Seller's Agent in 2023
Filip Niculete
Marcus & Millichap
(818) 357-9525
3 in this area
103 Total Sales
342 E Providencia Ave Burbank, CA 91502
Downtown Burbank Neighborhood
41
Beds
43
Baths
26,100
Sq Ft
26,572
Sq Ft Lot
Highlights
- 0.61 Acre Lot
- Air Conditioning
- Laundry Facilities
- Joaquin Miller Elementary School Rated A-
- Central Heating
- 4-minute walk to Robert R. Ovrom Park
About This Home
As of June 2023We are pleased to present this rare offering of 35 total units between three contiguous properties all with separate APNs (12-unit, 12-unit, and 11-unit), located at 328, 336, and 342 East Providencia Avenue in Burbank, CA. These properties have never been sold with the sellers being the original developers back in 1988. All three of these buildings were built in 1988, and they sit on a combined 0.60 acres of land with 26,100 total building square feet,. They offer a strong unit mix of (8) studios, (18) 1 bed / 1 bath units, (4) 2 bed / 2 bath units, (4) 3 bed / 2 bath units, and (1) 3 bed / 2.5 bath unit. The buyer of this property will be able to assume the Seller's loan from Chase Bank. This loan has an outstanding loan balance of about $6,680,000, and it comes with a very attractive 4.10% interest rate (principal and interest payments). This interest rate is fixed until January 2027, about 3.5 more years, which is plenty long enough to outlast the likely recession around the corner. With the loan's interest rate being well below the current CAP rate of 4.80%, this is a very rare opportunity for a buyer to obtain positive leverage while weathering any market storm ahead.
Last Agent to Sell the Property
Marcus & Millichap License #01905352 Listed on: 04/06/2023
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1988
Lot Details
- 0.61
Home Design
- 26,100 Sq Ft Home
Bedrooms and Bathrooms
- 41 Bedrooms
- 43 Bathrooms
Parking
- 52 Parking Spaces
- Assigned Parking
Utilities
- Air Conditioning
- Central Heating
Additional Features
- Leased Washer and Dryer
- 0.61 Acre Lot
Listing and Financial Details
- Tenant pays for gas, electricity
- The owner pays for water, gardener
- Assessor Parcel Number 2453-030-048
Community Details
Overview
- 3 Buildings
- 35 Units
Additional Features
- Laundry Facilities
- Vacancy Allowance $26,465
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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 |
|---|---|---|---|---|
| 06/21/2023 06/21/23 | Sold | $12,225,000 | -3.7% | $468 / Sq Ft |
| 05/01/2023 05/01/23 | Pending | -- | -- | -- |
| 04/06/2023 04/06/23 | For Sale | $12,700,000 | -- | $487 / 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 | $40,642 | $3,667,410 | $1,893,528 | $1,773,882 |
| 2024 | $40,642 | $3,595,500 | $1,856,400 | $1,739,100 |
| 2023 | $11,665 | $946,941 | $189,382 | $757,559 |
| 2022 | $11,170 | $928,374 | $185,669 | $742,705 |
| 2021 | $11,092 | $910,172 | $182,029 | $728,143 |
| 2019 | $10,672 | $886,628 | $176,631 | $709,997 |
| 2018 | $10,479 | $869,312 | $173,168 | $696,144 |
| 2017 | $10,231 | $848,885 | $169,773 | $679,112 |
| 2016 | $9,869 | $832,242 | $166,445 | $665,797 |
| 2015 | $9,681 | $819,742 | $163,945 | $655,797 |
| 2014 | $9,732 | $803,685 | $160,734 | $642,951 |
Source: Public Records
Agents Affiliated with this Home
-
Filip Niculete
-
Glen Scher
Seller Co-Listing Agent in 2023
Glen Scher
Marcus & Millichap
(818) 212-2700
3 in this area
51 Total Sales
Map
Source: The MLS
MLS Number: 23-259339
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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.
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