240-260 East Providencia Avenue
Description
We are excited to present this meticulously renovated 15-unit multifamily property located in the heart of Burbank, renowned as the Media Capital of the World. This exceptional investment opportunity is situated in one of the region’s most sought-after rental markets, offering strong returns and long-term growth potential. Property Highlights:
Prime Location: Nestled on a 17,821-square-foot lot with 100 feet of street...Stunning Multifamily Investment Opportunity in Burbank : 240-260 E. Providencia
We are excited to present this meticulously renovated 15-unit multifamily property located in the heart of Burbank, renowned as the Media Capital of the World. This exceptional investment opportunity is situated in one of the region’s most sought-after rental markets, offering strong returns and long-term growth potential. Property Highlights:
Prime Location: Nestled on a 17,821-square-foot lot with 100 feet of street frontage across two parcels. Diverse Unit Mix:
(12) One-bedroom, one-bathroom units
(2) Two-bedroom, one-bathroom units
(1) Two-bedroom, two-bathroom unit
Bonus: A 153-square-foot storage room that can be converted into an office. Rentable Space: 8,202 square feet of updated, income-generating units. Attractive Financials: Enjoy an in-place 6.19% CAP rate, making this an outstanding investment for cash flow and value appreciation. This property represents the ideal combination of a renovated asset, diverse floor plans, and an exceptional location, making it a premier choice for savvy investors looking to capitalize on Burbank’s ever-growing rental demand. Don’t miss the chance to add this jewel to your portfolio!
- Listed by Steve Hovakimyan • DRE #01363908 • Brokerage DRE #01932421 • City Center Realty Group • 818-845-5551
Property Details for 240-260 East Providencia Avenue
Property Details for 240-260 East Providencia Avenue
| Status | Active |
|---|---|
| MLS # | BB24247060 |
| Days on Market | 20 |
| Taxes | - |
| HOA Fees | - |
| Condo/Co-op Fees | - |
| Compass Type | Multi Family |
| MLS Type | Residential Income / Apartment |
| Year Built | 1951 |
| County | Los Angeles County |
Building Information for 240-260 East Providencia Avenue
Property Information for 240-260 East Providencia Avenue
- Gross Income: $0
- Gross Scheduled Income: $472,200
- Net Operating Income: $3,700,290
- Operating Expense: $102,171
- New Taxes Expense: $68,971
- Gardener Expense: $2,000
- Fuel Expense: $0
- Electric Expense: $1,100
- Insurance Expense: $4,500
- Professional Management Expense: $0
- Trash Expense: $2,600
- Water Sewer Expense: $9,000
- Total Expenses: $102,171
- Tax Block: 105
- Tax Tract Number: 2453
- Tax Lot: 2830
- Assessments YN: Yes
- Assessments: Unknown
- Community Features: Sidewalks, Street Lights
- Laundry: Yes
- Laundry Features: Inside
- Fireplace Features: None
- Fireplace Rooms: None
- Cooling: Central Air
- Heating Type: Central
- Heating: Central
- Entry Location: 1
- Pool Features: None
- Pool Description: None
- Additional Parcels Description: 2453031006
- Lot Features: Lot 10000-19999 Sqft
- Number Of Units: 15
- Land Lease: No
- Land Lease Type: Fee
- Water: Public
- Sewer: Public Sewer
- Water Source: Public
- Garage Spaces: 0
- Parking Garage Spaces: 0
- Carport Spaces: 0
- Unit Type Units Total: 10
- Unit Type Beds Total: 1
- Unit Type Baths Total: 1
- Unit Type Furnished: Unfurnished
- Unit Type Garage Spaces: 0
- Unit Type Actual Rent: $2,500
- Unit Type Total Rent: $25,000
- Unit Type Pro Forma: 26000
- Unit Type Type: 1
- Unit Type Units Total: 2
- Unit Type Beds Total: 2
- Unit Type Baths Total: 1
- Unit Type Furnished: Unfurnished
- Unit Type Garage Spaces: 0
- Unit Type Actual Rent: $3,250
- Unit Type Total Rent: $6,500
- Unit Type Pro Forma: 6760
- Unit Type Type: 2
- Unit Type Units Total: 1
- Unit Type Beds Total: 2
- Unit Type Baths Total: 2
- Unit Type Furnished: Unfurnished
- Unit Type Garage Spaces: 0
- Unit Type Actual Rent: $3,250
- Unit Type Total Rent: $3,250
- Unit Type Pro Forma: 3380
- Unit Type Type: 3
- Unit Type Units Total: 2
- Unit Type Beds Total: 1
- Unit Type Baths Total: 1
- Unit Type Furnished: Unfurnished
- Unit Type Garage Spaces: 0
- Unit Type Actual Rent: $2,300
- Unit Type Total Rent: $4,600
- Unit Type Pro Forma: 4784
- Unit Type Type: 4
- Rent Controlled: No
- Number Of Buildings: 4
- Number Of Separate Electric Meters: 15
- Number Of Separate Gas Meters: 15
- Number Of Separate Water Meters: 1
- Number With Refrigerator: 15
Property History for 240-260 East Providencia Avenue
| Date | Event & Source | Price | Appreciation |
|---|
| Date | Event & Source | Price |
|---|
For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Schools near 240-260 East Providencia Avenue
Rating | School | Type | Grades | Distance |
|---|---|---|---|---|
| Public - | K to 5 | |||
| Public - | 6 to 8 | |||
| Public - | 9 to 12 | |||
| Public - | 7 to 12 |
Rating | School | Distance |
|---|---|---|
Joaquin Miller Elementary School PublicK to 5 | ||
John Muir Middle School Public6 to 8 | ||
Burbank High School Public9 to 12 | ||
Burbank Usd Community Day School Public7 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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Listing Courtesy of City Center Realty Group, Steve Hovakimyan, DRE #01363908
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.