536 E Cypress Ave, Burbank, CA 91501 – 24-440913

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$5,298,000

Est. payment - /mo

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26 BD

26 BA

15,012 SqFt

Pending

536 E Cypress Ave Burbank, CA 91501

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Norma Mardelli

norma@mardellirealestate.com +1(818) 400-3794

UPDATED:

12/10/2024 09:24 PM

Key Details

Property Type Multi-Family

Sub Type Multi-Family

Listing Status Pending

Purchase Type For Sale

Square Footage 15,012 sqft

Price per Sqft $352

MLS Listing ID 24-440913

Bedrooms 26

Year Built 1986

Lot Size 9,890 Sqft

Acres 0.227

Property Description

First time on the market in over 27 years, a premier investment opportunity for 13 units in prime Burbank. Constructed in 1986, this well built and well-maintained apartment property is located within one block of N. Glenoaks Blvd. Thirteen 2 Bedroom + 2 bath units were designed with more square footage and larger room sizes than typical apartments of that era. Over the last four years, 4 units have been fully updated including new cabinets, Quartz countertops, vinyl plank flooring and updated bathrooms. Other features such as a secure intercom entry, central heat and AC in all units, gated parking (26 SIDE BY SIDE SPACES), pitched comp shingle roofs, individual water heaters and parking access elevator make this an excellent rental property investment. In 2019 the windows and sliding doors were replaced, in 2020 building exterior was fully repainted and in 2024 the balconies were inspected in accordance with SB721. There is an on-site laundry room with machines owned by sellers, and the building is separated metered for gas and electricity. Located in a highly desirable Burbank neighborhood, this property is within walking distance of the vibrant downtown Burbank and Town Center, providing residents with easy access to shopping, diverse dining options, and dynamic entertainment venues. The property's proximity to major employers, such as Walt Disney Studios, Warner Brothers Studios, and DreamWorks Animation, further contributes to the appeal of its location. With limited property sales in this area, don't miss this chance to acquire a top-quality building in a prime location that will serve as a generational investment. Property is subject to AB1482 Rent Control. PLEASE DO NOT DISTURB TENANTS. INSPECTION UPON ACCEPTED OFFER.

Location

State CA

County Los Angeles

Area Burbank

Zoning BUR4*

Rooms

Other Rooms None

Interior

Heating Central

Cooling Central

Equipment Range/Oven, Garbage Disposal, Dishwasher, Microwave

Laundry Community, Room

Exterior

Parking Features Community Garage, Controlled Entrance, Gated

Garage Spaces 26.0

Pool None

Roof Type Composition, Shingle

Building

Story 3

Level or Stories Three Or More

Others

Special Listing Condition Standard

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The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified.

Listed by Realty Investment Advisors, Inc.