Sellers will carry the 1st loan with an acceptable down payment, and offer the interest rate at 5.00% fixed for the first 5 years. The buyer's potential has a positive cash flow with interest payment only. This will be a great Investment Opportunity in the Heart of Burbank. This well-maintained 5-unit property features a desirable front owner's unit and a two-story rear building with four additional rental units. Amenities include five garage parking spaces, one uncovered parking spot, and an on-site laundry room, ideal for both tenant convenience and additional income potential. Perfectly located near Warner Bros. and NBC Studios, and just 15 minutes from Universal Studios. The front unit is owner-occupied; it will be vacant at closing. The property underwent extensive renovations in 2022 and 2023, including a new roof on units and garages and new dual-pane windows in most units (except one). The current leases remain in place through August 31, 2025. The owner unit's rent can be set at the market rent, subject to California's rent control guidelines. The new owner can increase revenue through separate charges for garage parking and storage. Potential Value Add by building a new ADU above the current garage or converting it to an ADU. With rent increases taking effect, coupled with low building expenses and minimal maintenance, this property has the potential to achieve a cap rate exceeding 5.0%.
4,077 Sq Ft
5,691 Sq Ft Dimensione del lotto
investimento
Costruito in 1941
MLS/ID annuncio 25555629
2 Storie
5 Unità
Cooling - Window Units
Shingle
Composizione
Parking - On Street
Primary Bedroom Fireplace
Living Room Fireplace
Kitchen Fireplace
Bath Fireplace
Laminato
Heating - Natural Gas
In Unit Laundry
COSTO MENSILE TOTALE
0 USD
0 USD
0 USD