550 Verdugo AveBurbank, CA 91501

Property Details for 550 Verdugo Ave

Year built

1921

Construction

WOOD

Lot size

0.20 AC

Property size (Sq ft)

3,143 SF

Zone code

BUR4*

Property type

Residential income properties

Property subtype

Other apartment buildings

APN

2455-006-006

APU

2455006006

Description

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.

• CAP approach

  CAP return

  Valuation

  6%

  $1,270,258

  6.5%

  $1,172,546

  7%

  $1,088,792

• Comparable approach

  Method

  Valuation

  Relative Method

  $926,393

  Geo Method

  $926,393

• Alternative Use

  Use

  Valuation

  Residential

  $1,172,546

  Hospitality

  $1,074,046

  Educational

  $893,593

  Medical

  $924,325

  Retail

  $1,390,034

Location Insight

City

Burbank

County

Los Angeles

State

California

Latitude

34.1828

Longitude

-118.301

CBSA code

31080

CBSA name

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

Property Tax & Assessments

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