First time on the market in over 27 years, a premier investment opportunity for 13 units in prime Burbank. Constructed in 1986, this well built and well-maintained apartment property is located within one block of N. Glenoaks Blvd. Thirteen 2 Bedroom + 2 bath units were designed with more square footage and larger room sizes than typical apartments of that era. Over the last four years, 4 units have been fully updated including new cabinets, Quartz countertops, vinyl plank flooring and updated bathrooms. Other features such as a secure intercom entry, central heat and AC in all units, gated parking (26 SIDE BY SIDE SPACES), pitched comp shingle roofs, individual water heaters and parking access elevator make this an excellent rental property investment. In 2019 the windows and sliding doors were replaced, in 2020 building exterior was fully repainted and in 2024 the balconies were inspected in accordance with SB721. There is an on-site laundry room with machines owned by sellers, and the building is separated metered for gas and electricity. Located in a highly desirable Burbank neighborhood, this property is within walking distance of the vibrant downtown Burbank and Town Center, providing residents with easy access to shopping, diverse dining options, and dynamic entertainment venues. The property’s proximity to major employers, such as Walt Disney Studios, Warner Brothers Studios, and DreamWorks Animation, further contributes to the appeal of its location. With limited property sales in this area, don’t miss this chance to acquire a top-quality building in a prime location that will serve as a generational investment. Property is subject to AB1482 Rent Control. PLEASE DO NOT DISTURB TENANTS. INSPECTION UPON ACCEPTED OFFER.
Property Details
Price:
$5,298,000
MLS #:
24440913
Status:
Pending
Baths:
0
Address:
536 E Cypress Avenue
Type:
Residential Income
Neighborhood:
610burbank
City:
Burbank
Listed Date:
Sep 23, 2024
State:
CA
ZIP:
91501
Lot Size:
9,890 sqft / 0.23 acres (approx)
Year Built:
1986
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Schools
Interior
Appliances
Dishwasher, Disposal, Microwave
Cooling
Central Air
Heating
Central
Window Features
Double Pane Windows
Exterior
Parking Features
Community Structure, Controlled Entrance, Gated
Parking Spots
26.00
Pool Features
None
Roof
Composition, Shingle
Stories Total
3
Financial
Tenant Pays
Electricity, Gas
Map
Community
- Address536 E Cypress Avenue Burbank CA
- Area610 – Burbank
- CityBurbank
- CountyLos Angeles
- Zip Code91501
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Courtesy of Realty Investment Advisors, Inc.. Disclaimer: All data relating to real estate for sale on this page comes from the Broker Reciprocity (BR) of the California Regional Multiple Listing Service. Detailed information about real estate listings held by brokerage firms other than include the name of the listing broker. Neither the listing company nor shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The Broker providing this data believes it to be correct, but advises interested parties to confirm any item before relying on it in a purchase decision. Copyright 2024. California Regional Multiple Listing Service. All rights reserved.
536 E Cypress Avenue
Burbank, CA
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