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About the Listing G8174 - G82555
Prime Burbank 6-Unit Multifamily | Strong Rental Upside | 5.7% Pro Forma Cap Located in the highly desirable City of Burbank — subject to AB 1482 with higher allowable annual rental increases than the City of Los Angeles — this pride-of-ownership six-unit multifamily property presents an exceptional value-add investment opportunity with approximately 18%+ rental upside. The property consists of six spacious 2-bedroom, 1-bath units, each featuring bright living rooms, well-sized kitchens with dining areas, generous bedrooms, and ample closet space. The building has been well maintained and includes a newer roof, partial copper plumbing, six covered parking spaces, and an on-site laundry room with owned machines. The property is separately metered for gas and electricity. Ideally situated less than one mile from Downtown Burbank, tenants enjoy convenient access to shopping, dining, cafés, entertainment, and the Burbank Town Center. The property is also in close proximity to major employment hubs including Walt Disney Studios, Warner Bros., and the city’s thriving media and technology sector, as well as award-winning Burbank schools. Commuters benefit from excellent freeway access to the 5, 134, and 2, providing direct connectivity to Glendale, Pasadena, Eagle Rock, Downtown Los Angeles, and the San Fernando Valley. This offering represents a rare opportunity to acquire a stable, well-located multifamily asset in one of Los Angeles County’s most resilient and supply-constrained rental markets. Financial Highlights (Based on New Tax Basis): • 4.9% Cap Rate | 14.79 GRM at Current Rents • 5.7% Pro Forma Cap Rate | 13.0 Pro Forma GRM
Listing Highlights
Status
Active
Days on Site
76
Property Type
Multi-Family
MLS ®
GD26010495
Year Built
1953
Total Square Footage
4,804
Lot/Acreage
0.17
County
Los Angeles
Area
610 - Burbank
Interior Details
- Bedrooms: 2
- Bathrooms: 1 Full
- Appliances: Dishwasher, Free-Standing Range, Gas Range, Gas Water Heater, Refrigerator, Range Hood
- Air Cond: Wall/Window Unit(s)
- Heating: Wall Furnace
- Fireplaces:
- Floor: Laminate,Tile,Wood
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other: Ceiling Fan(s),Walk-In Closet(s)
- Water: Public
Exterior Details
- Lot Description: Front Yard,Sprinkler System,No Land Lease
- Garage Capacity: 6 car
- Parking Spaces: 6
- Roof: Composition
- Others: Unknown,2+ Total Units
- Sewer: Public Sewer
- Parking Features: Carport
Financial Details
- Tax Amount: N/A
- Taxes w/Assessments: N/A
- Tax/Property ID: 2451001035
- Tax Year: N/A
Payment Calculator
Monthly Payment
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Questions About..
198 W Elmwood Burbank, CA 91502
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