627 E Providencia Avenue, Burbank, CA 91501
Property · 2 recorded sales since 2014
Sold October 2015
Listing Agent: David Fogg (DRE #01149065) · Listing Office: Keller Williams WMC · Contact: 818-239-3500 · Bought with: Reza Ghobadi · Keller Williams Realty - Studi · MLS #BB15148693 · Source: CRMLS
About this property
Massive 10 unit building with nine 2 bedroom, 1 bath units and one 2 bedroom, 2 bath unit. All the units are large, over 800 Sq.Ft. and many nicely updated. The building is located in the highest demand area for upscale rentals, above Glenoaks in Burbank. The building has updates to the plumbing, new Milgard windows and fresh exterior paint. Laundry room with leased washers and dryers and storage space. Eleven electrical and gas meters, ten covered parking spots plus additional tandem parking. There is no rent control in Burbank. Current annual gross income is $188,400 with lots of upside potential. Property has a newer loan with chase mortgage that must be assumed by buyer. The principal is approx $1,227,882.00 at 3.46% the loan is a 5 year fixed and converts to an adjustable for the balance of 25 years. The buyer must assume this loan or use this Chase office to get a larger loan to avoid the a large pre-pay.
Listing description from the October 2015 sale, as reported to CRMLS.
Sale history
