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2001 Peyton Avenue
USD 5,495,000
Property ID: 23332877
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2001 Peyton Avenue ,91504
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icon 19166 SqFt
icon Built in 1960
icon USD 287/SqFt
icon 0 Bed
icon 20 Full
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Location Street View
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Interior Details
Bedrooms
0
Bathrooms
20
Interior Size
9232
Construction Details
Property Type --
Property Condition --
Architectural Style --
New Construction --
Year Built 1960
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Detailed Introduction Of This Home
Huge 500k Price Reduction! This is an excellent opportunity to invest in a rare non-rent controlled 20-unit building (90% occupied) in the prime Burbank area, priced at only $274k per door for renovated units. The property boasts an incredible current 5.75% Cap Rate and 12.5 GRM with upside potential to reach a 6.4% cap rate and 11.3 GRM on proforma. 14 fully renovated units with permits and 2 partially remodeled units offer promising long-term value for any forward-thinking investor. Additionally, the large lot size of approximately 19,166 SF provides ample parking spaces as well as potential for future upside by adding multiple ADUs (Accessory Dwelling Units). Non-LA-City rent-controlled asset allowing significant 8.8% annual rent increases (5%+CPI) for future upside. 14 units have been completely renovated with permits (2 vacant) and boast a high-end aesthetic with new cabinets, flooring, modern lighting, new bathrooms, stainless steel appliances, as well as major exterior capital improvements. Amenities include a renovated courtyard with seating areas and a fire pit, on-site laundry facilities, and parking for convenience. Prime Burbank location just minutes away from media giants such as Warner Bros Studios, Walt Disney Studios, and Burbank Town Center Shopping Mall.
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Contact Development/Agent
Cissy Tang
TEL: (+1)626 9868**** icon
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Contact Development/Agent
icon
Cissy Tang
(+1)626 9868**** icon
Please enter your nationality
+87
Cannot be empty
Email address is invalid Email address not authenticated!
Cissy Tang
(+1)626 9868**** icon
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Photos (38)
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2001 Peyton Avenue
USD 5,495,000 0 Beds
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