19
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$9,100,000
Est. payment /mo
48 Beds
48 Baths
23,440 SqFt
New
515 E Elmwood AVE Burbank, CA 91501
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Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 23,440 sqft
Price per Sqft $388
MLS Listing ID 25618945
Bedrooms 48
HOA Y/N No
Year Built 1987
Lot Size 0.420 Acres
Property Description
Constructed in 1987, the property consists entirely of two bedroom/two bathroom units. Situated north of Glenoaks Boulevard in the foothills of the Verdugo Mountains, the property allows tenants convenient access to Downtown Burbank and the Burbank Town Center shopping mall. Due to the fact that the property is subject only to Burbank's local rent ordinance, a new owner may be able to recapture the rent upside and keep pace with improving rent growth via higher allowable rent increases, when compared with other assets subject to Los Angeles rent control. An investor can enjoy additional income via the landlord-owned laundry facilities as well as pet rent collected from tenants. 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.
Location
State CA
County Los Angeles
Area 610 - Burbank
Zoning BUR4*
Interior
Heating None
Cooling None
Fireplace No
Exterior
Parking Features Assigned
Total Parking Spaces 48
Building
Story 3
Entry Level Multi/Split
Level or Stories Multi/Split
New Construction No
Others
Senior Community No
Tax ID 5621025049
Special Listing Condition Standard
Listed by Roderick 'Rick' Raymundo Marcus & Millichap
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