Seller's Agent in 2014
Jeff Louks
Marcus & Millichap
(818) 212-2700
67 Total Sales
540 N Florence St Burbank, CA 91505
Magnolia Park Neighborhood
16
Beds
4
Baths
8,333
Sq Ft
7,405
Sq Ft Lot
About This Home
As of August 2014Property 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
Marcus & Millichap License #00908473 Listed on: 05/28/2014
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
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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 |
|---|---|---|---|---|
| 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
| 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 | $32,221 | $2,855,588 | $1,713,834 | $1,141,754 |
| 2024 | $32,221 | $2,799,597 | $1,680,230 | $1,119,367 |
| 2023 | $31,887 | $2,744,704 | $1,647,285 | $1,097,419 |
| 2022 | $30,477 | $2,690,887 | $1,614,986 | $1,075,901 |
| 2021 | $30,340 | $2,638,125 | $1,583,320 | $1,054,805 |
| 2019 | $29,140 | $2,563,178 | $1,536,358 | $1,026,820 |
| 2018 | $28,908 | $2,512,985 | $1,506,234 | $1,006,751 |
| 2016 | $27,378 | $2,412,233 | $1,447,746 | $964,487 |
| 2015 | $26,835 | $2,376,000 | $1,426,000 | $950,000 |
| 2014 | -- | $797,161 | $239,145 | $558,016 |
Source: Public Records
Agents Affiliated with this Home
-
Jeff Louks
-
Christopher Baer
Buyer's Agent in 2014
Christopher Baer
Avison Young – Southern CA LTD
(818) 939-1259
2 Total Sales
Map
Source: The MLS
MLS Number: 14-764741
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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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