The Escrow That Came Back Stronger: A Burbank Media District Four-Plex
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The LAAA Team of Marcus & Millichap is proud to announce the successful closing of 2907 W Riverside Drive, a four-unit apartment building in Burbank's Media District, which sold for $1,590,000.
This was the second property we sold for this ownership group in 2026, and the relationship is part of why the deal got done. The owners are winding down their Los Angeles real estate holdings, and we have been their broker through that process: we had just closed another of their buildings, a four-unit property in Van Nuys, in mid-January, and we are currently entrusted with a third. When a seller hands you their portfolio one building at a time, you do not get to coast on the easy ones, and 2907 W Riverside was not an easy one.
We brought the property to market in late January. It sits in a stable, employment-driven rental pocket of the San Fernando Valley: directly adjacent to Johnny Carson Park and a short walk from Warner Bros. Studios, in the heart of the Media District between Warner Bros. and Disney. Built in 1942 and held as two buildings totaling roughly 3,023 square feet on a 6,595 square foot lot, the property is a mix of three one-bedroom units and one two-bedroom unit, with four detached garages along the rear alley. In-place rents were running roughly 17% below market, the value-add was achievable through normal turnover and light interior work, and the major capital items that scare buyers had already been addressed: a new roof in 2021, full copper re-piping and waste-line replacement, a rebuilt exterior staircase in 2023, and a new water main in 2025.
The first round looked like a quick win. We had the property under contract within a couple of weeks of listing, opened escrow, and moved into due diligence in early February. Then it stalled. During diligence the buyer pushed to renegotiate, and when it became clear they were not willing to come up to where the deal needed to be, the escrow was canceled on February 20. That is the moment that decides a lot of listings. The easy path is to chase the buyer down on price and salvage something. Instead we advised the sellers to cancel cleanly, reset, and bring the property back on its own terms.
We relaunched in April and leaned into the actual story: a value-add building in strong physical condition in a supply-constrained Burbank submarket, with one unit delivered vacant so a buyer could see the upside on day one, and four rear-alley garages that line up for one or two ADUs under Burbank's ADU ordinance for an owner who wants to push the income further. The market answered the question the first escrow had left open. Within roughly two weeks of relaunching we had competing offers in hand and ran a multiple-counter process to the strongest one.
The LAAA Team of Marcus & Millichap is proud to announce the successful closing of 2907 W Riverside Drive, a four-unit apartment building in Burbank's Media District, which sold for $1,590,000.
This was the second property we sold for this ownership group in 2026, and the relationship is part of why the deal got done. The owners are winding down their Los Angeles real estate holdings, and we have been their broker through that process: we had just closed another of their buildings, a four-unit property in Van Nuys, in mid-January, and we are currently entrusted with a third. When a seller hands you their portfolio one building at a time, you do not get to coast on the easy ones, and 2907 W Riverside was not an easy one.
We brought the property to market in late January. It sits in a stable, employment-driven rental pocket of the San Fernando Valley: directly adjacent to Johnny Carson Park and a short walk from Warner Bros. Studios, in the heart of the Media District between Warner Bros. and Disney. Built in 1942 and held as two buildings totaling roughly 3,023 square feet on a 6,595 square foot lot, the property is a mix of three one-bedroom units and one two-bedroom unit, with four detached garages along the rear alley. In-place rents were running roughly 17% below market, the value-add was achievable through normal turnover and light interior work, and the major capital items that scare buyers had already been addressed: a new roof in 2021, full copper re-piping and waste-line replacement, a rebuilt exterior staircase in 2023, and a new water main in 2025.
The first round looked like a quick win. We had the property under contract within a couple of weeks of listing, opened escrow, and moved into due diligence in early February. Then it stalled. During diligence the buyer pushed to renegotiate, and when it became clear they were not willing to come up to where the deal needed to be, the escrow was canceled on February 20. That is the moment that decides a lot of listings. The easy path is to chase the buyer down on price and salvage something. Instead we advised the sellers to cancel cleanly, reset, and bring the property back on its own terms.
