240 -260 E Providencia Avenue

Burbank, CA 91502

$5,975,000

List Price

N/A

bed Beds

N/A

shower Baths

N/A sqft

straighten / sqft

1951

calendar_month Built

Property Description

Stunning Multifamily Investment Opportunity in Burbank : 240-260 E. Providencia We are excited to present this meticulously renovated 15-unit multifamily property located in the heart of Burbank, renowned as the Media Capital of the World. This exceptional investment opportunity is situated in one of the region’s most sought-after rental markets, offering strong returns and long-term growth potential. Property Highlights: Prime Location: Nestled on a 17,821-square-foot lot with 100 feet of street frontage across two parcels. Diverse Unit Mix: (12) One-bedroom, one-bathroom units (2) Two-bedroom, one-bathroom units (1) Two-bedroom, two-bathroom unit Bonus: A 153-square-foot storage room that can be converted into an office. Rentable Space: 8,202 square feet of updated, income-generating units. Attractive Financials: Enjoy an in-place 6.19% CAP rate, making this an outstanding investment for cash flow and value appreciation. This property represents the ideal combination of a renovated asset, diverse floor plans, and an exceptional location, making it a premier choice for savvy investors looking to capitalize on Burbank’s ever-growing rental demand. Don’t miss the chance to add this jewel to your portfolio!

Listing Information

List Price $5,975,000
Status Active
MLS BB24247060
Type Residential Income
Subtype Apartment
Year Built 1951
Lot Size 17,821
Structure Size N/A
DOM 5
Courtesy Of City Center Realty Group
Listing Agent Steve Hovakimyan DRE#01363908

Interior Features

Laundry Information
Location(s) Inside
Total Bedroom
Bedrooms N/A
Total Bathroom
Bathrooms N/A
Fireplace Information
Features None
Cooling Type
Cooling Type Central Air

Exterior Information

Maps

Listing information courtesy of: Steve Hovakimyan, City Center Realty Group 818-845-5551. *Based on information from the Association of REALTORS/Multiple Listing as of Dec 14th, 2024 at 11:06 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. 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.