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40-Bedroom Residential Income — 1819 W Alameda Avenue, Burbank, CA
$7,850,000
1819 W Alameda Avenue, Burbank, CA
About this property
1819 W. Alameda Ave is offered at a 6.20% cap rate and comprises 20 units in Burbank's Rancho Adjacent neighborhood, near the center of the city between Verdugo and Alameda Avenues. The unit mix includes 16 two-bedroom/two-bathroom units and 4 two-bedroom/one-bathroom units, 11 of which have already been remodeled giving new ownership a clear value-add roadmap: renovate the remaining nine units to bring them to market rent and capture the property's approximately 15% loss to lease by filling existing vacancies. Additional upside exists in monetizing the property's 40 parking spaces, which currently sit unrented.
Property details
Bedrooms
40
Bathrooms
40
Square feet
19,358
Year built
1986
Property type
Residential Income
Lot size
16,278 sqft
Location
1819 W Alameda Avenue • Burbank, CA 91506
Listed by
Douglas Steinriede · Dover Management Corp.
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