2001 Peyton Avenue
$5,995,000
—
20
9,232
9,232
$649
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...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.
- Listed by Armin Soleimani • DRE #01846872 • Brokerage DRE #01911261 • Global Platinum Properties, Inc.
- Listed by Julio Ruiz • DRE #01911261 • Brokerage DRE #01911261 • Global Platinum Properties, Inc.
Property Details for 2001 Peyton Avenue
Zoning
BUR4*
StyleArt Deco
Parcel Number2468016004
Total Units20.0
Living Area9232
Source Living AreaVendor Enhanced
AreaBurbank (610)
Vacancy Rate3 Units
LISTING UPDATED: 09/23/2024 04:57 PM
Property Details for 2001 Peyton Avenue
Status | Active |
---|---|
MLS # | 24-436685 |
Days on Market | 67 |
Taxes | - |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family |
MLS Type | Residential Income |
Year Built | 1960 |
Lot Size | 0.44 AC / 19,166 SF |
County | Los Angeles County |
Building Information for 2001 Peyton Avenue
Stories2Residences-Year Built1960Building Size-Lot Size0.44 AC / 19,166 SF
Property Information for 2001 Peyton Avenue
Property History for 2001 Peyton Avenue
Date | Event & Source | Price | Appreciation |
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Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Schools near 2001 Peyton 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 |
---|---|---|
George Washington Elementary School PublicK to 5 | ||
Luther Burbank 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.
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