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198 W Elmwood
For Sale $2,395,000
$2,395,000
- 6 Units
- Unknown Sq Ft
- 7,513 Sq Ft
- Unknown Cap Rate
Description
Prime Burbank 6-Unit Multifamily | Strong Rental Upside | 5.7% Pro Forma Cap
Located in the highly desirable City of Burbank — subject to AB 1482 with higher allowable annual rental increases than the City of Los Angeles — this pride-of-ownership six-unit multifamily property presents an exceptional value-add investment opportunity with approximately 18%+ rental upside.
The property consists of six spacious 2-bedroom, 1-bath units, each featuring bright living rooms, well-sized kitchens with dining areas, generous bedrooms, and ample closet space. The building has been well maintained and includes a newer roof, partial copper plumbing, six covered parking spaces, and an on-site laundry room with owned machines. The property is separately metered for gas and electricity.
Ideally situated less than one mile from Downtown Burbank, tenants enjoy convenient access to shopping, dining, cafés, entertainment, and the Burbank Town Center. The property is also in close proximity to major employment hubs including Walt Disney Studios, Warner Bros., and the city’s thriving media and technology sector, as well as award-winning Burbank schools.
Commuters benefit from excellent freeway access to the 5, 134, and 2, providing direct connectivity to Glendale, Pasadena, Eagle Rock, Downtown Los Angeles, and the San Fernando Valley.
This offering represents a rare opportunity to acquire a stable, well-located multifamily asset in one of Los Angeles County’s most resilient and supply-constrained rental markets.
Financial Highlights (Based on New Tax Basis):
• 4.9% Cap Rate | 14.79 GRM at Current Rents
• 5.7% Pro Forma Cap Rate | 13.0 Pro Forma GRM
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 | $2,395,000 |
| Property Type | Flex Space |
| Usable Sqft | Unknown |
| Number of Stories | 2 stories |
| Parking Spots | 6 spots |
| Year Built | 1953 |
| Last Sold | Unknown |
| Sold Price | Unknown |
| HOA Fees: | $0 |
| Association Name: | Unknown |
| Association Amenities: | Unknown |
| APN # | 2451001035 |
| MLS # | GD26010495 |
| Property ID | 322517500 |
| Lot Sqft | 7,513 |
| Zoning | Unknown |
| Total Units | 6 |
| Days on Market | 48 |
| Original List Price | $2,485,000 |
| Applicances | Dishwasher,Free-Standing Range,Gas Range,Gas Water Heater,Refrigerator,Range Hood% |
| Date Updated | February 10, 2026 |
| Date Created | January 15, 2026 |
| Unit # | Beds | Baths | Current Rent | Proforma Rent |
| Unit #1 | $8,445 | $0 |
| Net Income (Yr) | $ 114,793 |
Listing Provided By
Silvia Ragheb an agent of . Lic #01319114
© 2026 CRMLS. All rights reserved. Some listings on this website are from CRMLS as of February 10, 2026 The information being provided is for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
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Robert Crawford
REAL ESTATE AGENT