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271 W Ash Ave 4 Unit Apartment Building $1,999,000 ($499,750/Unit) 4.80% Cap Rate Burbank, CA 91502
INVESTMENT HIGHLIGHTS
- Owner Financing Available to Qualified Buyers
- Six (6) 10' X 30' Garages
- Potential for ADU per City of Burbank
- Burbank School District
- One (1) Two (2) Car Garage attached to the House
EXECUTIVE SUMMARY
-Impeccably maintained fourplex ideal for an Owner / Investor to occupy the House and Capitalize on the Tenants in place.
-Property consists of a 2 + 1 Single Family Residence with a den and a two (2) car garage; three (3) 1 + 1 apartment units and six (6) 10 X 30 garages. Ideal for contractor, storage or potential ADU’s (Buyer to independently verify with City of Burbank)
-4.8% cap / 16 GRM at current rents and new tax base. 5.7% cap/14% GRM at proforma rents.
-Conveniently located west of the 5 freeway between Alameda and Olive.
-Burbank School District.
-Owner may finance for a qualified buyer.
-Property consists of a 2 + 1 Single Family Residence with a den and a two (2) car garage; three (3) 1 + 1 apartment units and six (6) 10 X 30 garages. Ideal for contractor, storage or potential ADU’s (Buyer to independently verify with City of Burbank)
-4.8% cap / 16 GRM at current rents and new tax base. 5.7% cap/14% GRM at proforma rents.
-Conveniently located west of the 5 freeway between Alameda and Olive.
-Burbank School District.
-Owner may finance for a qualified buyer.
PROPERTY FACTS
| Price | $1,999,000 | Apartment Style | Low-Rise |
| Price Per Unit | $499,750 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.16 AC |
| Cap Rate | 4.80% | Building Size | 2,824 SF |
| Gross Rent Multiplier | 17 | Average Occupancy | 100% |
| No. Units | 4 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1938 |
| Property Subtype | Apartment | Parking Ratio | 4.96/1,000 SF |
| Zoning | BUR4* | ||
| Price | $1,999,000 |
| Price Per Unit | $499,750 |
| Sale Type | Investment |
| Cap Rate | 4.80% |
| Gross Rent Multiplier | 17 |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.16 AC |
| Building Size | 2,824 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1938 |
| Parking Ratio | 4.96/1,000 SF |
| Zoning | BUR4* |
AMENITIES
UNIT AMENITIES
- Air Conditioning
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 3 | - | - |
| 2+1 | 1 | - | - |
1 1
Walk Score®
Very Walkable (82)
Bike Score®
Very Bikeable (74)
PROPERTY TAXES
| Parcel Number | 2451-033-006 | Improvements Assessment | $165,548 |
| Land Assessment | $146,844 | Total Assessment | $312,392 |
PROPERTY TAXES
Parcel Number
2451-033-006
Land Assessment
$146,844
Improvements Assessment
$165,548
Total Assessment
$312,392
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271 W Ash Ave
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