1819 W Alameda Ave, Burbank, CA 91506
- $7,850,000
- 40
- BD
- 40
- BA
- 19,358
- SqFt
- List Price
- $7,850,000
- MLS#
- 26865431
- Year Built
- 1986
- Bedrooms
- 40
- Bathrooms
- 40
- Living Sq. Ft
- 19,358
- Lot Size
- 16,278
- Days on Market
- 0
- Property Type
- Multifamily
- Stories
- 2
Property Description
1819 W. Alameda Ave is offered at a 6.20% cap rate and comprises 20 units in Burbank's Rancho Adjacent neighborhood, near the center of the city between Verdugo and Alameda Avenues. The unit mix includes 16 two-bedroom/two-bathroom units and 4 two-bedroom/one-bathroom units, 11 of which have already been remodeled giving new ownership a clear value-add roadmap: renovate the remaining nine units to bring them to market rent and capture the property's approximately 15% loss to lease by filling existing vacancies. Additional upside exists in monetizing the property's 40 parking spaces, which currently sit unrented.
Additional Information
- Other Buildings
- None
- Heat
- Central
- Cooling
- Ceiling Fan
- Number of Cars in Garage
- Subterranean
Mortgage Calculator
Courtesy of Dover Management Corp., Douglas Steinriede - CA DRE#00284936
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