1814 Grismer Ave 14 Unit Apartment Building $4,899,000 ($349,929/Unit) 5.27% Cap Rate Burbank, CA 91504

Marcus & Millichap is pleased to present 1814 Grismer Avenue, a 14-unit multifamily investment ideally positioned in North Burbank, one of Southern California’s most consistently sought-after rental markets. Tucked within a quiet residential pocket just minutes from Thomas Jefferson Elementary School, John Muir Middle School, and McCambridge Park & Recreation Center. A gated pool area provides an inviting space for residents to swim, sunbathe, and BBQ—an increasingly scarce amenity that enhances tenant satisfaction and long-term retention. The property also features a large on-site laundry room with seller-owned machines, allowing a new owner to enjoy immediate income without the burden of third-party leases.
Constructed in 1961, the property spans approximately 9,906 square feet and is comprised of 10 one-bedroom/one-bath units, 2 two-bedroom/two-bath units, and 2 studio units. All units are separately metered for gas and electricity. Over the years, ownership has completed meaningful capital improvements, including roof replacement, upgraded windows, and a new main electrical panel, positioning the asset for stable performance with limited near-term capital needs.
Strategically located north of the I-5 Freeway and west of North Glenoaks Boulevard, 1814 Grismer Avenue benefits from immediate access to premier retail and employment centers. The Burbank Empire Center, Burbank Town Center, and Costco Wholesale are all within approximately one mile. Glenoaks Boulevard and San Fernando Boulevard serve as major commercial corridors offering a diverse mix of dining, shopping, and professional services. Commuters enjoy seamless connectivity via the I-5 and CA-134 freeways, placing Studio City, Glendale, Los Feliz, Atwater Village, North Hollywood, Downtown Los Angeles, and the San Gabriel Valley all within easy reach.
Located in the City of Burbank, the property may face a pending soft cap of 4% yearly rent increases. However, AB 1482 allows for more favorable rental increases compared to the City of Los Angeles or unincorporated Los Angeles County—creating a compelling environment for both cash flow stability and long-term growth.