Active
231 E Burbank BLVD
BURBANK CA, 91502
$5,150,000
$486.03 per sqft
Active
8 Beds
10,596 sqft
Condo
Built in 2006
We are pleased to present for the very 1st time ever, the Burbank Terrace Condos. Being offered by the original developer and owner since its inception in 2006, the property can widely be considered one of the nicest assets to be built within the city. Initially developed as condominiums, the level of construction and attention to detail is of high caliber. There is currently a $1.995M assumable loan at 3.45% This unique opportunity to obtain capital at over 50% discount from the going interest rates will significantly improve cash flow and shelter against rising inflation. For additional cashflow stream, a utility billback system can easily be incorporated as well. Boasting massive unit mixes and modern luxuries such as in-unit washer dryers, fireplaces, wet bars, gated subterranean parking, intercom controlled access, and priceless views of the Verdugo Mountains, the Terraces are With a WalkScore of 92, a "Walker's Paradise" tenant are within reach of all major shops, dining, and service options within the city. Across the street from the largest and most touted Burbank High School, vacancy has been and will continue to be historically nonexistent. As Burbank tenants and landlords alike wait patiently, the proposed old lkea site development which will be only steps away from the subject property is said to be a game changer and transformative almost to the likes of Americana and Glendale. This once-in-a-lifetime acquisition opportunity allows for multiple investment strategies. The asset is essentially rent control proof since the units are individually parceled for a potential condo sell-out exit strategy. Offering memorandum available upon request.
SR24054071MR
MLSⓇ ID
March 18, 2024
Listed
April 5, 2024
Updated
Map
231 E Burbank BLVD
BURBANK CA, 91502
Interior Features
Total Stories
3
Bedrooms
8
Laundry Description
Inside, Washer Hookup
Fireplace
No
Cooling
No
Heating
No
Exterior/Building Features
Lot Size
0.19 Acres
Sewer
Private Sewer
Other Property Details
Area Name
Burbank
Days on Market
8
Garage
No
Parking Total
0
View
No
County
Los Angeles
Water Source
Private
Pool
No
Pool Features
None
Zoning
BUR4*
Listed by Levon Alexanian with Keller Williams World Media Center
Listing Contact: 8182391206
Based on information from The MLSTM / Combined LA/Westside Multiple Listing Service, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use, it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information is deemed reliable but not guaranteed and should be independently reviewed and verified. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. All properties are subject to prior sale, change or withdrawal, and may or may not be listed by the office/agent presenting the information. Neither listing broker(s) nor Ken Sisson shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.
©2024 Combined L.A./Westside MLS. All rights reserved.
Data last updated 4/5/2024