1700 Grismer Avenue, Burbank, CA 91504 - MLS#BB25062782

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Arash Rokni

arash@roknigroup.com +1(619) 762-0777

$2,650,000

Est. payment - /mo

4 Beds

4 Baths

10,603 Sqft Lot

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UPDATED:

Key Details

Property Type Multi-Family

Sub Type Res Income 2-4 Units

Listing Status Active

Purchase Type For Sale

MLS Listing ID BB25062782

Bedrooms 4

HOA Y/N No

Lot Size 10,603 Sqft

Property Sub-Type Res Income 2-4 Units

Property Description

This is an incredible value-add opportunity situated in a highly desirable area of Burbank. Boasting a generous 10,603 sq. ft. lot, this property offers significant development potentialpossibility to build up to 10 units, subject to verification and approval by the City of Burbank. Buyers are encouraged to conduct their own due diligence with the city to explore the full scope of development options. Currently, the property features six well-maintained residential units, thoughtfully distributed across three separate garden-style buildings. The unit mix includes: Three (3) units with 1 bedroom and 1 bathroom, and Three (3) units with 2 bedrooms and 1 bathroom. Each unit offers a comfortable and functional living space, and five out of six units are equipped with central heating and air conditioning for year-round comfort. The interiors have been meticulously maintained, reflecting pride of ownership, and several long-term tenants add stability to this income-producing asset. Parking accommodations include a 4-car carport and three uncovered parking spaces, offering a total of 7 on-site parking spots. A coin-operated laundry area, conveniently located within one of the carports, provides additional income potential and convenience for tenants. Notably, the last two units were originally one large single-family residence that has been divided into two separate unitsthis alteration may have been done without permits, and buyers should investigate accordingly. To enhance the appeal, the seller is offering seller financing, and is willing to carry the first trust deed with 40%
This is an incredible value-add opportunity situated in a highly desirable area of Burbank. Boasting a generous 10,603 sq. ft. lot, this property offers significant development potentialpossibility to build up to 10 units, subject to verification and approval by the City of Burbank. Buyers are encouraged to conduct their own due diligence with the city to explore the full scope of development options. Currently, the property features six well-maintained residential units, thoughtfully distributed across three separate garden-style buildings. The unit mix includes: Three (3) units with 1 bedroom and 1 bathroom, and Three (3) units with 2 bedrooms and 1 bathroom. Each unit offers a comfortable and functional living space, and five out of six units are equipped with central heating and air conditioning for year-round comfort. The interiors have been meticulously maintained, reflecting pride of ownership, and several long-term tenants add stability to this income-producing asset. Parking accommodations include a 4-car carport and three uncovered parking spaces, offering a total of 7 on-site parking spots. A coin-operated laundry area, conveniently located within one of the carports, provides additional income potential and convenience for tenants. Notably, the last two units were originally one large single-family residence that has been divided into two separate unitsthis alteration may have been done without permits, and buyers should investigate accordingly. To enhance the appeal, the seller is offering seller financing, and is willing to carry the first trust deed with 40% down payment for a term of two years, with competitive interest rates. This is a rare chance to secure a valuable investment with favorable financing terms. Offers are subject to inspection

Location

State CA

County Los Angeles

Area Burbank (91504)

Zoning Assessor

Interior

Cooling Central Forced Air

Exterior

Roof Type Composition

Building

Lot Description Sidewalks

Story 1

Lot Size Range 7500-10889 SF

Level or Stories 1 Story

Others

Monthly Total Fees $74

Space Rent $2,032

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Listed by Joyce Starleaf • Equity Union

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Arash Rokni

REALTOR® | CADRE# 02005305

+1(619) 762-0777 | arash@roknigroup.com

San Diego Communities

1700 Grismer Avenue Burbank, CA 91504

Arash Rokni

Key Details

Location

Interior

Exterior

Building

Others

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