Back to Search
515 E Elmwood Ave
For Sale $9,100,000 ($388.23 per Sq Ft)
$9,100,000 ($388.23 per Sq Ft)
- 24 Units
- 23,440 Sq Ft
- 18,295 Sq Ft
- Unknown Cap Rate
Description
Constructed in 1987, the property consists entirely of two bedroom/two bathroom units. Situated north of Glenoaks Boulevard in the foothills of the Verdugo Mountains, the property allows tenants convenient access to Downtown Burbank and the Burbank Town Center shopping mall. Due to the fact that the property is subject only to Burbank's local rent ordinance, a new owner may be able to recapture the rent upside and keep pace with improving rent growth via higher allowable rent increases, when compared with other assets subject to Los Angeles rent control. An investor can enjoy additional income via the landlord-owned laundry facilities as well as pet rent collected from tenants. 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.
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 | $9,100,000 |
| Property Type | Multi-Family |
| Usable Sqft | 23,440 |
| Number of Stories | 3 stories |
| Parking Spots | 0 spots |
| Year Built | 1987 |
| Last Sold | Unknown |
| Sold Price | Unknown |
| APN # | 5621025049 |
| MLS # | 25618945 |
| Property ID | 322353461 |
| Lot Sqft | 18,295 |
| Zoning | BUR4* |
| Total Units | 24 |
| Days on Market | 38 |
| Original List Price | $9,100,000 |
| Date Updated | November 21, 2025 |
| Date Created | November 13, 2025 |
| Unit # | Beds | Baths | Current Rent | Proforma Rent |
| Unit #1 | 2 | 2.00 | $2,637 | $69,480 |
| Gross Income (Yr) | $ 740,798 |
| Operating Expenses | $ 220,131 |
| Net Income (Yr) | $ 520,667 |
| Cap Rate | 5.72% |
Listing Provided By
Roderick 'Rick' Raymundo an agent of . Lic #01357019
© 2025 CARETS and TheMLS. All rights reserved. Based on information from CARETS as of November 21, 2025 The information being provided by CARETS is for the visitor's personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CARETS, CLAW, CRISNet MLS, i-Tech MLS, PSRMLS and/or VCRDS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Any property information referenced on this website comes from the Internet Data Exchange (IDX) program of CRISNet MLS and/or CARETS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
Contact Agent
Schedule Appointment
Showing Agent
Loading agent...
- 30 mins
- America/Phoenix
Sun
Mon
Tue
Wed
Thu
Fri
Sat
Robert Crawford
REAL ESTATE AGENT