915 W Olive Ave 5,767 SF Office Building Burbank, CA 91506 $1,499,000 ($259.93/SF)

RARE VACANT MIXED-USE OWNER/USER OPPORTUNITY
Offered for the first time in 37 years, this mixed-use property presents a unique owner-user or investment opportunity in Burbank. The approximately 3,700 SF building sits on a 5,094 SF lot and offers a versatile combination of commercial and residential space.
The property consists of approximately 1,500 square feet of ground-floor commercial/office space and an approximately 1,150+-square-foot two-bedroom residential unit on the second floor.
The ground-floor commercial component provides a flexible layout consisting of multiple office/work areas, 3 restrooms, workshop and storage space. Previously used as a successful printing business, the configuration may accommodate a wide variety of professional, creative, production, design or service-oriented businesses, or even multi-tenants as it appears that the building may be converted to 2-3 commercial spaces, subject to applicable zoning and City approvals. The lot runs from street to alley for easy access both from Olive and the rear alley. A roll-up loading door enhances the attraction of this very flexible building.
The second floor provides a spacious two-bedroom residential apartment, including a living room, dining area, kitchen and full bath. This creates an increasingly difficult-to-find opportunity for a buyer to operate a business from the commercial portion while living in or leasing the residential portion for additional income.
Five on-site striped parking spaces with possible additional tandem parking which further enhances the ownership of the owner-user, an important amenity for employees, clients and residents.
Both portions of the property are currently vacant and ready for renovation. The improvements need cosmetic and general updating, providing a buyer with the opportunity to modernize the property and create a space tailored to their own business or investment objectives.
The location benefits from excellent exposure along W. Olive Avenue and convenient access to Burbank's major employment and entertainment centers. The mixed-use character of the Olive Avenue corridor continues to evolve; for example, the City is currently reviewing a mixed-use project at 1130 W. Olive Avenue consisting of 30 apartments, approximately 6,620 SF of medical office space and 879 SF of retail.
This is a Trust/inheritance sale being sold in its as-is condition. Offers with loan and/or appraisal contingencies may not be considered. Seller knows very little about the property and will not be making any repairs or updates.