Silva Babaian  Realtor, Real Estate Agent, Granada Hills, CA

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    2001 Peyton Avenue, Burbank, CA 91504
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    2001 Peyton Avenue
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    • MLS#: 24436685 ( )
    • Street Address: 2001 Peyton Avenue
    • Viewed: 14
    • Price: $5,995,000
    • Price sqft: $0
    • Waterfront: No
    • Year Built: 1960
    • Bldg sqft: 0
    • Days On Market: 108
    • Additional Information
    • County: LOS ANGELES
    • City: Burbank
    • Zipcode: 91504
    • Provided by: Global Platinum Properties, Inc.
    • Contact: Armin Armin
    • California Regional MLS IDX
    • DMCA Notice
    • Description
      This is an excellent opportunity to invest in a rare non rent controlled 20 unit building (95% occupied) in the prime Burbank area, priced at only $299k per door for renovated units. The property boasts an incredible current 5.25% Cap Rate and 13.2 GRM with upside potential to reach a 5.7% cap rate and 12.4 GRM on proforma. 16 fully renovated units with permits and 1 partially remodeled units offer promising long term value for any forward thinking investor. Additionally, the large lot size of approximately 19,166 SF provides ample parking spaces, and there is potential for future upside by adding multiple ADUs (Accessory Dwelling Units).Non LA City rent controlled asset allowing significant 8.9% annual rent increases (5%+CPI) for future upside. 16 units have been completely renovated with permits (1 vacant) and boast a high end aesthetic with new cabinets, flooring, modern lighting, new bathrooms, stainless steel appliances, as well as major exterior capital improvements. Amenities include a renovated courtyard with seating areas and a fire pit, on site laundry facilities, and parking for convenience. Prime Burbank location is just minutes away from media giants such as Warner Bros Studios, Walt Disney studios, and Burbank Town Center Shopping Mall.
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    Features
    Appliances
    1. Refrigerator
    Building Area Total
    1. 9232.00
    Country
    1. US
    Flooring
    1. Laminate
    Heating
    1. Wall Furnace
    Levels
    1. Two
    Netoperatingincome
    1. 315046.00
    Parcel Number
    1. 2468016004
    Parking Features
    1. Assigned
    2. Uncovered
    Postalcodeplus4
    1. 3541
    Sourcesystemkey
    1. 24-436685:CLAW
    Totalexpenses
    1. 123061.00
    Views
    1. 14
    Year Built
    1. 1960
    Zoning
    1. BUR4*
    Headshot for Associate Silva Babaian
    1. Silva Babaian / Realtor
    2. Coldwell Banker Exclusive
    3. CalBRE Lic # 01365805
    4. Mobile: 818.414.6744
    5. Fax: 818.338.5836