NOT LISTED FOR SALE

606 E Cypress Ave Burbank, CA 91501

Hillside District Neighborhood
6 Beds
5 Baths
3,326 Sq Ft
7,609 Sq Ft Lot

Last Sold November 20, 2023

Last sale price $1,500,000 $451 Per Sq Ft

1 Day on Market

Highlights

  • No Units Above
  • All Bedrooms Downstairs
  • Wood Flooring
  • Ralph Emerson Elementary School Rated A-
  • Traditional Architecture
  • Private Yard

About This Home

As of November 2023

Ideally located close to Downtown Burbank in the highly sought-after neighborhood between Glenoaks Blvd and Kenneth Rd, this well maintained five-unit income property has been in the same family since it was built in 1950. Units such as these are a rare gem and present an outstanding opportunity for investors and discerning buyers. The property consists of one two-bedroom, one-bathroom unit plus four additional one-bedroom, one-bathroom units. Four of the units are attached and there is one unit that sits above the garages. The units feature wonderful hardwood flooring and charming 1950's tile in the bathrooms and kitchens. The plumbing has been upgraded to PEX pipes. Currently all the units are tenant occupied and each tenant has one enclosed garage space, accessed from the alley behind the building, (There are two, 2-car garages and one, 1-car garage). There is a separate laundry room with coin operated machines that will be included in the sale. Please note that all units are currently rented and the interior photos displayed were taken prior to the last tenant occupying the unit. Units will be sold in an as-is condition. Don't miss the chance to own this remarkable property with convenient accessibility to Burbank's highly rated schools, the Burbank studios, Burbank Town Center, parks, fine dining and entertainment centers.

Last Agent to Sell the Property

Jenan Musulli

Coldwell Banker Realty License #01438002 Listed on: 09/26/2023

Coldwell Banker Realty

Co-Listed By

George Musulli

Coldwell Banker Realty License #00769903

Last Buyer's Agent

Arsen Kobramasihi

Equity Union License #01257621

Equity Union

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1950

Lot Details

  • 7,609 Sq Ft Lot
  • No Units Above
  • No Units Located Below
  • Two or More Common Walls
  • West Facing Home
  • Partially Fenced Property
  • Sprinklers on Timer
  • Private Yard
  • Lawn

Parking

  • 5 Car Garage
  • Parking Available

Home Design

  • 3,326 Sq Ft Home
  • Traditional Architecture
  • Apartment
  • Raised Foundation
  • Frame Construction
  • Composition Roof
  • Stucco

Flooring

  • Wood
  • Tile

Bedrooms and Bathrooms

  • 6 Bedrooms
  • All Bedrooms Down
  • 5 Bathrooms

Laundry

  • Laundry Room
  • Dryer
  • Washer

Home Security

  • Carbon Monoxide Detectors
  • Fire and Smoke Detector

Utilities

  • Cooling System Mounted To A Wall/Window
  • Floor Furnace
  • Wall Furnace
  • Natural Gas Connected

Additional Features

  • Gas Oven
  • Urban Location

Listing and Financial Details

  • Tenant pays for electricity, gas, trash collection
  • Legal Lot and Block 18 / 21
  • Tax Tract Number 310
  • Assessor Parcel Number 2455039011

Community Details

Overview

  • 2 Buildings
  • 5 Units

Amenities

  • Laundry Facilities

Building Details

  • 5 Leased Units
  • 6 Separate Electric Meters
  • 6 Separate Gas Meters
  • Gardener Expense $2,275
  • Insurance Expense $2,934
  • Maintenance Expense $6,681
  • Other Expense $2,196
  • Pest Control $528
  • Supplies Expense $214
  • Water Sewer Expense $1,315
  • New Taxes Expense $1
  • Operating Expense $16,143
  • Gross Income $84,000
  • Net Operating Income $67,857

Property Details

Home Type

Multi-Family

Year Built

Built in 1950

Lot Details

0

Parking

5

Listing Details

  • Assessments: No
  • CapRate: 4.30
  • Inclusions: Coin Operated Washer/Dryer, ovens, refrigerators
  • Property Attached: Yes
  • Road Frontage Type: City Street
  • Security: Carbon Monoxide Detector(s), Smoke Detector(s)
  • Supplies Expense: 214.00
  • View: No
  • Water Sewer Expenses: 1315.00
  • Zoning: BUR4
  • Architectural Style: Traditional
  • Property Sub Type: Apartment
  • Property Type: Residential Income
  • Gardener Expense: 2275.00
  • Parcel Number: 2455039011
  • Year Built: 1950
  • Special Features: None

Interior Features

  • Fireplace: No
  • Common Walls: 2+ Common Walls, No One Above, No One Below
  • Flooring: Tile, Wood
  • Appliances: Yes
  • Levels: One
  • Price Per Square Foot: 471.74
  • Room Type: All Bedrooms Down

Exterior Features

  • Direction Faces: West
  • Foundation: Raised
  • Fence: Yes
  • Fencing: Partial
  • Pool Private: No
  • Roof: Composition
  • Spa: No
  • Construction Materials: Frame, Stucco

Garage/Parking

  • Garage Spaces: 5.00
  • Parking: Yes
  • Parking Features: Garage
  • Total Parking Spaces: 5.00

Utilities

  • Utilities: Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
  • Sprinklers: Yes
  • Heating: Yes
  • Laundry: Yes
  • Appliances: Gas Oven, Refrigerator
  • Heating Type: Floor Furnace, Wall Furnace
  • Laundry Features: Community, Dryer Included, Individual Room, Washer Included
  • Pest Control Expense: 528.00
  • Sewer: Public Sewer
  • Water Source: Public
  • Cooling: Wall/Window Unit(s)
  • Cooling: Yes

Condo/Co-op/Association

  • Senior Community: No
  • Community Features: Curbs, Urban

Lot Info

  • Land Lease: No
  • Lot Features: Lawn, Sprinklers Timer, Yard
  • Lot Size Sq Ft: 7609.00
  • Lot Size Acres: 0.1747

Rental Info

  • Tenant Pays: Electricity, Gas, Trash Collection

Multi Family

  • Average1 Bed Area: 605 Square Feet
  • Average2 Bed Area: 900 Square Feet
  • Gross Income: 84000.00
  • Gross Multiplier: 18.68
  • Gross Scheduled Income: 84000.00
  • Insurance Expense: 2934.00
  • Laundry Equipment Own Lease: Own
  • Lot Size Area: 7609.0000 Square Feet
  • Maintenance Expense: 6681.00
  • Net Operating Income: 67857.00
  • Number Of Separate Electric Meters: 6
  • Number Of Separate Gas Meters: 6
  • Number Of Units Leased: 5
  • Number Of Units Total: 5
  • Operating Expense: 16143.00
  • Other Expense: 2196.00
  • Other Expense Description: Trash paid by tenants, water paid by owner
  • Rent Control: No
  • Total Actual Rent: 84000.00
  • Total Expenses: 16143.00

Tax Info

  • New Taxes Expense: 1.25
  • Tax Block: 21
  • Tax Lot: 18
  • Tax Tract Number: 310...

Range of Values:

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Value Increase
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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
11/20/2023 11/20/23 Sold $1,500,000 -4.4% $451 / Sq Ft
09/25/2023 09/25/23 For Sale $1,569,000 -- $472 / Sq Ft
Source: Pasadena-Foothills Association of REALTORS®

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Jenan Musulli

    Seller's Agent in 2023

    Jenan Musulli

    Coldwell Banker Realty

    (626) 318-7118

    1 in this area

    121 Total Sales

    Jenan Musulli
    Section Image

  • G

    Seller Co-Listing Agent in 2023

    George Musulli

    Coldwell Banker Realty

    (626) 318-7119

    1 in this area

    129 Total Sales

    George Musulli
    Section Image

  • A

    Buyer's Agent in 2023

    Arsen Kobramasihi

    Equity Union

    (818) 434-6429

    6 in this area

    26 Total Sales

    Arsen Kobramasihi
    Section Image
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Map

Source: Pasadena-Foothills Association of REALTORS®

MLS Number: P1-15200

Pasadena-Foothills Association of REALTORS®
California Los Angeles County Burbank 91501 Hillside District

606 E Cypress Ave, Burbank, CA

Not Listed for Sale

MultiFamily

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