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.

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