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1814 Grismer Ave 14 Unit Apartment Building $4,675,000 ($333,929/Unit) 5.33% Cap Rate Burbank, CA 91504
Investment Highlights
- Desirable Burbank Location
- Recent Roof Replacement
- Rents Close to Market Rate
- Subject to State (AB 1482) Rent Control
- New Electrical Main Panel
Executive Summary
1814 Grismer Avenue is a turn-key fourteen (14) unit apartment building located in Burbank. Considered the "media capital of the world," Burbank is a major center of the entertainment industry and home to several prominent film and television studios. The opportunity consists of two (2) studio units, ten (10) one-bedroom units and two (2) two-bedroom/two-bathroom units. Additionally, amenities include on-site parking for almost all the units and a gated pool. Lastly, the building has undergone recent capital improvements including a new roof and a new main electrical panel. The city of Burbank does not have traditional rent control but operated under state law (AB 1482). Buyer to verify.
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$381,240
|
$38.49
|
| Other Income |
$1,350
|
$0.14
|
| Vacancy Loss |
$11,437
|
$1.15
|
| Effective Gross Income |
$371,153
|
$37.47
|
| Taxes |
$56,100
|
$5.66
|
| Operating Expenses |
$65,628
|
$6.63
|
| Total Expenses |
$121,728
|
$12.29
|
| Net Operating Income |
$249,425
|
$25.18
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $381,240 |
| Annual Per SF | $38.49 |
| Other Income | |
|---|---|
| Annual | $1,350 |
| Annual Per SF | $0.14 |
| Vacancy Loss | |
|---|---|
| Annual | $11,437 |
| Annual Per SF | $1.15 |
| Effective Gross Income | |
|---|---|
| Annual | $371,153 |
| Annual Per SF | $37.47 |
| Taxes | |
|---|---|
| Annual | $56,100 |
| Annual Per SF | $5.66 |
| Operating Expenses | |
|---|---|
| Annual | $65,628 |
| Annual Per SF | $6.63 |
| Total Expenses | |
|---|---|
| Annual | $121,728 |
| Annual Per SF | $12.29 |
| Net Operating Income | |
|---|---|
| Annual | $249,425 |
| Annual Per SF | $25.18 |
Property Facts
| Price | $4,675,000 | Apartment Style | Low-Rise |
| Price Per Unit | $333,929 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.23 AC |
| Cap Rate | 5.33% | Building Size | 9,906 SF |
| Gross Rent Multiplier | 12.26 | Average Occupancy | 86% |
| No. Units | 14 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1961 |
| Property Subtype | Apartment | Parking Ratio | 1.21/1,000 SF |
| Zoning | R4, Burbank | ||
| Price | $4,675,000 |
| Price Per Unit | $333,929 |
| Sale Type | Investment |
| Cap Rate | 5.33% |
| Gross Rent Multiplier | 12.26 |
| No. Units | 14 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.23 AC |
| Building Size | 9,906 SF |
| Average Occupancy | 86% |
| No. Stories | 2 |
| Year Built | 1961 |
| Parking Ratio | 1.21/1,000 SF |
| Zoning | R4, Burbank |
Amenities
Unit Amenities
- Air Conditioning
- Kitchen
- Refrigerator
- Range
- Tub/Shower
Site Amenities
- 24 Hour Access
- Controlled Access
- Laundry Facilities
- Tenant Controlled HVAC
- Walk-Up
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 2 | $1,825 | 450 |
| 1+1 | 10 | $2,247 | 600 |
| 2+2 | 2 | $2,825 | 800 |
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Moderately walkable
60/100
Exceptionally drivable
90/100
Some public transit
40/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 2468-005-023 | Total Assessment | $4,247,739 |
| Land Assessment | $1,694,453 | Annual Taxes | $56,100 ($5.66/SF) |
| Improvements Assessment | $2,553,286 | Tax Year | 2025 |
Property Taxes
Parcel Number
2468-005-023
Land Assessment
$1,694,453
Improvements Assessment
$2,553,286
Total Assessment
$4,247,739
Annual Taxes
$56,100 ($5.66/SF)
Tax Year
2025
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1814 Grismer Ave
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