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2001 Peyton Ave
For Sale $5,995,000 ($649.37 per Sq Ft)
$5,995,000 ($649.37 per Sq Ft)
- 20 Units
- 9,232 Sq Ft
- 19,166 Sq Ft
- Unknown Cap Rate
Description
This is an excellent opportunity to invest in a rare non-rent-controlled 20-unit building (95% occupied) in the prime Burbank area, priced at only $299k per door for renovated units. The property boasts an incredible current 5.25% Cap Rate and 13.2 GRM with upside potential to reach a 5.7% cap rate and 12.4 GRM on proforma. Notably, there are Preliminary Plans for 8 Detached ADUs over the open parking lot in the back that offers exceptional future upside potential. 16 fully renovated units and 1 partially remodeled unit offer promising long-term value for any forward-thinking investor. Additionally, the large lot size of approximately 19,166 SF provides ample parking spaces, and there is potential for future upside by adding multiple ADUs (Accessory Dwelling Units). Non-LA-City rent-controlled asset allowing significant 8.9% annual rent increases (5%+CPI) for future upside. 16 units have been completely renovated with permits (1 vacant) and boast a high-end aesthetic with new cabinets, flooring, modern lighting, new bathrooms, stainless steel appliances, as well as major exterior capital improvements. Amenities include a renovated courtyard with seating areas and a fire pit, on-site laundry facilities, and parking for convenience. Prime Burbank location is just minutes away from media giants such as Warner Bros Studios, Walt Disney studios, and Burbank Town Center Shopping Mall.
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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 | $5,995,000 |
| Property Type | Multi-Family |
| Usable Sqft | 9,232 |
| Number of Stories | 2 stories |
| Parking Spots | 0 spots |
| Year Built | 1960 |
| Last Sold | Unknown |
| Sold Price | Unknown |
| APN # | 2468016004 |
| MLS # | 25479303 |
| Property ID | 320829211 |
| Lot Sqft | 19,166 |
| Zoning | BUR4* |
| Total Units | 20 |
| Days on Market | 40 |
| Original List Price | $5,995,000 |
| Date Updated | January 17, 2025 |
| Date Created | January 09, 2025 |
| Unit # | Beds | Baths | Current Rent | Proforma Rent |
| Unit #1 | 0 | 1.00 | $1,995 | $1,995 |
| Unit #2 | 0 | 1.00 | $1,995 | $1,995 |
| Unit #3 | 0 | 1.00 | $1,995 | $1,995 |
| Unit #4 | 0 | 1.00 | $1,995 | $1,995 |
| Unit #5 | 0 | 1.00 | $1,995 | $1,995 |
| Gross Income (Yr) | $ 451,656 |
| Operating Expenses | $ 123,061 |
| Net Income (Yr) | $ 315,046 |
| Cap Rate | 5.25% |
Listing Provided By
Julio Ruiz an agent of . Lic #01911261
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