For Sale
$1,999,000

271 Ash Ave Burbank, CA 91502

Fourplex, high occupancy, strong NOI.

Overview

Added:
Dec 11, 2024
Days on market:
135
This exceptional Burbank multifamily investment opportunity presents a well-maintained fourplex situated on a 6,944 sq ft lot. The property comprises a 3-bedroom, 1-bathroom single-family residence with a two-car garage, and three additional 1-bedroom, 1-bathroom units, each complemented by six 10x30 garages. These garages offer significant potential for additional income, perhaps as contractor spaces, storage units, or Accessory Dwelling Units (ADUs), subject to verification with the City of Burbank. Built in 1938, this Class B property boasts a total of 2,824 square feet across two buildings and two stories. Currently operating at 100% occupancy, the property generates a Net Operating Income (NOI) of $91,708, representing a 4.59% capitalization rate. Pro-forma projections indicate a potential NOI of $110,608 and a 5.53% capitalization rate. The asking price is $1,999,000, translating to $499,750 per unit and $707.86 per square foot. Located in Burbank, CA (91502), conveniently west of the 5 freeway between Alameda and Olive, this property benefits from the Burbank school district. The property is zoned BUR4. Owner financing may be available for qualified buyers. This is a stabilized investment with significant upside potential.

Highlights

  • $1,999,000 asking price for a stabilized multifamily investment property.
  • Four-unit, Class B property with 2,824 square feet, offering a 4.59% cap rate (5.53% pro-forma).
  • 100% occupancy with a current NOI of $91,708 ($110,608 pro-forma).
  • Located in Burbank, CA at 271 W Ash Ave, on a 6,944 sq ft lot, with BUR4 zoning.
  • Consists of a 3+1 single-family residence with a 2-car garage and three 1+1 units with six 10x30 garages.
  • Built in 1938, the property features two buildings, each two stories high.

Property Details for 271 Ash Ave

Property type
Residential income homes
Square Feet
2,824 SF
Class
B
Year Built
1938
Buildings
2
Stories
2
Units
4

Location Insight

City
Burbank
County
Los Angeles
State
California
Latitude
34.168170907758
Longitude
-118.30892213325

FAQs

What type of property is this?
Residential income home - Fourplex, high occupancy, strong NOI.
Where is the residential income home located?
The property is located at 271 Ash Ave Burbank, CA.
What is the asking price?
The asking price for this property is $1,999,000.
What are key features of this property?
This property features: $1,999,000 asking price for a stabilized multifamily investment property.; Four-unit, Class B property with 2,824 square feet, offering a 4.59% cap rate (5.53% pro-forma).; 100% occupancy with a current NOI of $91,708 ($110,608 pro-forma).
How can I contact the broker?
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271 Ash Ave
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