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638 E Tujunga Ave 8 Unit Apartment Building $4,695,000 ($586,875/Unit) 5.12% Cap Rate Burbank, CA 91501
INVESTMENT HIGHLIGHTS
- Location, Location, Location. Pride of ownership 8 unit apartment building located above Glenoaks Blvd
- Exceptional unit mix consisting of all two bedroom two bath townhouse units with 1/2 of the units with lofts
- Secured subterranean parking
- Tenants enjoy mountain views, open floor plans, separate entrances, and storage rooms
- Units have fireplaces, washer and dryer hookups, central air and heat, dishwashers and outdoor patios or balconies
- Building has a new roof
EXECUTIVE SUMMARY
Equity Union Commercial is proud to represent this 8 unit apartment building in an excellent Burbank rental pocket.
The building was constructed in 1989. Its unit mix consists of (8) 2-bedroom, 2.5-bathroom units, (4) of which are loft units. With a lot size of 7,064 square feet, the property has a total of 10,020 rentable square feet.
The property is located in Burbank, which is a highly desirable rental market and is known as the media capital of the world. It is home to Disney Studios, Warner Brothers, and NBC. The city has over 80 restaurants, 30 movie screens, and 200 stores; its residents enjoy top ranked schools, easy access to the 5 and 134 freeways, and close proximity to the Burbank Metro Link.
The building is a Burbank trophy property. Tenants enjoy mountain views, open floor plans, separate entrances, and storage rooms; units also feature fireplaces, washer and dryer hook ups, central air and heating, and outdoor patios and balconies. The building has a new roof.
An astute investor will enjoy the turnkey asset, excellent unit mix, award winning schools, and improving area as rents
increase over time.
The building was constructed in 1989. Its unit mix consists of (8) 2-bedroom, 2.5-bathroom units, (4) of which are loft units. With a lot size of 7,064 square feet, the property has a total of 10,020 rentable square feet.
The property is located in Burbank, which is a highly desirable rental market and is known as the media capital of the world. It is home to Disney Studios, Warner Brothers, and NBC. The city has over 80 restaurants, 30 movie screens, and 200 stores; its residents enjoy top ranked schools, easy access to the 5 and 134 freeways, and close proximity to the Burbank Metro Link.
The building is a Burbank trophy property. Tenants enjoy mountain views, open floor plans, separate entrances, and storage rooms; units also feature fireplaces, washer and dryer hook ups, central air and heating, and outdoor patios and balconies. The building has a new roof.
An astute investor will enjoy the turnkey asset, excellent unit mix, award winning schools, and improving area as rents
increase over time.
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 |
-
|
-
|
| Operating Expenses |
-
|
-
|
| 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 | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
| Price | $4,695,000 | Apartment Style | Low-Rise |
| Price Per Unit | $586,875 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.16 AC |
| Cap Rate | 5.12% | Building Size | 10,020 SF |
| Gross Rent Multiplier | 14.24 | No. Stories | 2 |
| No. Units | 8 | Year Built | 1989 |
| Property Type | Multifamily | Parking Ratio | 1.08/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | BUR4* | ||
| Price | $4,695,000 |
| Price Per Unit | $586,875 |
| Sale Type | Investment |
| Cap Rate | 5.12% |
| Gross Rent Multiplier | 14.24 |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.16 AC |
| Building Size | 10,020 SF |
| No. Stories | 2 |
| Year Built | 1989 |
| Parking Ratio | 1.08/1,000 SF |
| Zoning | BUR4* |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+2.5 | 8 | - | - |
1 1
Walk Score®
Very Walkable (80)
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638 E Tujunga Ave
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