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1401 W Alameda Avenue

Burbank, CA 91506
  • $5,585,000
  • STATUS: Active
  • ON SITE: 61 Days
  • ID#: 21775558
$5,585,000
  • 0
    BEDS
  • 0.33
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1951
County:

School Ratings & Info

Description

JUST REDUCED! Known as the Chateau Apartments, 1401 W. Alameda Avenue is a 20 unit multifamily asset ideally located in the coveted enclave of Burbank. Owned and operated by the Seller for nearly 40 years, the property offers a great unit mix for the area consisting of large studio apartments, all offering significant rental upside. Built in 1951 and exempt from Burbank rent control (AB 1482 applies), the property features a beautiful central courtyard with a sparkling pool. There is on-site parking for 16 cars and an on-site laundry facility. Priced at only $287,500 per unit! Overall, current rents hover significantly below market providing the astute investor with a long-term blueprint to add value and increase income. Please note: Do not disturb tenants or enter the property without permission.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2021-10-24T00:26:01.947. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Keller Williams Realty. Licensed in the State of California, USA.
www.therealestategirl.com/homes/120735914
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1401 W Alameda Avenue Burbank, CA 91506

  • Price: $5,585,000
  • Status: Active
  • ID#: 21775558
0
Beds
0
Baths
0
½ Baths
0.33
Acres
1951
Built
Neighborhood:
610 - Burbank
County:
Los Angeles
Area:
610 - Burbank
Property Description
JUST REDUCED! Known as the Chateau Apartments, 1401 W. Alameda Avenue is a 20 unit multifamily asset ideally located in the coveted enclave of Burbank. Owned and operated by the Seller for nearly 40 years, the property offers a great unit mix for the area consisting of large studio apartments, all offering significant rental upside. Built in 1951 and exempt from Burbank rent control (AB 1482 applies), the property features a beautiful central courtyard with a sparkling pool. There is on-site parking for 16 cars and an on-site laundry facility. Priced at only $287,500 per unit! Overall, current rents hover significantly below market providing the astute investor with a long-term blueprint to add value and increase income. Please note: Do not disturb tenants or enter the property without permission.
Exterior Features

Carport YN Yes Parking Features Detached Carport

Interior Features

Heating Wall Furnace Heating YN Yes

Property Features

Additional Parcels YN No Gross Income 251928 Listing Agreement Seller Reserved Listing Service Full Service Net Operating Income 131377 Rent Control YN No Senior Community YN No Special Listing Conditions Standard Zoning Bur4*

Listing provided courtesy of Jonathan Taksa of Remax Commercial And Investment Realty


Based on information from California Regional Multiple Listing Service, Inc. as of 2021-10-24T00:26:01.947. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Keller Williams Realty. Licensed in the State of California, USA.
 
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