2001 Peyton Avenue 2001 Peyton Avenue Burbank, California 91504 United States
2001 Peyton Avenue Burbank, California 91504 United States
$5,475,000
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Huge 500k Price Reduction! This is an excellent opportunity to invest in a rare non-rent controlled 20-unit building (85% occupied) in the prime Burbank area, priced at only $273k per door for renovated units. The property boasts an incredible...
- 9,232 Sq Ft.
- Interior
- .44 Acres
- Exterior
- Residential Income
- Property type
- 1960
- Year Built
- 24365833
- Web Id
- 24365833
- MLS ID
- 54
- days ago
About 2001 Peyton Avenue
Huge 500k Price Reduction! This is an excellent opportunity to invest in a rare non-rent controlled 20-unit building (85% occupied) in the prime Burbank area, priced at only $273k per door for renovated units. The property boasts an incredible current 6% Cap Rate and 12.1 GRM with upside potential to reach a 6.5% cap rate and 11.3 GRM on proforma. 16 fully renovated units with permits and 2 partially remodeled units offer promising long-term value for any forward-thinking investor. Additionally, the large lot size of approximately 19,166 SF provides ample parking spaces as well as potential for future upside by adding multiple ADUs (Accessory Dwelling Units). Non-LA-City rent-controlled asset allowing significant 8.8% annual rent increases (5%+CPI) for future upside. 16 units have been completely renovated with permits (3 vacant) and boast a high-end aesthetic with new cabinets, flooring, modern lighting, new bathrooms, stainless steel appliances, as well as major exterior capital improvements. Amenities include a renovated courtyard with seating areas and a fire pit, on-site laundry facilities, and parking for convenience. Prime Burbank location just minutes away from media giants such as Warner Bros Studios, Walt Disney Studios, and Burbank Town Center Shopping Mall.
Listing Courtesy of Armin Soleimani, Global Platinum Properties, Inc., 01846872, Julio Ruiz, Global Platinum Properties, Inc., 01911261, Active
The listing brokers offer of compensation is made only to participants of the MLS where the listing is filed.
Listing Courtesy of Armin Soleimani, Global Platinum Properties, Inc., 01846872, Julio Ruiz, Global Platinum Properties, Inc., 01911261, Active
The listing brokers offer of compensation is made only to participants of the MLS where the listing is filed.
Amenities
- Refrigerator
features
- cooling
- Propane Heating
- Parking
- Assigned Parking
PROPERTY INFORMATION
- Appliances
- Refrigerator
- Heating
- WallFurnace
- Parking Description
- Assigned, Uncovered
INTERIOR
- Flooring
- Laminate
ADDITIONAL INFORMATION
- Number of Units
- 20
Listing Courtesy of Global Platinum Properties, Inc.