This is an incredible value-add opportunity situated in a highly desirable area of Burbank. Boasting a generous 10,603 sq. ft. lot, this property offers significant development potential—possibility to build up to 10 units, subject to verification and approval by the City of Burbank. Buyers are encouraged to conduct their own due diligence with the city to explore the full scope of development options.
Currently, the property features six well-maintained residential units, thoughtfully distributed across three separate garden-style buildings. The unit mix includes:
Three (3) units with 1 bedroom and 1 bathroom, and
Three (3) units with 2 bedrooms and 1 bathroom.
Each unit offers a comfortable and functional living space, and five out of six units are equipped with central heating and air conditioning for year-round comfort. The interiors have been meticulously maintained, reflecting pride of ownership, and several long-term tenants add stability to this income-producing asset.
Parking accommodations include a 4-car carport and three uncovered parking spaces, offering a total of 7 on-site parking spots. A coin-operated laundry area, conveniently located within one of the carports, provides additional income potential and convenience for tenants.
Notably, the last two units were originally one large single-family residence that has been divided into two separate units—this alteration may have been done without permits, and buyers should investigate accordingly.
To enhance the appeal, the seller is offering seller financing, and is willing to carry the first trust deed with 40% down payment for a term of two years, with competitive interest rates. This is a rare chance to secure a valuable investment with favorable financing terms.
Offers are subject to inspection
Currently, the property features six well-maintained residential units, thoughtfully distributed across three separate garden-style buildings. The unit mix includes:
Three (3) units with 1 bedroom and 1 bathroom, and
Three (3) units with 2 bedrooms and 1 bathroom.
Each unit offers a comfortable and functional living space, and five out of six units are equipped with central heating and air conditioning for year-round comfort. The interiors have been meticulously maintained, reflecting pride of ownership, and several long-term tenants add stability to this income-producing asset.
Parking accommodations include a 4-car carport and three uncovered parking spaces, offering a total of 7 on-site parking spots. A coin-operated laundry area, conveniently located within one of the carports, provides additional income potential and convenience for tenants.
Notably, the last two units were originally one large single-family residence that has been divided into two separate units—this alteration may have been done without permits, and buyers should investigate accordingly.
To enhance the appeal, the seller is offering seller financing, and is willing to carry the first trust deed with 40% down payment for a term of two years, with competitive interest rates. This is a rare chance to secure a valuable investment with favorable financing terms.
Offers are subject to inspection
Property Details
Price:
$2,700,000
MLS #:
BB25062782
Status:
Active
Baths:
0
Address:
1700 Grismer Avenue
Type:
Residential Income
Subtype:
Apartment
Neighborhood:
610burbank
City:
Burbank
Listed Date:
Mar 20, 2025
State:
CA
ZIP:
91504
Lot Size:
10,603 sqft / 0.24 acres (approx)
Year Built:
1941
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Schools
Interior
Cooling
Central Air
Fireplace Features
None
Heating
Central
Exterior
Community Features
Gutters, Sidewalks, Street Lights
Fencing
Block, Chain Link
Garage Spaces
6.00
Lot Features
Back Yard, Front Yard, Lot 10000-19999 Sqft, Rectangular Lot, Level
Parking Spots
12.00
Pool Features
None
Roof
Composition
Sewer
Public Sewer
Stories Total
1
Water Source
Public
Financial
Tenant Pays
Cable T V, Electricity, Gas
Map
Community
- Address1700 Grismer Avenue Burbank CA
- Area610 – Burbank
- CityBurbank
- CountyLos Angeles
- Zip Code91504
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1700 Grismer Avenue
Burbank, CA
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