Multifamily
1814 Grismer Ave
1814 Grismer Ave, Burbank, CA 91504
Listing Price: $5,500,000
Investment Overview
Marcus & Millichap is pleased to announce the opportunity to purchase 1814 Grismer Avenue, a 14-unit multifamily property located in the desirable city of Burbank, CA. The building is exempt from Los Angeles Rent Control and therefore an investor can benefit from higher allowable annual rent increases through AB 1482. Only two units have been given rent increases within the past year, potentially allowing a new owner to improve the property’s cash flow almost immediately (Buyer to verify).
The property features copper plumbing throughout most of the building, while the majority of units have been upgraded with new granite countertops, dual-pane windows, wood laminate flooring, and new AC units. The on-site laundry facilities are owned by the landlord, allowing for a more substantial supplemental revenue stream.
Situated within a mile of both the Burbank Town Center and the Empire Center, this property grants tenants convenient access to numerous major national retailers and an extensive slate of entertainment and dining options. Stores such as Costco, Target, Walmart, Nordstrom Rack, Macy’s, Cost Plus World Market, and Best Buy provide local residents a wide array of local shopping choices.
Dubbed the “Media Capital of the World,” the city of Burbank is home to a vast contingent of entertainment employers, which allows tenants convenient commutes to studios. Notable media production campuses in and around Burbank include Disney Studios, Walt Disney Imagineering, Warner Bros. Studios, Universal Studios, Nickelodeon Studios, Cartoon Network, and Dreamworks Animation.
Investment Highlights
- Desirable Burbank Location – One Mile from Burbank Town Center, Half-Mile from Empire Center
- Not Subject to Los Angeles Rent Control – Higher Allowable Rent Increases Under AB1482
- Mostly Copper Plumbing, Upgraded Electrical Disconnect Box, New AC Units, and New Dual-Pane Windows
- Easy Commute to Several Major Studio Employers – Warner Bros. Studios, Nickelodeon Studios, Walt Disney Imagineering, Disney Studios, Universal Studios, and Dreamworks Animation
- Short Distance to Numerous Retailers, Including Target, Costco, Nordstrom Rack, Walmart, AMC Theatres, Macy's, Best Buy, and Cost Plus World Market
- Additional Revenue Stream Generated Through Landlord-Owned Laundry Facilities
- Deemed "Very Walkable" with a Walk Score of 84
Exclusively Listed By
Financing By
Listing Price: $5,500,000
Investment Highlights
- Desirable Burbank Location – One Mile from Burbank Town Center, Half-Mile from Empire Center
- Not Subject to Los Angeles Rent Control – Higher Allowable Rent Increases Under AB1482
- Mostly Copper Plumbing, Upgraded Electrical Disconnect Box, New AC Units, and New Dual-Pane Windows
- Easy Commute to Several Major Studio Employers – Warner Bros. Studios, Nickelodeon Studios, Walt Disney Imagineering, Disney Studios, Universal Studios, and Dreamworks Animation
- Short Distance to Numerous Retailers, Including Target, Costco, Nordstrom Rack, Walmart, AMC Theatres, Macy's, Best Buy, and Cost Plus World Market
- Additional Revenue Stream Generated Through Landlord-Owned Laundry Facilities
- Deemed "Very Walkable" with a Walk Score of 84
Investment Overview
Marcus & Millichap is pleased to announce the opportunity to purchase 1814 Grismer Avenue, a 14-unit multifamily property located in the desirable city of Burbank, CA. The building is exempt from Los Angeles Rent Control and therefore an investor can benefit from higher allowable annual rent increases through AB 1482. Only two units have been given rent increases within the past year, potentially allowing a new owner to improve the property’s cash flow almost immediately (Buyer to verify). The property features copper plumbing throughout most of the building, while the majority of units have been upgraded with new granite countertops, dual-pane windows, wood laminate flooring, and new AC units. The on-site laundry facilities are owned by the landlord, allowing for a more substantial supplemental revenue stream. Situated within a mile of both the Burbank Town Center and the Empire Center, this property grants tenants convenient access to numerous major national retailers and an extensive slate of entertainment and dining options. Stores such as Costco, Target, Walmart, Nordstrom Rack, Macy’s, Cost Plus World Market, and Best Buy provide local residents a wide array of local shopping choices. Dubbed the “Media Capital of the World,” the city of Burbank is home to a vast contingent of entertainment employers, which allows tenants convenient commutes to studios. Notable media production campuses in and around Burbank include Disney Studios, Walt Disney Imagineering, Warner Bros. Studios, Universal Studios, Nickelodeon Studios, Cartoon Network, and Dreamworks Animation.