18
See all 18 photos
$5,600,000
Est. payment /mo
18 Beds
16 Baths
9,841 SqFt
New
240 E Providencia AVE Burbank, CA 91502
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Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 9,841 sqft
Price per Sqft $569
MLS Listing ID 25619085
Bedrooms 18
HOA Y/N No
Year Built 1951
Lot Size 0.409 Acres
Property Description
We are pleased to present a 15-unit apartment property in the highly desirable city of Burbank, California. Built in 1951 and fully renovated in 2023, the property features twelve (12) one-bedroom/one-bath units, two (2) two-bedroom/one-bath units, and one (1) two-bedroom/two-bath unit, totaling approximately 9,841 square feet on a 17,821 square foot lot. This turnkey property offers all major systems brand new, including electrical, plumbing, and roof, along with modern interiors featuring new countertops, cabinets, flooring, recessed lighting, washer/dryer, and central A/C and heat. The property delivers a 5.64% Day 1 cap rate, providing immediate income for investors. Located just south of Glenoaks Blvd and near Downtown Burbank, residents enjoy convenient access to shopping, dining, and entertainment at Burbank Town Center, AMC Theatres, and San Fernando Boulevard, as well as proximity to major employers such as Disney, Warner Bros., and Nickelodeon Animation. With excellent connectivity to the I-5 Freeway, Magnolia Blvd, and Metrolink stations, this property is a rare opportunity to acquire a well-located, turnkey multifamily asset in one of Los Angeles County's most stable rental markets. Strong fundamentals, a desirable unit mix, and consistent tenant demand make it an attractive investment with upside through rent optimization.
Location
State CA
County Los Angeles
Area 610 - Burbank
Zoning BUR4*
Interior
Heating Central
Cooling Central Air
Fireplace No
Exterior
Parking Features Uncovered
Total Parking Spaces 17
Building
Story 2
Entry Level Multi/Split
Level or Stories Multi/Split
New Construction No
Others
Senior Community No
Tax ID 2453031008
Special Listing Condition Standard
Listed by Michael Sterman Marcus & Millichap
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