Burbank CA  home offered at $9,900,000 

Call Lisa DiNoto Group at (909)921-2544 to see this home.

 

1300 W Olive Avenue
Burbank, California CA 91506-2245
Sold For: $7,500,000
Listing ID: SR22211936
Price/SqFt: $387.56
Status: Closed
Sold Date: 3/10/2023
SqFt: 19,352 Sq Ft
Acres: 0.657 Acres
Year Built: 1956

This well kept 40-unit apartment building is comprised of 20-studios/ 20-1-bed units, the building has 33 on-site parking spaces, a pool, laundry room on-site and is located across the street from Olive Park, near downtown Burbank. Stoves/Refrigerators are provided to each tenant by owner, owner pays water/trash.

Primary Features

County: Los Angeles
Price Reduction Date: 2022-10-24T16:29:50+00:00
Price/SqFt: 387.56
Property Type: Residential Income
Year Built: 1956
Zoning: BUR4-1*

Interior

Appliances: yes
Appliances: Gas Range, Refrigerator
Average 1 Bed Area: 675
Average 1 Bed Area Units: Square Feet
Average 2 Bed Area Units: Square Feet
Average 3 Bed Area Units: Square Feet
Average Studio Area: 350
Average Studio Area Units: Square Feet
Building Area Units: Square Feet
Common Walls: 2+ Common Walls
Cooling: yes
Cooling Type: Wall/Window Unit(s)
Fireplace: no
Fireplace Features: None
Flooring: Carpet, Laminate, Vinyl
Heating: yes
Heating Type: Wall Furnace
Laundry: yes
Laundry Features: Community
Levels: Two
Spa: no
Spa Features: None
Stories Total: 2

External

Construction Materials: Stucco
Lot Features: 36-40 Units/Acre, Lot 20000-39999 Sqft
Lot Size Area: 28631
Lot Size Source: Assessor
Lot Size Square Feet: 28631
Number Of Buildings: 2
Parking: yes
Parking Features: Unassigned
Parking Total: 33
Pool Features: Community
Private Pool: no
Property Attached: yes
Roof: Shingle
Sewer: Public Sewer
Uncovered Spaces: 33
View: yes
View Type: Mountain(s), Neighborhood, Pool
Water Source: Public

Location

Country: US
Elevation Units: Feet
MLS Area Major: 610 - Burbank

Additional

Additional Parcels: no
Assessments: None
Association: no
Community Features: Park, Sidewalks
Days On Market: 37
List Agent State License: 01023622
List Office State License: 01519420
Lot Size Units: Square Feet
New Construction: no
Number Of Separate Electric Meters: 40
Number Of Separate Gas Meters: 40
Number Of Units Leased: 40
Number Of Units Total: 40
Parcel Number: 2446031031
Senior Community: no
Year Built Source: Assessor

Financial

Cap Rate: 4.5
Electric Expense: 3918
Fuel Expense: 9201
Gross Scheduled Income: 542400
Insurance Expense: 17960
Land Lease: no
Laundry Income: 3000
Net Operating Income: 495023
Operating Expense: 47376.4
Price Per Unit: 247500
Rent Control: yes
Special Listing Conditions: Standard
Tax Census Tract: 3108.00
Tax Lot: 10
Tax Tract Number: 6310
Tenant Pays: Electricity, Gas
Total Actual Rent: 542400
Total Expenses: 47376
Trash Expense: 8115
Vacancy Allowance Rate: 3
Water Sewer Expense: 8181

Zoning Info


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Listed by: BillToth, DRE #01023622 from First Class Real Estate 818-569-0210

Contact - Listing ID SR22211936

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Lisa DiNoto

9483 Haven Ave #100
Rancho Cucamonga, CA 91730
Phone: 9099212544

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