1814 Grismer Avenue

Burbank, CA 91504

$5,500,000
Price
14
Beds
16
Baths
9,906 Sq. Ft.
$555 / Sq. Ft.
9,906
Sq. Ft.
$555
per Sq. Ft.

Description

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...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.
  1. Listed by Roderick 'Rick' Raymundo • DRE #01357019 • Brokerage DRE #01238010 • Marcus & Millichap

Property Details for 1814 Grismer Avenue

Zoning
BUR4*
Parcel Number
2468005023
Total Units
14.0
Living Area
9906
Source Living Area
Vendor Enhanced
Area
Burbank (610)
Vacancy Rate
0
Lot Size Area
10112
LISTING UPDATED: 11/12/2024 12:01 AM

Property Details for 1814 Grismer Avenue

StatusActive
MLS #24-460053
Days on Market47
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1961
Lot Size0.23 AC / 10,112 SF
CountyLos Angeles County

Building Information for 1814 Grismer Avenue

Stories2Residences-Year Built1961Building Size-Lot Size0.23 AC / 10,112 SF

Property Information for 1814 Grismer Avenue

Community / Development
Community / Development
  • Number Of Units: 14
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 2
  • Number Of Buildings: 1
  • Type Of Units: Residential
Contract Info
Contract Info
  • Disclosures: As Is
  • Listing Type: Exclusive Right To Sell
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $355,871
  • Net Operating Income: $236,824.00
  • Gross Income: $364,440
  • Gross Rent Multiplier: $14.99
  • Total Annual Expense: 119047
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.2322
  • Lot Size Square Feet: 10112
Parking Details
Parking Details
  • Parking Garage: Assigned
  • Total Parking: 0
  • Parking Features: Assigned
Interior Features
Interior Features
  • Levels: Two
  • Cooling Type: Other
  • Heating Type: Other
  • Equipment: Other
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 11-04-2024
Unit Details
Unit 1 Information
  • Unit Beds: 0
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,775.00
  • Unit Actual Rent: $3,550.00
  • Unit Projected Rent: $3,990.00
  • Like Units: 2
Unit 2 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,140.00
  • Unit Actual Rent: $21,400.00
  • Unit Projected Rent: $25,950.00
  • Like Units: 10
Unit 3 Information
  • Unit Beds: 2
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $2,710.00
  • Unit Actual Rent: $5,420.00
  • Unit Projected Rent: $5,790.00
  • Like Units: 2
Unit Details
  • Unit Type Type: 2106, 2107, 2108
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $2,454,140.00
  • Assessed Improvement Percent: 60.11
  • Assessed Land Value: $1,628,656.00
  • Assessed Land Percent: 39.89
  • Assessed Total Value: $4,082,796.00

Property History for 1814 Grismer Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Public Records for 1814 Grismer Avenue

Taxable ValueLand$1,661,229Additions$2,503,222Total$4,164,451
Tax Record2024$47,356 ($3,946 / month)
Home Facts
Total Finished SqFt9,906 SqFtAbove Grade Finished SqFt9,906 SqFtLot Size10,113 SqFtStyleMulti-Family Res (5+ Units)Year Built1961ZoningBUR4*CountyLOS ANGELESAPN2468-005-023

Schools near 1814 Grismer Avenue

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 - 6 to 12
Rating
School
Distance
Thomas Jefferson Elementary School
PublicK to 5

John Muir Middle School
Public6 to 8

Burbank High School
Public9 to 12

Magnolia Park School
Public6 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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1814 Grismer Avenue is a multi-family home for sale in Burbank, CA 91504. This property was listed for sale on November 4, 2024 by Marcus & Millichap, it's currently listed at $5,500,000. It has been on the market for a total of 47 days and was last sold on April 13, 2017. This listing's school district is Burbank Unified School District. Nearby schools include Thomas Jefferson Elementary School, John Muir Middle School and Burbank High School. 1814 Grismer Avenue is a 14-bed, 16-bath, 9,906 sqft multi-family home built in 1961.

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, Roderick 'Rick' Raymundo, DRE #01357019

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.