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$ 2,599,000
Est. payment /mo
Active
1700 Grismer Avenue Burbank, CA 91504
4 Beds
4 Baths
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID BB25062782
Bedrooms 4
Property Sub-Type Res Income 2-4 Units
Property Description
Just reduced! Owner will carry the 1st trust deed with 40% down for 4 years. First year to be 5%, second year to be 6%, third year to be 7% and the fourth year to be 8%. Perfect opportunity to obtain this investment and have lower interest rates for the first years to make improvements or additions. This is an incredible value-add opportunity situated in a highly desirable area of Burbank. Boasting a generous 10,603 sq. ft. lot, this property offers significant development potentialpossibility to build up to 10 units, subject to verification and approval by the City of Burbank. Buyers are encouraged to conduct their own due diligence with the city to explore the full scope of development options. Currently, the property features six well-maintained residential units, thoughtfully distributed across three separate garden-style buildings. The unit mix includes: Three (3) units with 1 bedroom and 1 bathroom, and Three (3) units with 2 bedrooms and 1 bathroom. Each unit offers a comfortable and functional living space, and five out of six units are equipped with central heating and air conditioning for year-round comfort. The interiors have been meticulously maintained, reflecting pride of ownership, and several long-term tenants add stability to this income-producing asset. Parking accommodations include a 4-car carport and three uncovered parking spaces, offering a total of 7 on-site parking spots. A coin-operated laundry area, conveniently located within one of the carports, provides additional income potential and convenience for tenants. Notably, the last two units were or
Location
State CA
County Los Angeles
Zoning Assessor
Direction North of San Fernando Rd. South of Glenoaks
Interior
Cooling Central Forced Air
Fireplace No
Exterior
View Y/N No
Roof Type Composition
Building
Story 1
Level or Stories 1
Others
Tax ID 2468007030
Listed by Joyce Starleaf Equity Union
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