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Hillside Apartments 470 E Angeleno Ave 44 Unit Apartment Building $11,500,000 ($261,364/Unit) 5.37% Cap Rate Burbank, CA 91501
INVESTMENT HIGHLIGHTS
- Prime Location in the Heart of Burbank
- Well-Maintained 44-Unit Building With Attractive Amenities
- Supply-Constrained Market With High Tenant Demand
- Strong Value-Add Potential With Below-Market Rents
- Desirable Mix of One- and Two-Bedroom Units
- Burbank – One of Southern California’s Most Stable Submarkets
EXECUTIVE SUMMARY
Marcus & Millichap is pleased to present the opportunity to acquire a 44-unit multifamily community located at 470 East Angeleno Avenue in the heart of Burbank, California. The property sits just two blocks from Downtown Burbank and within walking distance to shopping, dining, entertainment, and major employment centers. Built in 1964 and meticulously maintained, the building offers a mix of spacious one- and two-bedroom floor plans averaging ±875 square feet, many of which have been updated with modern finishes, hardwood-style flooring, and stainless steel appliances.
Set on a ±0.73-acre parcel, the property features secure access, an elevator-served central corridor, on-site laundry facilities, covered parking, and an attractive courtyard with mature landscaping. The asset is separately metered for gas and electricity, reducing ongoing ownership costs. Current rents are approximately 15–20% below market, providing immediate upside through turnover and light unit renovation.
Burbank remains one of the strongest rental markets in Los Angeles County, anchored by Walt Disney Studios, Warner Bros., and the city’s thriving media and technology sectors. With limited new supply and sustained demand from well-paid entertainment and creative professionals, this offering represents a rare opportunity to acquire a well-located, institutional-quality multifamily asset in a premier Los Angeles submarket with significant income growth potential.
Set on a ±0.73-acre parcel, the property features secure access, an elevator-served central corridor, on-site laundry facilities, covered parking, and an attractive courtyard with mature landscaping. The asset is separately metered for gas and electricity, reducing ongoing ownership costs. Current rents are approximately 15–20% below market, providing immediate upside through turnover and light unit renovation.
Burbank remains one of the strongest rental markets in Los Angeles County, anchored by Walt Disney Studios, Warner Bros., and the city’s thriving media and technology sectors. With limited new supply and sustained demand from well-paid entertainment and creative professionals, this offering represents a rare opportunity to acquire a well-located, institutional-quality multifamily asset in a premier Los Angeles submarket with significant income growth potential.
PROPERTY FACTS
| Price | $11,500,000 | Building Class | C |
| Price Per Unit | $261,364 | Lot Size | 0.52 AC |
| Sale Type | Investment | Building Size | 33,273 SF |
| Cap Rate | 5.37% | Average Occupancy | 100% |
| No. Units | 44 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1963 |
| Property Subtype | Apartment | Parking Ratio | 0.84/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | R4 | ||
| Price | $11,500,000 |
| Price Per Unit | $261,364 |
| Sale Type | Investment |
| Cap Rate | 5.37% |
| No. Units | 44 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.52 AC |
| Building Size | 33,273 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1963 |
| Parking Ratio | 0.84/1,000 SF |
| Zoning | R4 |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Balcony
- Cable Ready
- Microwave
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Carpet
SITE AMENITIES
- 24 Hour Access
- Laundry Facilities
- Recycling
- Walk-Up
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 28 | - | - |
| 1+1 | 13 | - | - |
| 2+1 | 3 | - | - |
1 1
Walk Score®
Walker's Paradise (92)
PROPERTY TAXES
| Parcel Number | 2455-013-019 | Improvements Assessment | $4,992,820 |
| Land Assessment | $1,946,883 | Total Assessment | $6,939,703 |
PROPERTY TAXES
Parcel Number
2455-013-019
Land Assessment
$1,946,883
Improvements Assessment
$4,992,820
Total Assessment
$6,939,703
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Hillside Apartments | 470 E Angeleno Ave
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