2319 Magnolia BlvdBurbank, CA 91506

Property Details for 2319 Magnolia Blvd

Year built

1959

Construction

TILT-UP CONCRETE

Lot size

0.06 AC

Property size (Sq ft)

2,111 SF

Zone code

BUC3YY

Property type

Office buildings

APN

2448-030-021

APU

2448030021

Description

This exceptional mixed-use property, located at 2319 W Magnolia Blvd in Burbank, CA 91506, offers a unique owner-user opportunity. The 2,111 square foot building, constructed in 1959, sits on a 2,625 square foot lot and features two units: a ground-floor commercial storefront and a second-floor residential/office space. The commercial space is vacant and boasts an open floor plan, two ADA-compliant bathrooms, and ample storage. The upper unit includes a full kitchen, bathroom, outdoor patio, and balcony overlooking Magnolia Boulevard. The property also includes a secure rear parking lot with four tandem parking spaces and additional outdoor storage. This prime Burbank location offers excellent visibility on Magnolia Boulevard, with prominent signage opportunities. Its convenient location near Downtown Burbank, Magnolia Park, and the I-5 Freeway provides easy access to major transportation routes. The area boasts a significant population within a five-mile radius and high daily traffic volume on Magnolia Boulevard. This property is zoned BUC3YY. The absence of city income tax and gross receipts tax presents a significant financial advantage. SBA financing is available with as little as 15% down payment. Note: Buyers are responsible for verifying all tax benefits and permitted uses with the City of Burbank and conducting their own due diligence.

• CAP approach

  CAP return

  Valuation

  6%

  $688,041

  6.5%

  $635,114

  7%

  $589,749

• Comparable approach

  Method

  Valuation

  Relative Method

  $401,428

  Geo Method

  $401,428

• Alternative Use

  Use

  Valuation

  Residential

  $787,542

  Hospitality

  $721,384

  Educational

  $600,183

  Medical

  $620,824

  Retail

  $933,618

Location Insight

City

Burbank

County

Los Angeles

State

California

Latitude

34.1726

Longitude

-118.334

CBSA code

31080

CBSA name

LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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