NOT LISTED FOR SALE

540 N Florence St Burbank, CA 91505

Magnolia Park Neighborhood
16 Beds
4 Baths
8,333 Sq Ft
7,452 Sq Ft Lot

Last Sold August 29, 2014

Last sale price $2,376,000 $285 Per Sq Ft

28 Days on Market

About This Home

As of August 2014

Property is part of a probate sale and as such is subject to Court Confirmation.540 N Florence is an 11 unit apartment building located in the heart of Burbank, CA. As such, the property is not subject to Rent Control and a new buyer can immediately achieve rental potential. The unit mix consists of five 2 bedroom and six 1 bedroom units, a highly desirable unit mix. The building is very well maintained, the rents are currently at 68% of market rent. Some extensive renovations may achieve some even higher rents.The corner lot is very highly visible and the foliage both in front of the building and on Florence Blvd make this a very desirable place for tenants to live. An owner should have no trouble getting premium rents. NBC, ABC, Disney & Warner Bros. are the chief employers of the area. Tenants will have access to local restaurants, shopping and amenities, including Porto's Bakery, Burbank Town Center and Bob Hope Airport.

Last Agent to Sell the Property

Jeff Louks

Marcus & Millichap License #00908473 Listed on: 05/28/2014

Last Buyer's Agent

Christopher Baer

Avison Young – Southern CA LTD License #00875482

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1960

Lot Details

  • 7,452 Sq Ft Lot

Home Design

  • 8,333 Sq Ft Home

Bedrooms and Bathrooms

  • 16 Bedrooms
  • 4 Bathrooms

Parking

  • 20 Parking Spaces
  • Gated Parking

Community Details

  • 11 Units

Listing and Financial Details

  • Assessor Parcel Number 2479-019-001

Property Details

Home Type

Multi-Family

Year Built

Built in 1960

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Street Number Display: Yes
  • Living Area: 8333
  • Probate: Yes
  • Year Built: 1960
  • Number Of Photos: 1
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Stories: 0

Interior Features

  • Bedrooms: 16
  • Dining Room: 0
  • Family Room: 0
  • Total Bathrooms: 4.00
  • Den: 0
  • Price Per S Q F T: 216.01

Exterior Features

  • Tennis Court Y/N: No
  • Pool: No
  • View: No

Garage/Parking

  • Parking Garage: Gated
  • Total Parking: 20

Lot Info

  • Assessed Improvement Value: 555495
  • Assessed Land Value: 238065
  • Assessor Parcel Number: 2479-019-001
  • Geocode Override: No
  • Lot Size Area: 7452

Rental Info

  • Court Approve: Yes

Multi Family

  • Unit Type: 2106, 2107, 2108, 2109, 2110, 2111, 2112, 2113, 2114, 2115, 2116
  • Gross Rent Multiplier: 15.13
  • Number Of Units: 11
  • Total Annual Expense: 54918
  • Type Of Units: Apartments
  • Vacancy Rate: 0

Range of Values:

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Average Value
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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 Change Sq Ft Price
08/26/2024 08/26/24 For Rent -- -- --
08/29/2014 08/29/14 Sold $2,376,000 +32.0% $285 / Sq Ft
06/25/2014 06/25/14 Pending -- -- --
05/28/2014 05/28/14 For Sale $1,800,000 -- $216 / Sq Ft
Source: The MLS

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Jeff Louks

    Seller's Agent in 2014

    Jeff Louks

    Marcus & Millichap

    (818) 212-2700

    64 Total Sales

    Section Image
  • Christopher Baer

    Buyer's Agent in 2014

    Christopher Baer

    Avison Young – Southern CA LTD

    (818) 939-1259

    1 Total Sale

    Section Image
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Map

Source: The MLS

MLS Number: 14-764741

The MLS

California Los Angeles County Burbank 91505 Magnolia Park

540 N Florence St, Burbank, CA

This home is located at 540 N Florence St, Burbank, CA 91505 since 28 May 2014. This property was built in 1960. 540 N Florence St is a home located in Los Angeles County with nearby schools including Dolores Huerta Middle School, John Burroughs High School, and Burbank Montessori Academy.

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The MLS © 2025 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.
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