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Jenarda Makupson

jenarda@kingdomkeysrealty.net +1(818) 200-5538

$ 5,350,000

Est. payment | -/mo

28 Beds

28 Baths

11,334 SqFt

Save

$ 5,350,000

Est. payment | -/mo

Save

28 Beds

28 Baths

11,334 SqFt

Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Square Footage 11,334 sqft

Price per Sqft $472

MLS Listing ID 26852909

Bedrooms 28

HOA Y/N No

Year Built 1987

Lot Size 0.263 Acres

Property Description

We are pleased to present the investment opportunity at 2001-2005 Grismer Avenue in Burbank, California. This 14-unit apartment community is situated in the established North Burbank residential corridor, one of the most consistently performing multifamily submarkets in the San Fernando Valley. The offering represents an opportunity to acquire a uniformly configured, below-market asset in a city that operates independently from the City of Los Angeles, with a meaningfully different regulatory environment and a strong long-term rental demand profile driven by proximity to the Burbank Media District, the studios, and the broader employment base that anchors the area. The subject property is a two-story, 14-unit apartment building constructed in 1987 and situated on an 11,325 SF lot. The building totals 11,334 square feet of rentable area and is zoned BUR4. The unit mix is entirely composed of two-bedroom/two-bathroom units, providing operational consistency and a single-profile leasing strategy across the entire asset. Residents benefit from on-site laundry service provided through a contract with All V alley Washer Service, generating approximately $2,948 annually in supplemental income. The building's uniform layout and standard two-bedroom configuration appeal to the core renter demographic in this corridor: working professionals, dual-income households, and long-term tenants drawn to Burbank's livability, school quality, and commuter access. The asset is individually addressed as both 2001 and 2005 Grismer Avenue and sits on a quiet residential street within walking distance of retail and services along N Glenoaks Blvd. 2001-2005 Grismer Avenue is positioned within the 91504-zip code, one of Burbank's most active multifamily leasing zones. Burbank is an independent city with its own municipal services and zoning authority, sitting just outside the City of Los Angeles and governed by California AB 1482 rather than the LA city RSO. The current in-place rent average of $2,203 per unit sits approximately $556 below the market rate for comparable two bedroom product in the immediate area, with all 14 units presenting measurable upside. At full market occupancy, annual gross scheduled rent reaches $462,000, representing $93,473 in additional gross income over the current roll. Burbank's location within easy commuting distance of the entertainment industry, healthcare, and professional service employment centers throughout Los Angeles County supports durable renter demand and limited lease-up risk for an incoming owner.

Location

State CA

County Los Angeles

Area 610 - Burbank

Zoning BUR4*

Interior

Interior Features Ceiling Fan(s)

Heating Central

Cooling Central Air

Fireplace No

Appliance Dishwasher, Microwave

Exterior

Parking Features Covered

Building

Story 2

Entry Level Two

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 2468015084

Special Listing Condition Standard

CRMLS Full IDX Feed (MAIN Website Search)

Listed by Filip Niculete Marcus & Millichap #01905352

Nearby Locations

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(818) 200-5538

jenarda@kingdomkeysrealty.net

303 North Glenoaks Boulevard #255, Burbank, CA 91501, USA

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2005 Grismer AVE Burbank, CA 91504