The building is exempt from Los Angeles Rent Control and therefore an investor can benefit from higher allowable annual rent increases through AB 1482. Only two units have been given rent increases within the past year, potentially allowing a new owner to improve the property’s cashflow almost immediately (Buyer to verify). Situated within a mile of both the Burbank Town Center and the Empire Center, this property grants tenants convenient access to numerous major national retailers and an extensive slate of entertainment and dining options. Stores such as Costco, Target, Walmart, Nordstrom Rack, Macy’s, Cost Plus World Market, and Best Buy provide local residents a wide array of local shopping choices. Dubbed the "Media Capital of the World," the city of Burbank is home to a vast contingent of entertainment employers, which allows tenants convenient commutes to studios. Notable media production campuses in and around Burbank include Disney Studios, Walt Disney Imagineering, Warner Bros. Studios, Universal Studios, Nickelodeon Studios, Cartoon Network, and Dreamworks Animation.
Property Details
Price:
$5,300,000
MLS #:
24460053
Status:
Active
Baths:
0
Address:
1814 Grismer Avenue
Type:
Residential Income
Neighborhood:
610burbank
City:
Burbank
Listed Date:
Nov 4, 2024
State:
CA
ZIP:
91504
Lot Size:
10,112 sqft / 0.23 acres (approx)
Year Built:
1961
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Schools
Interior
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Parking Features
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Stories Total
2
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Community
- Address1814 Grismer Avenue Burbank CA
- Area610 – Burbank
- CityBurbank
- CountyLos Angeles
- Zip Code91504
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1814 Grismer Avenue
Burbank, CA
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