424 E Cedar Avenue, Burbank, CA 91501

$3,475,000
Property Type: Residential Income Bedrooms: 18 Baths: 18 Square Footage: 1,918 Lot Size (sq. ft.): 7,716 Status: Closed
Current Price: $3,475,000 List Date: 1/08/2022 Last Modified: 4/23/2024

Overview

Description

Excellent investment opportunity: 10-unit apartment community located in the highly sought-after City of Burbank. Its unit mix consists of (2) one-bedroom, one-bath and (8) two-bedroom, two-bath units. Tenants enjoy the walkability and ease of access to shopping, dining, schools, parks, entertainment, public transportation, and freeways I-5 and SR-134. Carefully maintained by owner of 25 years with upgrades along the way. Recent improvements include new composition shingle roof, kitchen cabinets & appliances, hardwood floors, ceramic tile, and exterior paint. This building also features copper plumbing, newer 100+ gallon water heater, 2 parking spots per unit in gate-controlled underground parking with gated exit to alley. Exterior lighting and secured entrance to front doors provide added safety to tenants. Tenants also enjoy either a private balcony or patio, gas fireplace, central air, and attractive grounds. Coin-operated laundry machines provide additional income to owner ...

Listing Details MLS# 222000112

General Property Information

# Bedrooms
18
Baths - Full
18
Baths - Total
18
Approx SqFt
1918
Lot Acres
0.18
Lot SqFt
7716
Year Built
1986
Common Walls
Yes

Property Features

Land Lease Type: Fee Simple Special Conditions: Standard Terms: Cash; Conventional Possession: Close of Escrow Lot Description: Automatic Gate Lot Location: Alley Access Other Property Features: Balcony; Full Copper Plumbing Disclosures: Property As Is Construction: Frame & Stucco Levels: Two Entry Location: Ground Level w/Steps Appliances: Dishwasher; Garbage Disposal Laundry Equipment: Own Cooking Appliances: Oven Bathroom Features: Shower & Tub Doors: Sliding Glass Door(s) Exterior Construction: Hard Coat Stucco Foundation: Concrete Block; Concrete Perimeter; Concrete Slab; Pier Jacks; Pillar/Post/Pier Flooring: Carpet; Hardwood; Stone Tile Cooling Type: Central A/C; Electric; Gas Heating Type: Central Furnace Heating Fuel: Natural Gas Fireplace Location: Living Room Fireplace Features: Other Fireplace Fuel: Gas Laundry Locations: Community; Laundry Area Security Safety: Automatic Gates; Exterior Security Lights Windows: Vertical Blinds; Window Blinds Patio Features: Enclosed Water Heater Feature: 60+ Gallon Tank; Gas; Hot Water Circulator Green Location: Walkability Parking Type: Gated Underground Parking Features: Controlled Entrance Association Fees Include: Water Paid Landlord Pays For: Gardner; Water; Other Tenant Pays: Electricity; Gas Unit 1 Furnished: Unfurnished Unit 2 Furnished: Unfurnished Unit 3 Furnished: Unfinished Unit 4 Furnished: Unfurnished Unit 5 Furnished: Unfinished Unit 6 Furnished: Unfinished Unit 7 Furnished: Unfinished Unit 8 Furnished: Unfinished Unit 9 Furnished: Unfinished Unit 10 Furnished: Unfinished Financing: Cash

Listing Location and Property Info

Entry Date
2022-01-08
Listing Price
3800000
Street #
424
Direction
E
Street Name
Cedar
Suffix
Avenue
County
Los Angeles
State/Province
CA
Zip Code
91501
APN/Tax ID
5621024010
Area
610 - Burbank
Subdivision/Tract Code
Custom
Country
US

Listing Info

Total # of Units in Complex
10

Property Info

View
No
Alley
Yes
Paved
Yes
Dwelling Total Floors
2
# of Buildings
Yes
Pool
No
Spa
No
Fireplace
Yes
Water Heater
Yes

Status Change Info

Pending Date
2022-02-10
Closed Date
2022-02-18
Closed Price
3475000
Sold Price/SqFt
1811.78

More Information

Units Information

Number of Units Leased
8
Total Actual Rent
15320
# of Ranges
10
# Separate Electric Meters
10
# Separate Gas Meters
10

HOA 1 Information

HOA
No

Unit 1 Information

Unit-1 # of Beds
Yes
Unit-1 # of Baths
Yes
Unit-1 Monthly Rent
1500

Unit 2 Information

Unit-2 # of Beds
2
Unit-2 # of Baths
2
Unit-2 Monthly Rent
1500

Unit 3 Information

Unit-3 # of Beds
2
Unit-3 # of Baths
2
Unit-3 Monthly Rent
1500

Unit 4 Information

Unit-4 # of Beds
2
Unit-4 # of Baths
2
Unit-4 Monthly Rent
2000

Unit 5 Information

Unit-5 # of Beds
2
Unit-5 # of Baths
2
Unit-5 Monthly Rent
1400

Unit 6 Information

Unit-6 # of Beds
2
Unit-6 # of Baths
2
Unit-6 Monthly Rent
2000

Unit 7 Information

Unit-7 # of Beds
2
Unit-7 # of Baths
2
Unit-7 Monthly Rent
1500

Unit 8 Information

Unit-8 # of Beds
2
Unit-8 # of Baths
2
Unit-8 Monthly Rent
1460

Unit 9 Information

Unit-9 # of Beds
Yes
Unit-9 # of Baths
Yes
Unit-9 Monthly Rent
1060

Unit 10 Information

Unit-10 # of Beds
2
Unit-10 # of Baths
2
Unit-10 Monthly Rent
1400

Listing, Location and Property Info

Entry Date
2022-01-08
List Price/SqFt
1981.23

Land Lease Type

Fee Simple
Yes

Special Conditions

Standard
Yes

Terms

Cash
Yes
Conventional
Yes

Possession

Close of Escrow
Yes

Lot Description

Automatic Gate
Yes

Financing

Cash
Yes

Lot Location

Alley Access
Yes

Other Property Features

Balcony
Yes
Full Copper Plumbing
Yes

Disclosures

Property As Is
Yes

Laundry Locations

Community
Yes
Laundry Area
Yes

Construction

Frame & Stucco
Yes

Levels

Two
Yes

Entry Location

Ground Level w/Steps
Yes

Appliances

Dishwasher
Yes
Garbage Disposal
Yes

Laundry Equipment

Own
Yes

Cooking Appliances

Oven
Yes

Bathroom Features

Shower & Tub
Yes

Doors

Sliding Glass Door(s)
Yes

Exterior Construction

Hard Coat Stucco
Yes

Security Safety

Automatic Gates
Yes
Exterior Security Lights
Yes

Foundation

Concrete Block
Yes
Concrete Perimeter
Yes
Concrete Slab
Yes
Pier Jacks
Yes
Pillar/Post/Pier
Yes

Flooring

Carpet
Yes
Hardwood
Yes
Stone Tile
Yes

Property/Land Information

Actual Total Rent $
15320
Annual Gross Rent $
183840

Cooling Type

Central A/C
Yes
Electric
Yes
Gas
Yes

Heating Type

Central Furnace
Yes

Heating Fuel

Natural Gas
Yes

Fireplace Location

Living Room
Yes

Fireplace Features

Other
Yes

Fireplace Fuel

Gas
Yes

Windows

Vertical Blinds
Yes
Window Blinds
Yes

Patio Features

Enclosed
Yes

Water Heater Feature

60+ Gallon Tank
Yes
Gas
Yes
Hot Water Circulator
Yes

Green Location

Walkability
Yes

Parking Spaces/Information

Number of Remotes
10
Total Garage Spaces
20

Parking Type

Gated Underground
Yes

Parking Features

Controlled Entrance
Yes

Association Fees Include

Water Paid
Yes

Landlord Pays For

Gardner
Yes
Water
Yes
Other
Yes

Tenant Pays

Electricity
Yes
Gas
Yes

Unit 1 Furnished

Unfurnished
Yes

Unit 2 Furnished

Unfurnished
Yes

Unit 3 Furnished

Unfinished
Yes

Unit 4 Furnished

Unfurnished
Yes

Unit 5 Furnished

Unfinished
Yes

Unit 6 Furnished

Unfinished
Yes

Unit 7 Furnished

Unfinished
Yes

Unit 8 Furnished

Unfinished
Yes

Unit 9 Furnished

Unfinished
Yes

Unit 10 Furnished

Unfinished
Yes
Listing Office: MCD Realty Inc.
Listing Agent: Tiffany Jennings |
Last Updated: April - 23 - 2024
Based on information from the CSMAR Multiple Listing as of [date the AOR/MLS data was obtained]. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.