Active
240 -260 E Providencia Avenue
Burbank CA, 91502
$5,975,000
$607.15 per sqft
Active
9,841 sqft
Condos
Built in 1951
Listed by Steve Hovakimyan with City Center Realty Group 818-845-5551
Stunning Multifamily Investment Opportunity in Burbank : 240-260 E. Providencia
We are excited to present this meticulously renovated 15-unit multifamily property located in the heart of Burbank, renowned as the Media Capital of the World. This exceptional investment opportunity is situated in one of the region's most sought-after rental markets, offering strong returns and long-term growth potential.
Property Highlights:
Prime Location: Nestled on a 17,821-square-foot lot with 100 feet of street frontage across two parcels.
Diverse Unit Mix:
(12) One-bedroom, one-bathroom units
(2) Two-bedroom, one-bathroom units
(1) Two-bedroom, two-bathroom unit
Bonus: A 153-square-foot storage room that can be converted into an office.
Rentable Space: 8,202 square feet of updated, income-generating units.
Attractive Financials: Enjoy an in-place 6.19% CAP rate, making this an outstanding investment for cash flow and value appreciation.
This property represents the ideal combination of a renovated asset, diverse floor plans, and an exceptional location, making it a premier choice for savvy investors looking to capitalize on Burbank's ever-growing rental demand. Don't miss the chance to add this jewel to your portfolio!
BB24247060
MLSⓇ ID
December 9, 2024
Listed
December 14, 2024
Updated
Map
240 -260 E Providencia Avenue
Burbank CA, 91502
Interior Features
Total Stories
2
Laundry Description
Inside
Fireplace
No
Fireplace Description
None
Cooling
Yes
Cooling Description
Central Air
Heating
Yes
Heating Description
Central
Exterior/Building Features
Lot Size
0.41 Acres
Sewer
Public Sewer
Other Property Details
Area Name
610 - Burbank
Days on Market
5
Garage
No
Parking Total
0
View
No
County
Los Angeles
Water Source
Public
Pool
No
Pool Features
None
Zoning
BUR4*
Listing Contact: 818-845-5551
Based on information from the California Regional Multiple Listing Service (CRMLS) as of 12/14/2024. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.
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Data last updated on 12/14/2024 at 11:42 PM UTC