451 / Sq Ft
12/03/2022 12/03/22 Rented $2,850 0.0% --
11/18/2022 11/18/22 For Rent $2,850 0.0% --
11/02/2022 11/02/22 For Sale $3,250,000 -- $489 / 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 $29,066 $2,958,000 $1,774,800 $1,183,200
2024 $29,066 $2,550,000 $1,346,400 $1,203,600
2023 $34,963 $3,060,000 $1,224,000 $1,836,000
2022 $3,326 $209,719 $41,090 $168,629
2021 $3,270 $205,608 $40,285 $165,323
2019 $3,169 $203,686 $39,091 $164,595
2018 $3,064 $199,775 $38,325 $161,450
2016 $2,811 $188,007 $36,838 $151,169
2015 $2,769 $185,184 $36,285 $148,899
2014 $2,820 $181,558 $35,575 $145,983
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: BB22234092

California Regional Multiple Listing Service (CRMLS)