2005 Peyton Ave, Burbank, CA 91504
5 Unit Apartment Building | $1,900,000 ($380,000/Unit) | 3.78% Cap Rate | Burbank, CA 91504
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $1,900,000
- Property Type
-
Multifamily
- Square Feet
- 3,193 SF
Listing Contacts
Vahik Beglarian
Verified Profile
Shahen Gazarian
Verified Profile
- Property Info
Property Overview
INCREDIBLE NORTH BURBANK LOCATION, THIS COULD BE AN INVESTMENT OF LIFETIME!
An Exceptional Investment Opportunity to own 5 bungalow style units3`, 3,193 SQFT of existing living space which consist of a two-bedroom house, two single units, and two one-bedroom units, fully occupied property with month-to-month tenancy, The expansive 14,342 SQFT lot provides ample space for multiple vehicle parking and a tranquil oasis with lots of fruit trees in the heart of Burbank, Zoned BUR4 which offers a huge upside potential for development of a new multi-family apartment building or a condominium project. Burbank is and will most likely always be one of the highest demands, small self-incorporated cities in L.A. EZ freeway access to everywhere, multiple studios within miles, it attracts great demand and dictates high rents. Good quiet, yet EZ to access location. Property offers a huge upside potential of adding ADU units, Garage conversion to an ADU unit and rental rate increase with moderate upgrading of the units, this property is truly an investor's dream.
An Exceptional Investment Opportunity to own 5 bungalow style units3`, 3,193 SQFT of existing living space which consist of a two-bedroom house, two single units, and two one-bedroom units, fully occupied property with month-to-month tenancy, The expansive 14,342 SQFT lot provides ample space for multiple vehicle parking and a tranquil oasis with lots of fruit trees in the heart of Burbank, Zoned BUR4 which offers a huge upside potential for development of a new multi-family apartment building or a condominium project. Burbank is and will most likely always be one of the highest demands, small self-incorporated cities in L.A. EZ freeway access to everywhere, multiple studios within miles, it attracts great demand and dictates high rents. Good quiet, yet EZ to access location. Property offers a huge upside potential of adding ADU units, Garage conversion to an ADU unit and rental rate increase with moderate upgrading of the units, this property is truly an investor's dream.
Property Details
- Class
- C
- Year Built
- 1935
- Stories
- 1
- Property Subtype
- Storefront Retail/Residential
- Lot Size (sq. ft)
- 14,375 SF
- Units
- 5
Highlights
- Flat 14352 SQFT lot, Zoned BUR4, Opportunities for development of a multi family/Condominium development project.
- High possibility of addition of ADU'S, Prospects to check with City of Burbank for requirem.
- Great Area of Burbank, Opportunity of collection of Hight rental rates with minimal modification to existing units.
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