For Sale
$1,795,000

550 Verdugo AveBurbank, CA 91501

Five-unit apartment building, excellent ROI.

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional five-unit apartment building, located at 550 E Verdugo Ave in Burbank, California (91501), presents a compelling investment opportunity. The property, situated on a beautiful tree-lined street north of Glen Oaks and conveniently close to studios and downtown Burbank, boasts a total of 3,143 square feet of net rentable space across three buildings. Constructed in 1921 and extensively renovated between 2016 and 2022, this two-story complex offers a blend of historical charm and modern updates. Each of the five units has undergone a complete renovation, featuring new laminate flooring, modern appliances, air conditioning, fresh paint, and other desirable upgrades. Currently, all units are occupied by excellent tenants, generating a strong net operating income (NOI) of $98,000, resulting in a 5.46% cap rate. The asking price is $1,795,000, translating to $359,000 per unit and $571.11 per square foot. This property offers a rare combination of location, renovated units, strong occupancy, and a solid financial performance, making it an ideal addition to any investment portfolio. Los Angeles County location provides easy access to major freeways and amenities.

Highlights

  • $1,795,000 asking price for a 5-unit apartment building in Burbank, CA.
  • 5-unit multifamily property with a 5.46% cap rate and $98,000 NOI.
  • 3,143 square feet, priced at $571.11 per square foot.
  • Extensive renovations completed between 2016 and 2022.
  • Located at 550 E Verdugo Ave, Burbank, CA 91501, near studios and downtown.

Property Details for 550 Verdugo Ave

Property type
Apartment buildings
Square Feet
3,143 SF
Year Built/Renovated
1921/2016
Buildings
3
Stories
2
Units
5

Location Insight

City
Burbank
County
Los Angeles
State
California
Latitude
34.18301391
Longitude
-118.30115542
550 Verdugo Ave, Burbank, California

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550 Verdugo Ave
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