325 E Verdugo Avenue, Burbank, CA 91502
Property
Sold May 2024
Listing Agent: Gregory Shindler (DRE #02083460) · Listing Office: Marcus & Millichap · Contact: 818-212-2700 · Bought with: Gregory Shindler · Marcus & Millichap · MLS #24364345 · Source: CRMLS
About this property
Pleased to present 325 E Verdugo Ave, an 8 unit apartment building located in Burbank, CA. Built in 1954, this property consists of one (1) Bachelors unit, six (6) 1 Bedroom +1 Bathroom units, (1) 2 Bedroom + 1 Bathroom unit. The building is 4,856 gross square feet and sits on a 7,692 square foot lot that is BUR4 zoned.From the moment you set eyes on it, the seller's meticulous care for this property is evident. Situated on a picturesque, well-maintained street just steps from Downtown Burbank, residents will enjoy easy access to employment opportunities at renowned media institutions like Warner Bros Studios, Walt Disney Studios, and Universal Studios. Additionally, 325 E Verdugo Ave is conveniently close to popular dining spots and the Burbank Town Center.This prime location offers tenants immediate access to the 134 and 5 Freeways, as well as the Downtown Burbank Train Station, enhancing the area's connectivity. With its desirable location, unit mix, and potential for increased rental income, 325 E Verdugo Ave presents a compelling value-add opportunity for investors. Priced attractively at $225,000 per unit with a 15.83 Gross Rent Multiplier (GRM), this property is poised to deliver excellent returns.
Listing description from the May 2024 sale, as reported to CRMLS.
Sale history