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$7,850,000
Est. payment /mo
19,358 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 19,358 sqft
Price per Sqft $405
MLS Listing ID CL26865431
HOA Y/N No
Year Built 1986
Lot Size 0.374 Acres
Acres 0.3737
Property Sub-Type Other
Property Description
1819 W. Alameda Ave is offered at a 6.20% cap rate and comprises 20 units in Burbank's Rancho Adjacent neighborhood, near the center of the city between Verdugo and Alameda Avenues. The unit mix includes 16 two-bedroom/two-bathroom units and 4 two-bedroom/one-bathroom units, 11 of which have already been remodeled giving new ownership a clear value-add roadmap: renovate the remaining nine units to bring them to market rent and capture the property's approximately 15% loss to lease by filling existing vacancies. Additional upside exists in monetizing the property's 40 parking spaces, which currently sit unrented.
Location
State CA
County Los Angeles
Zoning BUR4*
Interior
Heating Other
Fireplace No
Appliance Dryer
Laundry Dryer, Other, Washer
Building
New Construction No
Others
Tax ID 2444033024
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Listed by Douglas Steinriede • Dover Management Corp.
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