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$1,650,000
Est. payment /mo
8 Beds
4 Baths
3,380 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 3,380 sqft
Price per Sqft $488
MLS Listing ID 26988875
Bedrooms 8
HOA Y/N No
Year Built 1947
Lot Size 6,882 Sqft
Property Description
Marcus & Millichap is pleased to announce the opportunity to purchase the 140 N Maple Street, a four-unit multifamily property located in Burbank, CA. Situated near the intersection of Olive Avenue and Pass Avenue, the building sits just one block from world-famous Warner Bros. Studios. Due to the fact that the property is subject only to Burbank's local rent ordinance, a new owner may be able to recapture the rent upside and keep pace with improving rent growth via higher allowable rent increases, when compared with other assets subject to Los Angeles rent control. Because there are no seismic retrofit repairs required (Buyer to verify), the property allows a new investor to save from an otherwise costly maintenance expense. The pitched roof and partial copper plumbing also help to reduce both utility and maintenance costs, allowing for more profitable property operations. Located just a half-mile from the Burbank-Toluca Lake border, the property grants residents convenient access to Studio City, the NoHo Arts District, Glendale, Griffith Park, and the Hollywood Hills. 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 Warner Bros. Studios, Disney Studios, Walt Disney Imagineering, Universal Studios, Nickelodeon Studios, Cartoon Network, and Dreamworks Animation. Several noteworthy restaurants and retail destinations are within the surrounding blocks, including Equinox Burbank, Smoke House Restaurant, Olive & Thyme, Don Cuco Mexican Restaurant, and the Disney XD office building.
Location
State CA
County Los Angeles
Area 610 - Burbank
Zoning BUR4*
Interior
Fireplace No
Exterior
Parking Features Assigned
Total Parking Spaces 6
Building
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 2485006018
Special Listing Condition Standard
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Listed by Roderick 'Rick' Raymundo Marcus & Millichap #01357019
Nearby Locations
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