324 E Santa Anita Ave Active Save Request In-Person Tour Request Virtual Tour
Burbank,CA 91502
Key Details
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 6,001 sqft
Price per Sqft $549
MLS Listing ID 25548145
Bedrooms 10
Year Built 1957
Lot Size 8,978 Sqft
Acres 0.2062
Property Sub-Type Multi-Family
Property Description
The E Santa Anita Ave Residences are an 8-unit apartment building located in a prime Burbank location just south of Glenoaks Blvd. The property has a highly desirable unit mix of two 2 BR + 1 Bath and six 1 BR + 1 Bath units. This two-story building is approximately 6,001 SF and sits on a large 8,978 SF lot. Seven of the eight units have received tasteful renovations with new stainless steel appliances, wood floors, and new vanities in the bathrooms. Current ownership has also completed several other capital improvements, including updating the electrical system. The Santa Anita Ave Residences were constructed in 1957 and are subject to AB 1482 rent control measures, allowing new ownership to raise rents approximately 8% each year. There is also a significant amount of upside in the rents, creating a quintessential value-add opportunity for new ownership. There are 8 onsite parking spots, with one of those spots being tandem. There is a garage at the rear of the property that can potentially be converted into an ADU unit. This is a wonderful opportunity to purchase a trophy multi-family asset in a prime Burbank location.
Location
State CA
County Los Angeles
Area Burbank
Zoning BUR4*
Rooms
Other Rooms None
Interior
Heating Central
Cooling Central
Equipment Microwave, Range/Oven
Exterior
Parking Features Garage - 2 Car
Garage Spaces 8.0
Building
Story 2
Level or Stories Two
Others
Special Listing Condition Standard