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 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.
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