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Listed by Jared Levine • Keller Williams Realty Calabasas
$5,695,000
Est. payment /mo
11,589 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 11,589 sqft
Price per Sqft $491
MLS Listing ID CRSR25053862
HOA Y/N No
Originating Board Datashare California Regional
Year Built 1960
Lot Size 0.301 Acres
Property Sub-Type Other
Property Description
SELLER WANTS TO SEE OFFERS: We are pleased to present the opportunity to acquire Elm Gardens, a stabilized 16-unit multifamily property located in the highly sought-after Rancho Adjacent submarket of Burbank. Ideally positioned near major landmarks and entertainment hubs, Elm Gardens offers a quality living experience in one of Los Angeles’ most desirable rental markets. Originally constructed in 1960, the property sits on a 13,097 SF lot and features a building footprint of 11,589 SF, zoned BUR4. Elm Gardens presents an exceptional opportunity to acquire a stabilized asset in Burbank’s high-demand rental market, with further potential for value-add opportunities through tenant repositioning. Under current ownership, approximately 14 out of the 16 units have undergone various levels of updates, making this property an attractive option for investors seeking a stabilized investment with room for additional improvements. The property is not subject to local rent control but adheres to California's AB1482 Rent Control guidelines, offering a balanced regulatory environment. Burbank’s status as the “Media Capital of the World†ensures strong demand for rental properties, and Elm Gardens benefits from its proximity to major entertainment studios, businesses, and transit route
Location
State CA
County Los Angeles
Interior
Fireplace No
Laundry Laundry Room
Building
Lot Description Cul-De-Sac
Water Public
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