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Listed by Roderick 'Rick' Raymundo - DRE #01357019 - Marcus & Millichap 818-212-2700

$5,500,000

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1814 Grismer Avenue Burbank, CA 91504

Cluster Residence

14 Beds

16 Baths

9,906 Sq. Ft.

0.23 Acre Lot

Property Activity

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Last updated on 11/15/2024 5:16 PM

Listing Details

The building is exempt from Los Angeles Rent Control and therefore an investor can benefit from higher allowable annual rent increases through AB 1482. Only two units have been given rent increases within the past year, potentially allowing a new owner to improve the property's cashflow almost immed...iately (Buyer to verify). Situated within a mile of both the Burbank Town Center and the Empire Center, this property grants tenants convenient access to numerous major national retailers and an extensive slate of entertainment and dining options. Stores such as Costco, Target, Walmart, Nordstrom Rack, Macy's, Cost Plus World Market, and Best Buy provide local residents a wide array of local shopping choices. Dubbed the "Media Capital of the World," the city of Burbank is home to a vast contingent of entertainment employers, which allows tenants convenient commutes to studios. Notable media production campuses in and around Burbank include Disney Studios, Walt Disney Imagineering, Warner Bros. Studios, Universal Studios, Nickelodeon Studios, Cartoon Network, and Dreamworks Animation. Continue reading

MLS#

24460053

Property Type

Cluster

Status

Bedrooms

Bathrooms

Year Built

1961

Square Feet

9,906 sq. ft

Lot Size