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Villa Bonita Condominiums 1101 East Ave 10 Unit Apartment Building $7,500,000 ($750,000/Unit) 4.07% Cap Rate Burbank, CA 91504
Investment Highlights
- Trophy Property, Built 2009
- Prime Central Burbank location
- Gated entrance & parking. 23 semi-subterranean spaces
- 10 separately parceled condominiums
- 10 large units: 7- 2bed/2.5bath TH (average 1,338 sq ft); 3- 3bed/3bath TH (average 1,858 sq ft)
- Each unit has washer/dryers, central A/C and heat, balconies and patios and a gas fireplace
Executive Summary
“Villa Bonita Condominiums” are a pride of ownership, turnkey, two story over parking, 10-unit condominium building. Constructed in 2009 with a flat, rolled composition shingled roof, some pitched concrete tile shingles, and a concrete pier foundation. The “Villa Bonita Condominiums” are 10 individually parceled condominiums that are currently rented to individual tenants. With 10 separate tax ID’s, a new owner can either continue to operate the project in its current form or sell the individual units as condos in the future. Operating as 1101 East Avenue Association, these fully completed condominium units are all owned by the current owner and rented individually. Seller to provide all HOA, CC&R, Bylaws, Certification of completion, White-Slip Condo docs and any other pertinent recorded documents. Buyer to perform its own investigations during the contingency period and make independent verifications and approvals. Amenities: Luxury units, built as condominiums. High end finishes and stainless-steel appliances, including dishwashers. Granite counters, laminate flooring in common areas, carpeted bedrooms. All units have a patio or balcony; gas fireplace; and washer dryers in the unit. Additionally, all units are equipped with individual tankless-water heaters. Tenants enjoy gated entrance and parking. There is a wheelchair lift from the parking garage to the first floor. Rent Control: As of early 2026, the City of Burbank does not have traditional rent control but operates under state law (AB 1482) and local "soft cap" ordinances.
Financial Summary (Actual - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $7,500,000 | Apartment Style | Low-Rise |
| Price Per Unit | $750,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.41 AC |
| Cap Rate | 4.07% | Building Size | 15,535 SF |
| Gross Rent Multiplier | 15.6 | Average Occupancy | 100% |
| No. Units | 10 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 2009 |
| Property Subtype | Apartment | Parking Ratio | 1.48/1,000 SF |
| Zoning | BUR4* | ||
| Price | $7,500,000 |
| Price Per Unit | $750,000 |
| Sale Type | Investment |
| Cap Rate | 4.07% |
| Gross Rent Multiplier | 15.6 |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.41 AC |
| Building Size | 15,535 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 2009 |
| Parking Ratio | 1.48/1,000 SF |
| Zoning | BUR4* |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+2.5 | 7 | $3,653 | - |
| 3+3 | 3 | $4,500 | - |
1 1
Moderately walkable
60/100
Very drivable
80/100
Some public transit
40/100
Fairly bikeable
40/100
Property Taxes
| Parcel Numbers | Total Assessment | $7,038,000 | |
| Land Assessment | $3,631,200 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $3,406,800 | Tax Year | 2025 |
Property Taxes
Parcel Numbers
Land Assessment
$3,631,200
Improvements Assessment
$3,406,800
Total Assessment
$7,038,000
Annual Taxes
($1) ($0.00/SF)
Tax Year
2025
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Villa Bonita Condominiums | 1101 East Ave
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