115 North Myers Street

Burbank, CA 91506

$2,350,000
Price
12
Beds
9
Baths
6,680 Sq. Ft.
$352 / Sq. Ft.
6,680
Sq. Ft.
$352
per Sq. Ft.

Description

Pleased to present 115 N Myers St, a 7-unit apartment building located in Burbank, CA. Built in 1955, this property consists of three (3) 1 Bedroom+1 Bathroom units, (1) 2 Bedroom + 2 Bathroom units, (2) 2 Bedroom + 1 Bathroom units, and (1) 3 Bedroom + 2 Bathroom unit. The building is 6,680 gross square feet and sits on a 10,336 square foot lot that is Burbank R3 zoned. On the market for the first time in 45+ years, the family has meticulously cared for this property over the years. At first sight...Pleased to present 115 N Myers St, a 7-unit apartment building located in Burbank, CA. Built in 1955, this property consists of three (3) 1 Bedroom+1 Bathroom units, (1) 2 Bedroom + 2 Bathroom units, (2) 2 Bedroom + 1 Bathroom units, and (1) 3 Bedroom + 2 Bathroom unit. The building is 6,680 gross square feet and sits on a 10,336 square foot lot that is Burbank R3 zoned. On the market for the first time in 45+ years, the family has meticulously cared for this property over the years. At first sight you'll notice the lush landscaping and new windows, giving the property unique curb appeal typically not seen in vintage builds. Situated on a clean and quiet residential street, tenants enjoy convenient access to major employers including Walt Disney Studios and Warner Brothers Studios. This prime location offers tenants immediate access to the 134 Freeway, as well as the Downtown Burbank Train Station, enhancing the area's connectivity. With its desirable location, unit mix, and potential for increased rental income, 115 N Myers St, presents a compelling value-add opportunity for investors. Priced attractively at $375,000 per unit and $393 per square foot, this property is poised to deliver excellent returns.

Property Details for 115 North Myers Street

Zoning
BUR3*
Parcel Number
2444006008
Total Units
7.0
Living Area
6680
Source Living Area
Appraiser
Area
Burbank (610)
Vacancy Rate
0
Lot Size Area
10339
LISTING UPDATED: 08/15/2024 06:42 PM

Property Details for 115 North Myers Street

StatusActive
MLS #24-418291
Days on Market46
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1955
Lot Size0.24 AC / 10,339 SF
CountyLos Angeles County

Building Information for 115 North Myers Street

Stories-Residences-Year Built1955Building Size-Lot Size0.24 AC / 10,339 SF

Property Information for 115 North Myers Street

Community / Development
Community / Development
  • Number Of Units: 7
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 0
  • Number Of Buildings: 1
  • Type Of Units: Market
  • Security Features: None
  • Water Heaters: Yes
Contract Info
Contract Info
  • Disclosures: None
  • Listing Type: Exclusive Right To Sell
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $162,174
  • Net Operating Income: $99,012.00
  • Gross Income: $162,174
  • Cap Rate: 3.77%
  • Gross Rent Multiplier: $15.70
  • Actual Annual Gross Rent: $167,190.00
  • Total Annual Expense: 63161
Land / Lot Info
Land / Lot Info
  • Alley: Yes
  • Lot Acreage: 0.2374
  • Lot Size Square Feet: 10339
  • Lot Location: Alley Access, Corner Lot
Parking Details
Parking Details
  • Parking Garage: Carport, Garage - 1 Car
  • Total Parking: 8
  • Garage Spaces Total: 1
  • Carport Spaces Total: 7
  • Parking Features: Carport, Garage - Single Door
Interior Features
Interior Features
  • Levels: Two
  • Cooling Type: Window Unit(s)
  • Heating: Central
  • Heating Type: Central
  • Equipment: Dishwasher, Dryer, Washer
  • Laundry: Community
  • Laundry Equipment: Own
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 07-22-2024
Unit Details
Unit 1 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,783.00
  • Unit Actual Rent: $5,349.00
  • Unit Projected Rent: $2,600.00
  • Like Units: 3
Unit 2 Information
  • Unit Beds: 2
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $1,733.00
  • Unit Actual Rent: $1,733.00
  • Unit Projected Rent: $2,600.00
  • Like Units: 1
Unit 3 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,783.00
  • Unit Actual Rent: $3,566.00
  • Unit Projected Rent: $2,600.00
  • Like Units: 2
Unit 4 Information
  • Unit Beds: 3
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $3,100.00
  • Unit Actual Rent: $3,100.00
  • Unit Projected Rent: $3,400.00
  • Like Units: 1
Unit Details
  • Unit Type Type: 2106, 2107, 2108, 2109
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $152,201.00
  • Assessed Improvement Percent: 79.37
  • Assessed Land Value: $39,555.00
  • Assessed Land Percent: 20.63
  • Assessed Total Value: $191,756.00

Property History for 115 North Myers Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 115 North Myers Street

Taxable ValueLand$39,555Additions$153,776Total$193,331
Tax Record2023$3,185 ($265 / month)
Home Facts
Total Finished SqFt6,186 SqFtAbove Grade Finished SqFt6,186 SqFtLot Size10,336 SqFtStyleMulti-Family Res (5+ Units)Year Built1955ZoningBUR3*CountyLOS ANGELESAPN2444-006-008

Schools near 115 North Myers Street

This home is within Burbank Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Public - 9 to 12
Rating
School
Distance
R. L. Stevenson Elementary School
PublicK to 5

David Starr Jordan Middle School
Public6 to 8

John Burroughs High School
Public9 to 12

Monterey High (Continuation) School
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

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115 North Myers Street is a multi-family home for sale in Burbank, CA 91506. This property was listed for sale on July 22, 2024 by Marcus & Millichap, it's currently listed at $2,350,000. This listing's school district is Burbank Unified School District. Nearby schools include R. L. Stevenson Elementary School, David Starr Jordan Middle School and John Burroughs High School. 115 North Myers Street is a 12-bed, 9-bath, 6,680 sqft multi-family home built in 1955.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Marcus & Millichap, Gregory Shindler, DRE #02083460

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.