507 E Cedar Ave
Burbank, CA 91501
Multifamily Property For Sale
·
20 Units
Property Facts
| No. Units | 20 | Lot Size | 0.35 AC |
| Property Type | Multifamily | Building Size | 16,816 SF |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Low-Rise | Year Built | 1989 |
| Building Class | C | Parking Ratio | 1.78/1,000 SF |
| Zoning | BUR4* - Business/Urban | ||
| No. Units | 20 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.35 AC |
| Building Size | 16,816 SF |
| No. Stories | 2 |
| Year Built | 1989 |
| Parking Ratio | 1.78/1,000 SF |
| Zoning | BUR4* - Business/Urban |
Amenities
Unit Amenities
- Heating
- Kitchen
- Range
About 507 E CEDAR AVE , BURBANK, CA 91501
Marcus & Millichap is pleased to present a rare opportunity to acquire a twenty (20) unit apartment building located at 623 E Cedar Ave above Glenoaks Blvd in Burbank. The subject property has a balanced unit mix featuring six (6) 1 bed/ 1 bath units, and fourteen (14) 2 bed/ 2 bath units. This property was originally constructed in 1989 and is available for sale for the first time. The subject property features pitched roofs, secured entry and parking (30 spaces), copper plumbing, central HVAC, central hot water heater, and alley access. It also features an on-site laundry room which is owned and not leased. Only two of the units have been updated with newer floors and cabinets. This is an excellent opportunity for an investor to acquire an apartment opportunity in a prime location with approximately 23% +/- rental upside which can be achieved through unit renovations and rental increases.
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 6 | - | 600 - 650 |
| 2+1 | 14 | - | 900 - 950 |
Property Taxes
| Parcel Number | 5621-022-067 | Improvements Assessment | $4,881,285 |
| Land Assessment | $3,254,189 | Total Assessment | $8,135,474 |
Property Taxes
