Prime Burbank | Newer Roof and Plumbing 2912 W Riverside Dr 4 Unit Apartment Building $1,875,000 ($468,750/Unit) 4.06% Cap Rate Burbank, CA 91505

Marcus & Millichap is pleased to announce the opportunity to purchase 2912 W Riverside Drive, a four-unit multifamily property in Burbank, CA. Given its prime location in the heart of the Burbank Media Center, directly between Warner Bros Studios and Walt Disney Studios, the property grants its tenants convenient access to several major media employers. Because the property is subject only to Burbank’s local rent ordinance, an investor can benefit from higher allowable rent increases and more favorable landlord privileges when compared with similar properties in Los Angeles.
Each of the units contains its own in-unit washer/dryer and has its own parking garage, with these amenities helping to attract higher-paying tenants. The roof was recently replaced and the plumbing has been upgraded with copper pipes. A new owner may potentially add significant value by constructing new ADUs on the property as well, given its existing parking garages and additional open parking area (Buyer to verify).
In addition to the numerous studios within Burbank, including Walt Disney Imagineering, Nickelodeon Studios, Dreamworks Animation, and Cartoon Network, the property allows tenants comfortable commutes to several employers within nearby Studio City, Glendale, and Hollywood.