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240 E Providencia Ave
For Sale $5,600,000 ($569.05 per Sq Ft)
$5,600,000 ($569.05 per Sq Ft)
- 15 Units
- 9,841 Sq Ft
- 17,821 Sq Ft
- Unknown Cap Rate
Description
We are pleased to present a 15-unit apartment property in the highly desirable city of Burbank, California. Built in 1951 and fully renovated in 2023, the property features twelve (12) one-bedroom/one-bath units, two (2) two-bedroom/one-bath units, and one (1) two-bedroom/two-bath unit, totaling approximately 9,841 square feet on a 17,821 square foot lot. This turnkey property offers all major systems brand new, including electrical, plumbing, and roof, along with modern interiors featuring new countertops, cabinets, flooring, recessed lighting, washer/dryer, and central A/C and heat. The property delivers a 5.64% Day 1 cap rate, providing immediate income for investors. Located just south of Glenoaks Blvd and near Downtown Burbank, residents enjoy convenient access to shopping, dining, and entertainment at Burbank Town Center, AMC Theatres, and San Fernando Boulevard, as well as proximity to major employers such as Disney, Warner Bros., and Nickelodeon Animation. With excellent connectivity to the I-5 Freeway, Magnolia Blvd, and Metrolink stations, this property is a rare opportunity to acquire a well-located, turnkey multifamily asset in one of Los Angeles County's most stable rental markets. Strong fundamentals, a desirable unit mix, and consistent tenant demand make it an attractive investment with upside through rent optimization.
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 | $5,600,000 |
| Property Type | Multi-Family |
| Usable Sqft | 9,841 |
| Number of Stories | 2 stories |
| Parking Spots | 0 spots |
| Year Built | 1951 |
| Last Sold | Unknown |
| Sold Price | Unknown |
| APN # | 2453031008 |
| MLS # | 25619085 |
| Property ID | 292443551 |
| Lot Sqft | 17,821 |
| Zoning | BUR4* |
| Total Units | 15 |
| Days on Market | 43 |
| Original List Price | $5,600,000 |
| Date Updated | November 19, 2025 |
| Date Created | November 11, 2025 |
| Unit # | Beds | Baths | Current Rent | Proforma Rent |
| Unit #1 | 2 | 2.00 | $3,250 | $3,350 |
| Unit #2 | 1 | 1.00 | $2,463 | $30,000 |
| Unit #3 | 2 | 1.00 | $3,125 | $6,500 |
| Gross Income (Yr) | $ 468,600 |
| Operating Expenses | $ 129,457 |
| Net Income (Yr) | $ 315,713 |
| Cap Rate | 5.64% |
Listing Provided By
Michael Sterman an agent of . Lic #01911703
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Robert Crawford
REAL ESTATE AGENT