Active
240 -260 E Providencia Avenue
Burbank CA, 91502
$5,975,000
$607.15 per sqft
Active
9,841 sqft
Condos
Built in 1951
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*
Listed by Steve Hovakimyan, City Center Realty Group, CA DRE 01363908
Listing Contact: 818-845-5551
Based on information from the CRISNet MLS as of 12/14/2024, 11:41 PM UTC. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. The information being provided is for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
©2024 CRISNet MLS. All rights reserved.