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1201 W Verdugo Avenue

Burbank, CA 91506
  • $1,950,000
  • STATUS: Active
  • ON SITE: 272 Days
  • ID#: SR24052054
UPDATED: 72 min ago
$1,950,000
  • 0
    BEDS
  • 0.19
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1953
County:

School Ratings & Info

Listing Agent(s): Richard Valdez of Valdez Realty (818-522-2863)


Description

5-unit Apartment building on an 8,304 sq/ft corner lot, located in a desirable area of Burbank. New Kitchen counters and New windows installed. Each of the 5 units has 2 bedrooms and 1 bath. Surrounded by a significant number of residential homes. Rents are significantly below market value, which create a opportunity to have significant improvement of rental income over the years. Some kitchen flooring has ceramic tile or Vinyl tile flooring. The living rooms and bedrooms have original hardwood floorings, with the exception of one unit having carpet on top of its hardwood flooring. The kitchen counters are made of ceramic tile. There are 3 garages, a 1-car garage, and two 2-car garages. ABS sewer line and copper main water line. The composition shingle roof is about 12 years old. The building is located just 1 block away from George Izay Park, which has kid's playgrounds, courts for basketball, baseball, and tennis courts. About 1 mile for access to the 5 fwy and the 101 fwy.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2024-12-13T13:27:24.497. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or CFC Realty, Inc. Licensed in the State of California, USA.
www.cfc-realty.com/homes/148600789
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1201 W Verdugo Avenue Burbank, CA 91506

  • Price: $1,950,000
  • Status: Active
  • On Site: 272 Days
  • Updated: 72 min ago
  • ID#: SR24052054
0
Beds
0
Baths
0
½ Baths
0.19
Acres
1953
Built
Neighborhood:
610 - Burbank
County:
Los Angeles
Area:
610 - Burbank
Property Description
5-unit Apartment building on an 8,304 sq/ft corner lot, located in a desirable area of Burbank. New Kitchen counters and New windows installed. Each of the 5 units has 2 bedrooms and 1 bath. Surrounded by a significant number of residential homes. Rents are significantly below market value, which create a opportunity to have significant improvement of rental income over the years. Some kitchen flooring has ceramic tile or Vinyl tile flooring. The living rooms and bedrooms have original hardwood floorings, with the exception of one unit having carpet on top of its hardwood flooring. The kitchen counters are made of ceramic tile. There are 3 garages, a 1-car garage, and two 2-car garages. ABS sewer line and copper main water line. The composition shingle roof is about 12 years old. The building is located just 1 block away from George Izay Park, which has kid's playgrounds, courts for basketball, baseball, and tennis courts. About 1 mile for access to the 5 fwy and the 101 fwy.
Exterior Features

Construction Materials Stucco Entry Level 2 Entry Location 1st & 2nd Floor Foundation Details Slab Lot Features 0-1 Unit/Acre Number Of Separate Electric Meters 6 Open Parking Spaces 2 Parking Features Assigned Parking Total 7 Pool Features None Pool Private YN No Property Attached YN Yes Road Surface Type Paved Roof Composition Spa Features None Spa YN No View None View YN No

Interior Features

Appliances Disposal Common Walls 1 Common Wall Cooling Wall/Window Unit(s) Cooling YN Yes Fireplace Features None Fireplace YN No Flooring VinylWood Heating Wall Furnace Heating YN Yes

Property Features

Additional Parcels YN No Cap Rate 3.92 Common Interest Community Apartment Community Features Sidewalks Contingency Buyer to cooperate with seller's 1031 exchange at no cost to buyer. Electric Standard Electric Expense 420 Fuel Expense 244 Garage YN Yes Gross Income 0 Gross Scheduled Income 104856 Insurance Expense 1923 Land Lease YN No Laundry Features Common Area Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms 1031 Exchange Net Operating Income 97739 New Construction YN No New Taxes Expense 22420 Number Of Separate Gas Meters 6 Number Of Separate Water Meters 0 Number Of Units Leased 5 Operating Expense 7117 Other Expense 3150 Property Sub Type Apartment Rent Control YN No Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Tenant Pays Cable TVElectricityGas Trash Expense 0 Utilities Electricity ConnectedNatural Gas ConnectedSewer ConnectedWater Connected Water Sewer Expense 1380 Water Source Public Zoning BUR3*



Based on information from California Regional Multiple Listing Service, Inc. as of 2024-12-13T13:27:24.497. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or CFC Realty, Inc. Licensed in the State of California, USA.
 
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CFC Realty, Inc
931 Pueblo Drive
Lake Havasu City AZ, 86406
Listing Agent(s): Richard Valdez of Valdez Realty (818-522-2863)