536 East Cypress Avenue

Burbank, CA 91501

$5,298,000
Price
26
Beds
26
Baths
15,012 Sq. Ft.
$353 / Sq. Ft.
15,012
Sq. Ft.
$353
per Sq. Ft.

Description

First time on the market in over 27 years, a premier investment opportunity for 13 units in prime Burbank. Constructed in 1986, this well built and well-maintained apartment property is located within one block of N. Glenoaks Blvd. Thirteen 2 Bedroom + 2 bath units were designed with more square footage and larger room sizes than typical apartments of that era. Over the last four years, 4 units have been fully updated including new cabinets, Quartz countertops, vinyl plank flooring and updated bathrooms....First time on the market in over 27 years, a premier investment opportunity for 13 units in prime Burbank. Constructed in 1986, this well built and well-maintained apartment property is located within one block of N. Glenoaks Blvd. Thirteen 2 Bedroom + 2 bath units were designed with more square footage and larger room sizes than typical apartments of that era. Over the last four years, 4 units have been fully updated including new cabinets, Quartz countertops, vinyl plank flooring and updated bathrooms. Other features such as a secure intercom entry, central heat and AC in all units, gated parking (26 SIDE BY SIDE SPACES), pitched comp shingle roofs, individual water heaters and parking access elevator make this an excellent rental property investment. In 2019 the windows and sliding doors were replaced, in 2020 building exterior was fully repainted and in 2024 the balconies were inspected in accordance with SB721. There is an on-site laundry room with machines owned by sellers, and the building is separated metered for gas and electricity. Located in a highly desirable Burbank neighborhood, this property is within walking distance of the vibrant downtown Burbank and Town Center, providing residents with easy access to shopping, diverse dining options, and dynamic entertainment venues. The property's proximity to major employers, such as Walt Disney Studios, Warner Brothers Studios, and DreamWorks Animation, further contributes to the appeal of its location. With limited property sales in this area, don't miss this chance to acquire a top-quality building in a prime location that will serve as a generational investment. Property is subject to AB1482 Rent Control. Please do not disturb tenants. Inspection upon accepted offer.
  1. Listed by Alexander Metaxas • DRE #01784652 • Brokerage DRE #01438644 • Realty Investment Advisors, Inc.

Property Details for 536 East Cypress Avenue

Zoning
BUR4*
Parcel Number
2455038011
Total Units
13.0
Living Area
15012
Source Living Area
Assessor
Area
Burbank (610)
Vacancy Rate
1
Lot Size Area
9890
LISTING UPDATED: 10/01/2024 12:01 AM

Property Details for 536 East Cypress Avenue

StatusActive
MLS #24-440913
Days on Market60
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1986
Lot Size0.23 AC / 9,890 SF
CountyLos Angeles County

Building Information for 536 East Cypress Avenue

Stories3Residences-Year Built1986Building Size-Lot Size0.23 AC / 9,890 SF

Property Information for 536 East Cypress Avenue

Community / Development
Community / Development
  • Number Of Units: 13
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Assessor
  • Number Of Stories: 3
  • Number Of Buildings: 1
  • Type Of Units: 2+2
  • Water Heaters: Yes
Contract Info
Contract Info
  • Financing: Cash, Cash To New Loan
  • Disclosures: None
  • Listing Type: Exclusive Right To Sell
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $318,761
  • Net Operating Income: $208,887.00
  • Gross Income: $328,620
  • Cap Rate: 4.05%
  • Gross Rent Multiplier: $16.09
  • Owner Pays: Water, Gardener
  • Total Annual Expense: 109875
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.227
  • Lot Size Square Feet: 9890
Parking Details
Parking Details
  • Parking Garage: Community Garage, Controlled Entrance, Gated
  • Total Parking: 26
  • Parking Features: Community Structure, Controlled Entrance, Gated
Interior Features
Interior Features
  • Levels: Three Or More
  • Cooling: Central Air
  • Cooling Type: Central
  • Heating: Central
  • Heating Type: Central
  • Equipment: Range/Oven, Garbage Disposal, Dishwasher, Microwave
  • Laundry: Community, Room
  • Laundry Equipment: Own
Exterior Features
Exterior Features
  • Pool: No
  • Private Pool: No
  • Pool Description: None
  • Pool Features: None
  • Roof: Composition, Shingle
  • Windows: Double Pane Windows
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 09-23-2024
  • Rent Control: Yes
  • Rent Control: 100
  • Tenant Pays: Electricity, Gas
Unit Details
Unit 1 Information
  • Unit Beds: 2
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $2,095.00
  • Unit Actual Rent: $27,235.00
  • Unit Projected Rent: $32,435.00
  • Like Units: 13
Unit Details
  • Unit Type Type: 2106
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $1,354,059.00
  • Assessed Improvement Percent: 80.0
  • Assessed Land Value: $338,505.00
  • Assessed Land Percent: 20
  • Assessed Total Value: $1,692,564.00

Property History for 536 East Cypress 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 536 East Cypress Avenue

Taxable ValueLand$345,275Additions$1,381,140Total$1,726,415
Tax Record2024$20,654 ($1,721 / month)
Home Facts
Total Finished SqFt15,012 SqFtAbove Grade Finished SqFt15,012 SqFtLot Size9,862 SqFtStyleMulti-Family Res (5+ Units)Year Built1986ZoningBUR4*CountyLOS ANGELESAPN2455-038-011

Schools near 536 East Cypress 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 - 7 to 12
Rating
School
Distance
Ralph Emerson 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.

Similar Homes

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536 East Cypress Avenue is a multi-family home for sale in Burbank, CA 91501. This property was listed for sale on September 23, 2024 by Realty Investment Advisors, Inc., it's currently listed at $5,298,000. This listing's school district is Burbank Unified School District. Nearby schools include Ralph Emerson Elementary School, John Muir Middle School and Burbank High School. 536 East Cypress Avenue is a 26-bed, 26-bath, 15,012 sqft multi-family home built in 1986.

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 Realty Investment Advisors, Inc., Alexander Metaxas, DRE #01784652

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.