Prime Burbank Triplex
A charming triplex with one fully renovated unit in Burbank for an unheard of price of $950,000. Currently boasts an incredible cap rate of 4.12%, plus there is tons of upside to capture! Located in an outstanding location that is a short walk to the Chandler Bike Path and Magnolia Park, and a short drive to Downtown Burbank and the Empire Center!
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Cap Rate:
GRM:
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Highlights:
$950,000
4.12% (current)
5.04% (pro forma)
18.18 (current)
15.08 (pro forma)
1,451 sqft
3x 1b/1b
1 unit fully renovated in 2021
HUGE UPSIDE
Highly walkable location
High, wood-beamed ceilings
Newly coated roof (2020)
3 garage spaces
Sewer line replaced in 2013
Updated outside electrical
Click to View Photos
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The Neighborhood
< 10-Minute Walk
The Ugly Mug, Siri Thai Cuisine, MexCocina Cafe, the Chandler Bike Path, Coral Cafe, Bret Harte Elementary, Ralphs, CVS, The Burbank Pub, Chili John's of CA, The Nitecap, Burbank Dance Academy, Burbank Veterinary Center, Thomas Edison Elementary
< 10-Minute Drive
Empire Center, Target, Walmart, Olive Garden, Ralph Foy Park, Porto's Bakery, Warner Brothers, Disney, Nickelodeon, Verdugo Recreation Center, Burbank Town Center, Yard House, Wood Ranch, Granville, Barnes and Noble, Woodbury University, Whole Foods
< 10-Minute Uber Ride
The Burbank Studios, the NoHo Arts District, Los Angeles Zoo, Griffith Park, Universal City Walk, Universal Studios, Castaways Burbank, DeBell Golf Course, Lakeside Gold Club, Bob's Big Boy, Amazon Fresh, The Federal, Ikea, Hollywood Burbank Airport, Chick-Fil-A, Mendocino Farms
Submit your offers now!
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Impossibly rare opportunity to purchase a triplex for less than $1,000,000 in Burbank!
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Current cap rate of 4.12% and significant upside: pro forma cap rate of 5.04%.
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Significantly better price per square foot, price per unit, GRM and cap rate than the sales comps in Burbank!
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Extremely low maintenance property.
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One unit was fully updated in 2021 and quickly attracted an outstanding tenant.
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Excellent location nearby all of Burbank’s most convenient destinations.
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Walking distance to Magnolia Park and the Chandler Bike Path!
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Ownership in Burbank comes with many perks, including access to the best public schools, police force and fire department out there.
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One 2-Car Garage and One 1-Car Garage accessed from a convenient alley.
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Character wood-beamed ceilings.
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Boasts quiet tenants that all pay rent!