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1800 Grismer Ave
Burbank, CA 91504
Metropolitan Place Apartments · Multifamily Property For Sale
·
54 Units
PROPERTY FACTS
| No. Units | 54 | Building Size | 56,557 SF |
| Property Type | Multifamily | Average Occupancy | 91% |
| Property Subtype | Apartment | No. Stories | 3 |
| Apartment Style | Low-Rise | Year Built/Renovated | 1987/2009 |
| Building Class | B | Parking Ratio | 1.64/1,000 SF |
| Lot Size | 0.92 AC | ||
| Zoning | R4* | ||
| No. Units | 54 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.92 AC |
| Building Size | 56,557 SF |
| Average Occupancy | 91% |
| No. Stories | 3 |
| Year Built/Renovated | 1987/2009 |
| Parking Ratio | 1.64/1,000 SF |
| Zoning | R4* |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Tub/Shower
SITE AMENITIES
- Courtyard
- Fitness Center
- Property Manager on Site
- Spa
- Gated
- Grill
ABOUT 1800 GRISMER AVE , BURBANK, CA 91504
Institutional Property Advisors, as the exclusive listing agent, is pleased to present the opportunity to acquire Metropolitan Place, a high-quality 54-unit multifamily asset located in Burbank, CA. Metropolitan Place was built in 1987 and is comprised of 54 units (53 + 1 non-conforming unit), totaling 45,285 net rentable square feet. The offering presents a rare opportunity to acquire a sizeable footprint in Burbank - an infill and highly sought-after city. To date, 9 units have been renovated to a high-end modern luxury standard. An investor will have the opportunity to renovate the remaining 45 non/partially-renovated units and achieve an approximate $290+ per unit (13%+) premium.
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 23 | - | 695 |
| 2+1 | 3 | - | 875 |
| 2+2 | 28 | - | 950 - 975 |
PROPERTY TAXES
| Parcel Number | 2468-005-065 | Improvements Assessment | $7,257,200 |
| Land Assessment | $7,881,122 | Total Assessment | $15,138,322 |
PROPERTY TAXES
