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1814 Grismer Ave
For Sale $5,300,000 ($535.03 per Sq Ft)
$5,300,000 ($535.03 per Sq Ft)
- 14 Units
- 9,906 Sq Ft
- 10,112 Sq Ft
- Unknown Cap Rate
Description
The building is exempt from Los Angeles Rent Control and therefore an investor can benefit from higher allowable annual rent increases through AB 1482. Only two units have been given rent increases within the past year, potentially allowing a new owner to improve the property's cashflow almost immediately (Buyer to verify). Situated within a mile of both the Burbank Town Center and the Empire Center, this property grants tenants convenient access to numerous major national retailers and an extensive slate of entertainment and dining options. Stores such as Costco, Target, Walmart, Nordstrom Rack, Macy's, Cost Plus World Market, and Best Buy provide local residents a wide array of local shopping choices. Dubbed the "Media Capital of the World," the city of Burbank is home to a vast contingent of entertainment employers, which allows tenants convenient commutes to studios. Notable media production campuses in and around Burbank include Disney Studios, Walt Disney Imagineering, Warner Bros. Studios, Universal Studios, Nickelodeon Studios, Cartoon Network, and Dreamworks Animation.
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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 | $5,300,000 |
| Property Type | Multi-Family |
| Usable Sqft | 9,906 |
| Number of Stories | 2 stories |
| Parking Spots | 0 spots |
| Year Built | 1961 |
| Last Sold | Unknown |
| Sold Price | Unknown |
| APN # | 2468005023 |
| MLS # | 24460053 |
| Property ID | 319690292 |
| Lot Sqft | 10,112 |
| Zoning | BUR4* |
| Total Units | 14 |
| Days on Market | 128 |
| Original List Price | $5,500,000 |
| Date Updated | January 28, 2025 |
| Date Created | November 04, 2024 |
| Unit # | Beds | Baths | Current Rent | Proforma Rent |
| Unit #1 | 1 | 1.00 | $2,180 | $25,950 |
| Unit #2 | 0 | 1.00 | $1,775 | $3,990 |
| Unit #3 | 2 | 2.00 | $2,710 | $5,790 |
| Gross Income (Yr) | $ 360,527 |
| Operating Expenses | $ 113,408 |
| Net Income (Yr) | $ 247,119 |
Listing Provided By
Roderick 'Rick' Raymundo an agent of . Lic #01357019
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