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Listed by: Roderick 'Rick' Raymundo (213) 943-1855 DRE #01357019 | Marcus & Millichap (818) 212-2700
$3,895,000
14 Beds
- 13 Baths
9,306sqft
1799 N Hollywood Way, Burbank, CA 91505
$3,895,000
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Multi Family
Built in 1963
$-- HOA
10,154 sqft lot
$419/sq.ft
Description
Situated near the popular Magnolia Park neighborhood, the property occupies a corner lot within a quiet area surrounded by mostly single-family residences. Due to the fact that the property is subject only to Burbank's local rent ordinance, a new owner may be able to recapture the rent upside and keep pace with improving rent growth via higher allowable rent increases, when compared with other assets subject to Los Angeles rent control. The current owners have completed all seismic retrofit repairs (Buyer to verify), saving a new investor from an otherwise costly maintenance expense. The property also offers investors a strong supplemental revenue stream via its landlord-...
Continue ReadingProperty Details
Status
Active
Type
Multi Family
No. of Stories
2
County
City
Neighborhood
Year Built
1963
HOA Fees
-
Finished Area
9,306 sqft
Lot Size
10,154 sqft lot
Basement Area
- sqft
MLS Name
California Regional MLS
MLS Number
25610503
MLS Status
Active
Days on Market
45
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