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$5,300,000
Est. payment /mo
9,906 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 9,906 sqft
Price per Sqft $535
MLS Listing ID CL24460053
HOA Y/N No
Year Built 1961
Lot Size 10,112 Sqft
Acres 0.23
Property Sub-Type Other
Property Description
The building is exempt from Los Angeles Rent Control and therefore an investor can benefit from higher allowable annual rent increases through AB 1482. Only two units have been given rent increases within the past year, potentially allowing a new owner to improve the property's cashflow almost immediately (Buyer to verify). Situated within a mile of both the Burbank Town Center and the Empire Center, this property grants tenants convenient access to numerous major national retailers and an extensive slate of entertainment and dining options. Stores such as Costco, Target, Walmart, Nordstrom Rack, Macy's, Cost Plus World Market, and Best Buy provide local residents a wide array of local shopping choices. Dubbed the "Media Capital of the World," the city of Burbank is home to a vast contingent of entertainment employers, which allows tenants convenient commutes to studios. Notable media production campuses in and around Burbank include Disney Studios, Walt Disney Imagineering, Warner Bros. Studios, Universal Studios, Nickelodeon Studios, Cartoon Network, and Dreamworks Animation.
Location
State CA
County Los Angeles
Zoning BUR4
Interior
Fireplace No
Building
New Construction No
Others
Tax ID 2468005023
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Listed by Roderick 'Rick' Raymundo • Marcus & Millichap