Log In/Sign Up
Your email has been sent.
240-260 E Providencia Ave 15 Unit Apartment Building $5,600,000 ($373,333/Unit) 5.64% Cap Rate Burbank, CA 91502
INVESTMENT HIGHLIGHTS
- 15 Unit Apartment Building- 1951 Construction- Completely Renovated in 2023
- Turn Key Deal- 5.64% Day 1 Cap Rate
- Brand New Interiors-New Countertops, Cabinets, Flooring, Recessed Lighting, Washer/Dryer, Central A/C and Heat
- Huge 17,821 Square Foot Lot!
- All Major Systems Brand New- Electrical, Roof, Plumbing
- Excellent Burbank Location- Just South of Glenoaks Blvd
EXECUTIVE SUMMARY
The Sterman Multi-Family Group of Marcus & Millichap is pleased to present a 15-unit apartment property in the highly desirable city of Burbank, California. Built in 1951 and fully renovated in 2023, the property features twelve (12) one-bedroom/one-bath units, two (2) two-bedroom/one-bath units, and one (1) two-bedroom/two-bath unit, totaling approximately 9,841 square feet on a 17,821 square foot lot.
This turnkey property offers all major systems brand new, including electrical, plumbing, and roof, along with modern interiors featuring new countertops, cabinets, flooring, recessed lighting, washer/dryer, and central A/C and heat. The property delivers a 5.64% Day 1 cap rate, providing immediate income for investors.
Located just south of Glenoaks Blvd and near Downtown Burbank, residents enjoy convenient access to shopping, dining, and entertainment at Burbank Town Center, AMC Theatres, and San Fernando Boulevard, as well as proximity to major employers such as Disney, Warner Bros., and Nickelodeon Animation.
With excellent connectivity to the I-5 Freeway, Magnolia Blvd, and Metrolink stations, this property is a rare opportunity to acquire a well-located, turnkey multifamily asset in one of Los Angeles County’s most stable rental markets. Strong fundamentals, a desirable unit mix, and consistent tenant demand make it an attractive investment with upside through rent optimization.
This turnkey property offers all major systems brand new, including electrical, plumbing, and roof, along with modern interiors featuring new countertops, cabinets, flooring, recessed lighting, washer/dryer, and central A/C and heat. The property delivers a 5.64% Day 1 cap rate, providing immediate income for investors.
Located just south of Glenoaks Blvd and near Downtown Burbank, residents enjoy convenient access to shopping, dining, and entertainment at Burbank Town Center, AMC Theatres, and San Fernando Boulevard, as well as proximity to major employers such as Disney, Warner Bros., and Nickelodeon Animation.
With excellent connectivity to the I-5 Freeway, Magnolia Blvd, and Metrolink stations, this property is a rare opportunity to acquire a well-located, turnkey multifamily asset in one of Los Angeles County’s most stable rental markets. Strong fundamentals, a desirable unit mix, and consistent tenant demand make it an attractive investment with upside through rent optimization.
PROPERTY FACTS
| Price | $5,600,000 | Apartment Style | Garden |
| Price Per Unit | $373,333 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.41 AC |
| Cap Rate | 5.64% | Building Size | 9,841 SF |
| Gross Rent Multiplier | 11.95 | Average Occupancy | 100% |
| No. Units | 15 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1951/2023 |
| Property Subtype | Apartment | ||
| Zoning | BUR4* - Medium Density Multiple Residence | ||
| Price | $5,600,000 |
| Price Per Unit | $373,333 |
| Sale Type | Investment |
| Cap Rate | 5.64% |
| Gross Rent Multiplier | 11.95 |
| No. Units | 15 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.41 AC |
| Building Size | 9,841 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1951/2023 |
| Zoning | BUR4* - Medium Density Multiple Residence |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Washer/Dryer
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 12 | - | - |
| 2+1 | 2 | - | - |
| 2+2 | 1 | - | - |
1 1
Walk Score®
Walker's Paradise (90)
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $2,559,384 | |
| Land Assessment | $1,706,256 | Total Assessment | $4,265,640 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$1,706,256
Improvements Assessment
$2,559,384
Total Assessment
$4,265,640
1 of 79
VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
1 of 1
Presented by
240-260 E Providencia Ave
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.