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623 E Cedar Ave
Burbank, CA 91501
Multifamily Property For Sale
·
11 Units
PROPERTY FACTS
| No. Units | 11 | Lot Size | 0.20 AC |
| Property Type | Multifamily | Building Size | 11,429 SF |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Low-Rise | Year Built | 1984 |
| Building Class | C | Parking Ratio | 1.2/1,000 SF |
| Zoning | R4 | ||
| No. Units | 11 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.20 AC |
| Building Size | 11,429 SF |
| No. Stories | 2 |
| Year Built | 1984 |
| Parking Ratio | 1.2/1,000 SF |
| Zoning | R4 |
AMENITIES
UNIT AMENITIES
- Balcony
SITE AMENITIES
- Laundry Facilities
ABOUT 623 E CEDAR AVE , BURBANK, CA 91501
Marcus & Millichap is pleased to present a rare opportunity to acquire a 1984 construction apartment building located at 623 E Cedar Ave above Glenoaks Blvd in Burbank. This professionally managed building features a unit mix with one (1) 1 bedroom unit, and ten (10) 2 bedroom units. The building has been very well maintained: seven units have newer plank flooring, two have units granite counter tops, and five of the HVAC units have been recently replaced. The property also features a pitched roof, central HVAC, ample gated parking, individual hot water heaters and alley access. This is an opportunity for an investor to capitalize on approximately 23% +/- rental upside with minimal capital expenditure. Tenants enjoy a prime location which is close to many national retailers, the Burbank Town Center, IKEA, Burbank Empire Center, and is walking distance to Joaquin Miller Elementary School. Tenants are also within walking distance to Glenoaks Blvd. Contact listing agent for complete marketing package.
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 1 | - | 870 |
| 2+2 | 10 | - | 990 - 1,130 |
PROPERTY TAXES
| Parcel Number | 5621-021-015 | Improvements Assessment | $3,011,898 |
| Land Assessment | $2,007,932 | Total Assessment | $5,019,830 |
PROPERTY TAXES
