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    1401 W Alameda Ave

    Burbank, CA 91506
    • $5,585,000
    • STATUS: Active
    • ON SITE: 34 days
    • MLS #: 21-775558
    Price Reduced
    $5,585,000
    • 0
      BEDS
    • 0.34
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 8,372
      SQFT
    • $667
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1951
    County:
    Area:

    School Ratings & Info

    Description

    JUST REDUCED! Known as the Chateau Apartments, 1401 W. Alameda Avenue is a 20 unit multifamily asset ideally located in the coveted enclave of Burbank. Owned and operated by the Seller for nearly 40 years, the property offers a great unit mix for the area consisting of large studio apartments, all offering significant rental upside. Built in 1951 and exempt from Burbank rent control (AB 1482 applies), the property features a beautiful central courtyard with a sparkling pool. There is on-site parking for 16 cars and an on-site laundry facility. Priced at only $287,500 per unit! Overall, current rents hover significantly below market providing the astute investor with a long-term blueprint to add value and increase income. Please note: Do not disturb tenants or enter the property without permission.

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    Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-09-26T23:42:28.45. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
    www.jelmbergteam.com/homes/120734121
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    1401 W Alameda Ave Burbank, CA 91506

    • Price: $5,585,000
    • Status: Active
    • MLS #: 21-775558
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.34
    Acres
    8,372
    SQFT
    $667
    $/SQFT
    1951
    Built
    Neighborhood:
    Burbank
    County:
    Los Angeles
    Area:
    Burbank
    Property Description
    JUST REDUCED! Known as the Chateau Apartments, 1401 W. Alameda Avenue is a 20 unit multifamily asset ideally located in the coveted enclave of Burbank. Owned and operated by the Seller for nearly 40 years, the property offers a great unit mix for the area consisting of large studio apartments, all offering significant rental upside. Built in 1951 and exempt from Burbank rent control (AB 1482 applies), the property features a beautiful central courtyard with a sparkling pool. There is on-site parking for 16 cars and an on-site laundry facility. Priced at only $287,500 per unit! Overall, current rents hover significantly below market providing the astute investor with a long-term blueprint to add value and increase income. Please note: Do not disturb tenants or enter the property without permission.
    Exterior Features

    Covered Parking 16 Lot Location Corner Lot Lot Size Area 14794 Other Structures None Parking Garage Carport Detached Total Parking 16

    Interior Features

    Baths Total 20.00 Cooling Other Equipment Other Heating Wall Laundry Laundry Area

    Property Features

    Assessed Total Value 1059738 Gross Income 251928 Gross Operating Income 245665 Like Units1 20 Net Operating Income 131377.00 Number Of Buildings 1 Number Of Units 20 Rent Control YN No Sale Type Standard Source Living Area Assessor Source Lot Size Area Assessor Total Annual Expense 114288 Type Of Units Studios Year Built Source Assessor Zoning Bur4*

    Listing provided courtesy of Jonathan Taksa DRE#01366169 of Remax Commercial And Investment Realty.


    Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-09-26T23:42:28.45. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
     
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