240 East Providencia Avenue
Closed 8/18/22
Closed 8/18/22
Description
units plus 2 non-permitted units. It consists of 2 different APNs. The property consists of two buildings, which were both constructed in 1951. Its unit mix consists of (12) one-bedroom, one-bathroom units, (1) two-bedroom unit, and (2) non-conforming units that can be legalized or turned into
accessory dwelling units. The property sits on two separate assessor parcel numbers for a combined total of 17,821...We are proud to represent this pride of ownership 15 unit property located in Burbank. It is 13
units plus 2 non-permitted units. It consists of 2 different APNs. The property consists of two buildings, which were both constructed in 1951. Its unit mix consists of (12) one-bedroom, one-bathroom units, (1) two-bedroom unit, and (2) non-conforming units that can be legalized or turned into
accessory dwelling units. The property sits on two separate assessor parcel numbers for a combined total of 17,821
square foot lot with 100 feet of frontage; it has 8,202 rentable square feet. The property has tremendous upside in rents, earning nearly a 6 CAP on market rents. The property features new
paint, pitched roof, and 100 feet of frontage. The property is located in Burbank, which is a highly desirable rental market and is known as the media capital of
the world. It is home to Disney Studios, Warner Brothers, and NBC. The city has over 80 restaurants, 30 movie screens,
and 200 stores; its residents enjoy top ranked schools, easy access to the 5 and 134 freeways, and close proximity to
the Burbank Metro Link. The property is separately metered for gas and electricity.
- Listed by Cindy Hill • DRE #00885625 • Brokerage DRE #01811831 • Equity Union
Property Details for 240 East Providencia Avenue
Property Details for 240 East Providencia Avenue
| Status | Closed |
|---|---|
| MLS # | SR22144286 |
| Days on Market | 10 |
| Taxes | - |
| HOA Fees | - |
| Condo/Co-op Fees | - |
| Compass Type | Multi Family |
| MLS Type | Residential Income |
| Year Built | 1951 |
| Lot Size | 0.21 AC / 9,038 SF |
| County | Los Angeles County |
Building Information for 240 East Providencia Avenue
Property Information for 240 East Providencia Avenue
- Gross Income: $223,680
- Gross Scheduled Income: $223,680
- Net Operating Income: $126,934
- Financing: Cash
- Operating Expense: $90,035
- Fuel Expense: $624
- Electric Expense: $0
- Insurance Expense: $3,251
- Professional Management Expense: $11,760
- Trash Expense: $0
- Water Sewer Expense: $6,902
- Total Expenses: $90,035
- Tax Block: 105
- Tax Tract Number: 310...
- Tax Census Tract: 3107.03
- Tax Lot: 30
- Community Features: Suburban, Urban, Valley
- Laundry: Yes
- Laundry Features: Community
- Pool Features: None
- Pool Description: None
- Additional Parcels Description: 2453-031-006
- Lot Features: Lot 10000-19999 Sqft
- Number Of Units: 15
- Land Lease: No
- Land Lease Type: Fee
- Levels: Two
- Water: Public
- Sewer: Public Sewer
- Water Source: Public
- Garage Spaces: 0
- Parking Garage Spaces: 0
- Carport Spaces: 0
- Unit Type Units Total: 13
- Unit Type Beds Total: 1
- Unit Type Baths Total: 1
- Unit Type Furnished: Unfurnished
- Unit Type Garage Spaces: 0
- Unit Type Garage Attached: No
- Unit Type Actual Rent: $1,253
- Unit Type Total Rent: $16,295
- Unit Type Pro Forma: 24700
- Unit Type Type: 1
- Unit Type Units Total: 1
- Unit Type Beds Total: 2
- Unit Type Baths Total: 1
- Unit Type Furnished: Unfurnished
- Unit Type Garage Spaces: 0
- Unit Type Garage Attached: No
- Unit Type Actual Rent: $1,895
- Unit Type Total Rent: $1,895
- Unit Type Pro Forma: 2500
- Unit Type Type: 2
- Unit Type Units Total: 1
- Unit Type Beds Total: 0
- Unit Type Baths Total: 1
- Unit Type Furnished: Unfurnished
- Unit Type Garage Spaces: 0
- Unit Type Garage Attached: No
- Unit Type Actual Rent: $450
- Unit Type Total Rent: $450
- Unit Type Pro Forma: 450
- Unit Type Type: 3
- Rent Controlled: No
- Number Of Buildings: 3
- Number Of Separate Electric Meters: 15
- Number Of Separate Gas Meters: 15
- Number Of Separate Water Meters: 15
Property History for 240 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.
Public Records for 240 East Providencia Avenue
Schools near 240 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 Equity Union, Cindy Hill, DRE #00885625
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.