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324 E Santa Anita Ave 8 Unit Apartment Building $2,925,000 ($365,625/Unit) 6.46% Cap Rate Burbank, CA 91502
Investment Highlights
- Walking distance to restaurants
- ADU conversion potential
- Already upgraded/renovated
Executive Summary
The E. Santa Anita Ave Residences present a rare value-add opportunity in one of Burbank's most desirable rental corridors, just south of Glenoaks Blvd. This 8-unit, 6,001 sq. ft. building sits on an oversized 8,978 sq. ft. lot and features an efficient mix of two 2BR/1BA units and six 1BR/1BA units. Units have already been modernized with stainless-steel appliances, wood flooring, and upgraded bathroom vanities. Ownership has also completed major system upgrades, including electrical, reducing near-term maintenance exposure for a new investor. Built in 1957, the property is subject to AB 1482, allowing approximately 8% annual rent increases. Eight parking spaces (including tandem), and a rear garage with ADU conversion potential, this asset offers multiple avenues for forced appreciation. This is an exceptional chance to acquire a trophy multifamily asset in a prime, low-vacancy Burbank neighborhood with strong long-term fundamentals.
Financial Summary (Actual - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $2,925,000 | Apartment Style | Low-Rise |
| Price Per Unit | $365,625 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.20 AC |
| Cap Rate | 6.46% | Building Size | 6,001 SF |
| Gross Rent Multiplier | 12.85 | Average Occupancy | 100% |
| No. Units | 8 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1957 |
| Property Subtype | Apartment | Parking Ratio | 1.66/1,000 SF |
| Zoning | BUR4* - restricted Density Multiple Dwelling | ||
| Price | $2,925,000 |
| Price Per Unit | $365,625 |
| Sale Type | Investment |
| Cap Rate | 6.46% |
| Gross Rent Multiplier | 12.85 |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.20 AC |
| Building Size | 6,001 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1957 |
| Parking Ratio | 1.66/1,000 SF |
| Zoning | BUR4* - restricted Density Multiple Dwelling |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 6 | - | 750 |
| 2+1.5 | 2 | - | 950 |
1 1
Walk Score®
Walker's Paradise (92)
Property Taxes
| Parcel Number | 2453-029-008 | Total Assessment | $2,646,130 (2025) |
| Land Assessment | $1,067,737 (2025) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $1,578,393 (2025) | Tax Year | 2024 |
Property Taxes
Parcel Number
2453-029-008
Land Assessment
$1,067,737 (2025)
Improvements Assessment
$1,578,393 (2025)
Total Assessment
$2,646,130 (2025)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2024
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