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1101 East Ave 10 Unit Apartment Building $7,175,000 ($717,500/Unit) 4.47% Cap Rate Burbank, CA 91504
Executive Summary
Villa Bonita Condominiums is a pride-of-ownership, turnkey 10- unit condominium community located at 1101 East Avenue in Burbank, CA 91504. Built in 2009, the property offers 15,535 gross square feet across large townhome-style floorplans—seven 2- bedroom/2.5-bathroom units averaging 1,338 SF and three 3-bedroom/3-bathroom units averaging 1,858 SF. Luxury condograde finishes include stainless appliances, granite counters, gas fireplaces, central A/C and heat, and in-unit washers and dryers. Every unit features a patio or balcony, and the building is served by 23 gated semi-subterranean parking spaces (including 2 handicap) with a wheelchair lift from garage to first floor.
A defining feature of this asset is its 10 individually parceled condominium units (APNs 2459-030-019 thru 028), creating a dual-exit strategy: continue operating as rentals under the 1101 East Avenue Association, or sell units individually as condos. Seller will provide HOA/CC&R/Bylaws, Certification of Completion, and White-Slip condo docs. With no traditional Burbank rent control—only state AB 1482 and local soft-cap ordinances—and a 2009 build requiring minimal near-term capital, Villa Bonita is a compelling, low-management investment in the highly sought-after Burbank rental market.
A defining feature of this asset is its 10 individually parceled condominium units (APNs 2459-030-019 thru 028), creating a dual-exit strategy: continue operating as rentals under the 1101 East Avenue Association, or sell units individually as condos. Seller will provide HOA/CC&R/Bylaws, Certification of Completion, and White-Slip condo docs. With no traditional Burbank rent control—only state AB 1482 and local soft-cap ordinances—and a 2009 build requiring minimal near-term capital, Villa Bonita is a compelling, low-management investment in the highly sought-after Burbank rental market.
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 | $7,175,000 | Apartment Style | Low-Rise |
| Price Per Unit | $717,500 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.41 AC |
| Cap Rate | 4.47% | Building Size | 15,535 SF |
| Gross Rent Multiplier | 14.85 | Average Occupancy | 100% |
| No. Units | 10 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 2009 |
| Property Subtype | Apartment | Parking Ratio | 1.48/1,000 SF |
| Zoning | BUR4* | ||
| Price | $7,175,000 |
| Price Per Unit | $717,500 |
| Sale Type | Investment |
| Cap Rate | 4.47% |
| Gross Rent Multiplier | 14.85 |
| 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 | 1 |
| 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 | $3,678 | 1,338 |
| 3+3 | 3 | $4,500 | 1,858 |
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Moderately walkable
60/100
Very drivable
80/100
Some public transit
40/100
Fairly bikeable
40/100
Property Taxes
| Parcel Numbers | Total Assessment | $7,178,760 (2026) | |
| Land Assessment | $3,703,824 (2026) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $3,474,936 (2026) | Tax Year | 2025 |
Property Taxes
Parcel Numbers
Land Assessment
$3,703,824 (2026)
Improvements Assessment
$3,474,936 (2026)
Total Assessment
$7,178,760 (2026)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2025
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