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711 N Hollywood Way
For Sale $10,800,000
$10,800,000
- Unknown Bedrooms
- Unknown Bathrooms
- Unknown Sq Ft
- 18,352 Sq Ft
Description
We are pleased to offer for sale the Media Crest @701, a turn-key 24 units multifamily offering in the city of Burbank Ca.
Comprised of fully upgraded and remodeled units and grounds, the offering requires virtually no capital upgrade requirements and is being delivered at 12.9 grm and 5.62% cap.
Unit mix of (16) 2+2, (8) 1+1 are supplied with balconies/patios, fireplaces, dishwashers, central AC & heat, and are secured by gated parking and controlled access.
Situated in the heart of Burbank, a thriving media and entertainment hub, this property offers proximity to major studios like Warner Bros., Disney, and NBC. Burbank is known for its strong rental demand and stable real estate market, making it an excellent location for apartment investment. Directly across the street is the "Ranch Lot Development" a $500,000,000 project being completed in 2025 is comprised of 926,000 sq ft media & office space.
Burbank has a strong local economy driven by entertainment, tech, and media industries, making it a resilient market for residential real estate. The city’s ongoing development and economic growth provide a stable investment environment.
With its central location and solid demand for rentals, Media Crest @701 is poised to continue to generate consistent cash flow. It represents a safe and reliable long-term investment in a high-demand area.
Also available with sister property 520 N Hollywood Way, 20 units, if desired.
* Contact Greg Alexanian for further details, tour dates and offering memorandum *
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Amenities
Garage
Pool
Garden
Security System
Internet
Telephone
Heating
Fireplace
Balcony & Patio
TV / Cable
Laundry
Hardwood Floors
Spa
Air Conditioning
Solar Power
Floor Plan
Great Views
Natural Light
Quiet
Water View
Elevator
Guest Unit(s)
Furnished
220 Volt
Property Details
| List Price | $10,800,000 |
| Property Type | Condo/Co-Op |
| Usable Sqft | Unknown |
| Number of Stories | 3 stories |
| Parking Spots | 0 spots |
| Year Built | 1989 |
| Last Sold | Unknown |
| Sold Price | Unknown |
| APN # | 2480014021 |
| MLS # | SR24231974 |
| Property ID | 292431006 |
| Lot Sqft | 18,352 |
| Zoning | BUR4* |
| Total Units | 24 |
| Days on Market | 16 |
| Original List Price | $10,800,000 |
| Date Updated | November 11, 2024 |
| Date Created | November 11, 2024 |
Listing Provided By
Levon Alexanian an agent of . Lic #00911091
© 2024 CRMLS. All rights reserved. Some listings on this website are from CRMLS as of November 11, 2024 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.
Robert Crawford
REAL ESTATE AGENT