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Multifamily

1219-1221 South Lake Street

1219 S Lake St, Burbank, CA 91502

Listing Price: $1,725,000

Cap Rate
3.04%
Number of Units
5
Occupancy
100.0%
Price/Unit
$345,000
Price/Gross SF
$522.09
Gross SF
3,304

Investment Overview

Marcus & Millichap is proud to exclusively present the opportunity to acquire 1219 & 1221 S. Lake Street, a 5-unit multifamily investment property located in Burbank, California. Built in 1932, the property sits on 0.14 acre and has a building size of approximately 3,304 square feet. The building is comprised of two buildings that consist of one studio/one-bathroom, one one-bedroom/one-bathroom, one two-bedroom/one-bathroom, and two two-bedroom/two-bathroom units. Downstairs units have private enclosed backyards. All units are individually metered for gas and electricity. The apartment is ideally situated near Downtown Burbank and with easy access to the 5 Golden State and the 134 Ventura Freeway. The property is in close proximity to several major employers including IKEA, The Home Depot, and Ralphs, and recreational parks such as the Los Angeles Zoo, Bird Sanctuary, and the Griffith Observatory. The property provides a convenient living opportunity that is less than two miles from the Burbank Metro Link for easy commute to Central Los Angeles or the soon-to-be-international Hollywood Burbank Airport. The City of Burbank is a highly desirable rental market and is known as the media capital of the world. It is home to Disney Studios, Warner Brothers, and the Burbank Studios. With a walk score of 70, the property is in one of the best school districts in Los Angeles County and minutes’ drive away from New York Film Academy and Woodbury University.

Investment Highlights

  • Excellent Location
  • Over 28% Rental Upside
  • First Time for Sale in Nearly 30 Years
  • Great Mix of Studio, One-Bedroom, and Two-Bedroom Units
  • All Units are Individually Metered for Gas and Electricity
  • Population in Excess of 535,000 with Five Mile Radius
  • Average Household Income in Excess of $103,000

Exclusively Listed By

Multifamily

1219-1221 South Lake Street

Listing Price: $1,725,000

Cap Rate
3.04%
Number of Units
5
Occupancy
100.0%
Price/Unit
$345,000
Price/Gross SF
$522.09
Gross SF
3,304

Investment Highlights

  • Excellent Location
  • Over 28% Rental Upside
  • First Time for Sale in Nearly 30 Years
  • Great Mix of Studio, One-Bedroom, and Two-Bedroom Units
  • All Units are Individually Metered for Gas and Electricity
  • Population in Excess of 535,000 with Five Mile Radius
  • Average Household Income in Excess of $103,000

Investment Overview

Marcus & Millichap is proud to exclusively present the opportunity to acquire 1219 & 1221 S. Lake Street, a 5-unit multifamily investment property located in Burbank, California. Built in 1932, the property sits on 0.14 acre and has a building size of approximately 3,304 square feet. The building is comprised of two buildings that consist of one studio/one-bathroom, one one-bedroom/one-bathroom, one two-bedroom/one-bathroom, and two two-bedroom/two-bathroom units. Downstairs units have private enclosed backyards. All units are individually metered for gas and electricity. The apartment is ideally situated near Downtown Burbank and with easy access to the 5 Golden State and the 134 Ventura Freeway. The property is in close proximity to several major employers including IKEA, The Home Depot, and Ralphs, and recreational parks such as the Los Angeles Zoo, Bird Sanctuary, and the Griffith Observatory. The property provides a convenient living opportunity that is less than two miles from the Burbank Metro Link for easy commute to Central Los Angeles or the soon-to-be-international Hollywood Burbank Airport. The City of Burbank is a highly desirable rental market and is known as the media capital of the world. It is home to Disney Studios, Warner Brothers, and the Burbank Studios. With a walk score of 70, the property is in one of the best school districts in Los Angeles County and minutes’ drive away from New York Film Academy and Woodbury University.

Exclusively Listed By

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