We are proud to represent this 4­unit apartment building in an excellent rental pocket in the heart of Burbank's Magnolia Park district. The location is a real draw for renters, as the property is situated on a quiet, tree­lined street in a neighborhood of $1mil+ homes.
The building was constructed in 1947. Its unit mix consists of (4) one­bedroom, one­bathroom units. With a lot size of 6,249 square feet, the property has a total of 2,270 rentable square feet. Some of the highlights include hardwood floors, ceiling fans, and private garages. Tenants enjoy a garden style setting.
All renters have paid through COVID and none of the renters currently have leases.
The property is located in Burbank, which is a highly desirable rental market and is known as the media capital of the world. It is home to Disney Studios, Warner Brothers, and NBC. The city has over 80 restaurants, 30 movie screens, and 200 stores; its residents enjoy top ranked schools, easy access to the 5 and 134 freeways, and close proximity to the Burbank Metro Link.
The property is separately metered for gas and electricity.
An astute investor will take advantage of historic low interest rates and the increasing rental market.