The LAAA Team of Marcus & Millichap is pleased to present this 5 unit multifamily property located at 157 West Ash Avenue in Burbank, CA. This property, built in 1988, is not subject to any local rent control laws. It is only restricted by California's AB-1482, which limits annual rent increases to 5% + CPI.

This 4,564 square foot building sits on a 6,274 square foot lot (0.14 acres), and it boasts an excellent unit mix of (2) 1 Bed / 1 Bath units and (3) 2 Bed / 1.5 Bath units. 3 of the 5 units have been fully renovated in the past few years, and the buyer will still be able to achieve an estimated 20% upside in rents without the worry of much deferred maintenance.

The property offers its tenants 9 parking spots, one for every bedroom, which means the 2 bedroom units get 2 parking spots and the 1 bedroom units get 1 spot. Also, the property has onsite laundry which brings in an estimated $100 per month in additional income.

The property is very well maintained with no known significant deferred maintenance issues. Furthermore, this property does not need any seismic retrofitting, saving the buyer a large expense.

Location Overview
The city of Burbank, known as the “Media Capital of the World,” is located in the eastern part of the San Fernando Valley, approximately 12 miles from Downtown Los Angeles. The 5 Freeway runs through the city, which also connects nearby to the 101, 134, 170 and 210 Freeways, providing convenient access to nearly all of Los Angeles. Burbank stretches just below the slopes of Verdugo Hills, and it’s mostly a flatland area, bounded by the Hollywood Hills to the south. The City has its own airport, named after comedian Bob Hope, that offers flights to most major US cities. It is home to major entertainment companies such as the Walt Disney Company, The Burbank Studio, Warner Bros Studios, ABC Studios, Marvel Studios, Nickelodeon’s, Cartoon Network, iHeartMedia Inc., and Insomniac Games, making the city a major hub of employment in these industries. Burbank is the second largest office space market in the San Fernando Valley, and much of the space is utilized by the entertainment industry, which has among the highest office lease rates in the region. A large portion of the city’s economy is based on the entertainment industry, and many of the companies have headquarters or facilities in Burbank.