303 E Alameda Avenue

    Burbank, CA 91502
    • $8,400,000
    • STATUS: Active
    • ON SITE: 45 days
    • ID#: SR18242869
    UPDATED: 48 min ago
    $8,400,000
    • 0
      BEDS
    • 0.32
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 17,572
      SQFT
    • $478
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1963
    County:

    School Ratings & Info

    Description

    We are pleased to present to you 303EAST, an iconic multi-family asset in non-rent controlled Burbank Ca. 303EAST is a modernized 20 unit building encompassing spacious floor plans with upgraded units. The offering is being delivered at 16.4 GRM on current in-place rents. Great unit mix of (6) 1+1 , (13) 2+1.75, and (1) 2+1.75 penthouse unit overlooking the Verdugo Mountains. Unit upgrades include stainless steel appliances, granite counter tops, newer cabinetry, wood plank flooring. Strong street visibility, extensive capital improvements, and architectural features contribute to an almost non-existent vacancy factor. Some of the extensive property upgrades also include central AC, solar panels on the roof, polyurethane coated roof, new concrete walkways, lighting and signage. There is a large laundry room & parking on site.*Please contact listing agent for full offering memorandum.*

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-11-20T18:34:06.593. 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. Licensed in the State of California, USA.
    www.fredsedgroup.com/homes/88265605

    303 E Alameda Avenue Burbank, CA 91502

    • Price: $8,400,000
    • Status: Active
    • Updated: 48 min ago
    • ID#: SR18242869
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.32
    Acres
    17,572
    SQFT
    $478
    $/SQFT
    1963
    Built
    Neighborhood:
    610 - Burbank
    County:
    Los Angeles
    Area:
    610 - Burbank
    Property Description
    We are pleased to present to you 303EAST, an iconic multi-family asset in non-rent controlled Burbank Ca. 303EAST is a modernized 20 unit building encompassing spacious floor plans with upgraded units. The offering is being delivered at 16.4 GRM on current in-place rents. Great unit mix of (6) 1+1 , (13) 2+1.75, and (1) 2+1.75 penthouse unit overlooking the Verdugo Mountains. Unit upgrades include stainless steel appliances, granite counter tops, newer cabinetry, wood plank flooring. Strong street visibility, extensive capital improvements, and architectural features contribute to an almost non-existent vacancy factor. Some of the extensive property upgrades also include central AC, solar panels on the roof, polyurethane coated roof, new concrete walkways, lighting and signage. There is a large laundry room & parking on site.*Please contact listing agent for full offering memorandum.*
    Exterior Features

    Garage Spaces 0.00 Lot Features 16-20 Units/Acre Lot Size Source Assessor Lot Size Units Square Feet Parking Total 21.00 Pool Features None Pool Private YN No Property Attached YN Yes

    Interior Features

    Average Studio Area Units Square Feet Average1 Bed Area Units Square Feet Average2 Bed Area Units Square Feet Average3 Bed Area Units Square Feet Common Walls 2+ Common Walls Laundry Features AreaCommunity Levels Three Or More

    Property Features

    Additional Parcels YN No Building Area Units Square Feet Cap Rate 4.10 Community Features CurbsFoothillsGuttersMountainousStorm DrainsStreet Lighting Country Us Electric Expense 0.00 Elevation Units Feet Fuel Expense 0.00 Gross Income 511800.00 Gross Multiplier 16.40 Gross Scheduled Income 511800.00 Insurance Expense 0.00 Land Lease YN No Laundry YN Yes Net Operating Income 342565.00 New Construction YN No New Taxes Expense 0.00 Number Of Separate Electric Meters 21 Number Of Separate Gas Meters 21 Number Of Separate Water Meters 1 Operating Expense 158999.00 Professional Management Expense 0.00 Rent Control YN No Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Total Expenses 158999.00 Trash Expense 0.00 Water Sewer Expense 0.00 Water Source Public Year Built Source Assessor Zoning Buc2*

    Listing provided courtesy of Levon Alexanian of Keller Williams World Media Ce.


    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-11-20T18:34:06.593. 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. Licensed in the State of California, USA.
     
    Fred Sed Realty - Keller Williams
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