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140 N Pass Ave
For Sale $2,200,000 ($539.61 per Sq Ft)
$2,200,000 ($539.61 per Sq Ft)
- 5 Units
- 4,077 Sq Ft
- 5,691 Sq Ft
- Unknown Cap Rate
Description
Sellers will carry the 1st loan with an acceptable down payment, and offer the interest lower than the current market rate and potential to have a positive cash flow with a lower down payment. This will be a great Investment Opportunity in the Heart of Burbank. This well-maintained 5-unit property features a desirable front owner's unit and a two-story rear building with four additional rental units. Amenities include five garage parking spaces, one uncovered parking spot, and an on-site laundry room, ideal for both tenant convenience and additional income potential. Perfectly located near Warner Bros. and NBC Studios, and just 15 minutes from Universal Studios. The front unit is owner-occupied; it will be vacant at closing. The property underwent extensive renovations in 2022 and 2023, including a new roof on units and garages and new dual-pane windows in most units (except one). The current leases remain in place through August 31, 2025. The owner unit's rent can be set at the market rent, subject to California's rent control guidelines. The new owner can increase revenue through separate charges for garage parking and storage. Potential Value Add by building a new ADU above the current garage or converting it to an ADU. With rent increases taking effect, coupled with low building expenses and minimal maintenance, this property has the potential to achieve a cap rate exceeding 5.0%.
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 | $2,200,000 |
| Property Type | Multi-Family |
| Usable Sqft | 4,077 |
| Number of Stories | 2 stories |
| Parking Spots | 5 spots |
| Year Built | 1941 |
| Last Sold | Unknown |
| Sold Price | Unknown |
| APN # | 2485007012 |
| MLS # | 25555629 |
| Property ID | 321912244 |
| Lot Sqft | 5,691 |
| Zoning | BUR4* |
| Total Units | 5 |
| Days on Market | 212 |
| Original List Price | $2,399,900 |
| Date Updated | January 12, 2026 |
| Date Created | June 20, 2025 |
| Unit # | Beds | Baths | Current Rent | Proforma Rent |
| Unit #1 | 2 | 1.00 | $2,600 | $3,080 |
| Unit #2 | 1 | 1.00 | $2,194 | $9,157 |
| Gross Income (Yr) | $ 147,331 |
| Operating Expenses | $ 47,480 |
| Net Income (Yr) | $ 95,431 |
| Cap Rate | 4.34% |
Listing Provided By
Somboon Nakorn an agent of . Lic #00987926
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Robert Crawford
REAL ESTATE AGENT