What are Burbank apartment buildings selling for?
From 09/2025 to 09/2026, 30 Burbank apartment sales by other brokers or owners, which we track as comparables, traded at $200,000 to $587,500 per unit, a median of $340,313. For the 22 with enough income data, our estimated cap rates at the sale price ran from 2.71% to 6.75%, a median of 5.17% (outside sales, according to our comparables file, as of 10/28/2026).
The 30 were buildings of 4 to 24 units, 237 units and $80.3M in all, and 22 of them closed in 2026. Every one was built in 1990 or earlier, so all are old enough for AB 1482's rent cap, and none is under the City of Los Angeles's rent law or Measure ULA, because Burbank is its own city. Our guide to Burbank or Los Angeles explains what that line is worth.
Which 30 Burbank sales are in the table?
| Sale date | Address | Units | Price | Price per unit | Estimated cap rate | Source |
|---|---|---|---|---|---|---|
| 09/30/2025 | 812 N Glenoaks Blvd | 6 | $1,300,000 | $216,667 | 4.75% | Outside sale (source: our comparables file) |
| 10/15/2025 | 606 N 6th St | 8 | $2,120,000 | $265,000 | 5.89% | Outside sale (source: our comparables file) |
| 10/24/2025 | 3311 W Alameda Ave | 8 | $2,659,000 | $332,375 | 5.20% | Outside sale (source: our comparables file) |
| 11/04/2025 | 924 W Clark Ave | 4 | $1,650,000 | $412,500 | 3.26% | Outside sale (source: our comparables file) |
| 11/14/2025 | 2344 N Niagara St | 4 | $1,327,000 | $331,750 | 2.71% | Outside sale (source: our comparables file) |
| 11/18/2025 | 1520 N Hollywood Way | 4 | $1,540,000 | $385,000 | None | Outside sale (source: our comparables file) |
| 11/26/2025 | 380 W Alameda Ave | 16 | $5,450,000 | $340,625 | None | Outside sale (source: our comparables file) |
| 12/31/2025 | 1799 N Hollywood Way | 13 | $3,450,000 | $265,385 | 6.26% | Outside sale (source: our comparables file) |
| 01/07/2026 | 215 N Cordova St | 8 | $4,039,000 | $504,875 | 4.66% | Outside sale (source: our comparables file) |
| 01/12/2026 | 525 E Elmwood Ave | 24 | $8,820,000 | $367,500 | 5.89% | Outside sale (source: our comparables file) |
| 01/21/2026 | 603 N Kenneth Rd | 5 | $1,989,500 | $397,900 | 4.88% | Outside sale (source: our comparables file) |
| 01/23/2026 | 1105 W Clark Ave | 4 | $1,535,000 | $383,750 | 3.95% | Outside sale (source: our comparables file) |
| 01/27/2026 | 233-237 N Hollywood Way (two parcels) | 14 | $3,705,000 | $264,643 | 5.95% | Outside sale (source: our comparables file) |
| 02/18/2026 | 487 E Providencia Ave | 4 | $1,530,000 | $382,500 | None | Outside sale (source: our comparables file) |
| 02/24/2026 | 1721 Scott Rd | 10 | $2,783,000 | $278,300 | None | Outside sale (source: our comparables file) |
| 02/25/2026 | 1601 W Alameda Ave | 8 | $3,100,000 | $387,500 | 4.79% | Outside sale (source: our comparables file) |
| 02/27/2026 | 1608 Grismer Ave | 8 | $2,400,000 | $300,000 | 6.75% | Outside sale (source: our comparables file) |
| 02/27/2026 | 638 E Tujunga Ave | 8 | $4,700,000 | $587,500 | 5.41% | Outside sale (source: our comparables file) |
| 03/11/2026 | 240-260 E Providencia Ave | 15 | $4,950,000 | $330,000 | 6.71% | Outside sale (source: our comparables file) |
| 05/05/2026 | 618 N Mariposa St | 4 | $1,360,000 | $340,000 | None | Outside sale (source: our comparables file) |
| 05/08/2026 | 4101 W National | 4 | $1,560,000 | $390,000 | 5.13% | Outside sale (source: our comparables file) |
| 05/12/2026 | 615 E Magnolia Blvd | 11 | $3,000,000 | $272,727 | 6.66% | Outside sale (source: our comparables file) |
| 05/28/2026 | 136 N Pass Ave | 5 | $1,610,000 | $322,000 | 5.23% | Outside sale (source: our comparables file) |
| 06/17/2026 | 3650 W Clark Ave | 5 | $2,090,000 | $418,000 | 5.00% | Outside sale (source: our comparables file) |
| 06/17/2026 | 640 N Whitnall Hwy | 6 | $1,315,000 | $219,167 | None | Outside sale (source: our comparables file) |
| 06/17/2026 | 425 E Magnolia Blvd | 8 | $2,612,500 | $326,562 | None | Outside sale (source: our comparables file) |
| 06/29/2026 | 710 E Cedar Ave | 4 | $1,620,000 | $405,000 | 3.44% | Outside sale (source: our comparables file) |
| 07/17/2026 | 140 N Pass Ave | 5 | $2,000,000 | $400,000 | 4.31% | Outside sale (source: our comparables file) |
| 08/19/2026 | 2005 Peyton Ave | 5 | $1,000,000 | $200,000 | None | Outside sale (source: our comparables file) |
| 09/08/2026 | 2250 N Fairview St | 9 | $3,100,000 | $344,444 | 5.55% | Outside sale (source: our comparables file) |
Price per unit is the recorded sale price divided by the units in the sale. Two rows need a note: 233 N Hollywood Way's deed covers two parcels, 233 and 237, sold together for 14 units; and for five sales from 05/2026 on (4101 W National, 425 E Magnolia Blvd, 140 N Pass Ave, 2005 Peyton Ave and 2250 N Fairview St) the deed has recorded but the county's transfer tax record had not posted when we last checked in 09/2026.
How the cap rates are estimated. Few Burbank sellers publish a cap rate. For each sale whose listing gave usable rents, we estimated one at the sale price from the listing's rents, with 3% vacancy and property taxes reset to the sale price, the way a buyer would underwrite it, according to our comparables file (method of 09/22/2026). These are our estimates, not the buildings' own statements, and a building's real figure can differ.
What we left out. Our file held 37 Burbank sale records for the period. We set aside seven: our own sale at 2907 W Riverside Dr (it is in our record below); two N Hollywood Way buildings sold the same day to one buyer at $825,000 each, which do not read as two separate market prices; 235 W Tujunga Ave, set aside in our 09/2026 comparable review; two mixed-use buildings with storefronts; and 528 E Verdugo Ave, reported closed on the MLS in 09/2026 with no recorded deed as of 09/22/2026, when we last checked. We will add it once it records.
What moves a Burbank price per unit?
Among these outside sales, the 13 buildings of 4 or 5 units sold at a median of $385,000 a unit and the 7 of 10 units or more at $278,300; the 6 built from 1984 to 1990 sold at a median of $377,500 against $330,875 for the 24 built earlier (outside sales, according to our comparables file, as of 10/28/2026).
The table does not separate the reasons, and these are small groups, so read them as observations, not measured effects. The usual drivers are the ones an owner would expect: unit size and bedroom count, how much upside in-place rents have to market, vacant units delivered at the sale, parking, condition, and for older wood-frame buildings, whether the City has ordered the building to comply with its soft-story ordinance.
The cap rate spread has the same causes. A cap rate is this year's net income over the price, so a building with long-term tenants and a lot of rent upside shows a low one, like 2.71% at 2344 N Niagara St, and a building already near market rents shows a higher one, like 6.75% at 1608 Grismer Ave, according to our comparables file.
How do they compare with our own Burbank sales?
The LAAA Team has closed 14 Burbank sales totaling $39.1M since 2015; the 11 apartment sales among them, 94 units in all, averaged $369,756 per unit at an average cap rate of 4.01% (our closed-transaction record, as of 10/30/2026).
The two sets differ in ways that matter more than either average:
- Years. Nine of our 11 Burbank apartment sales closed from 2015 to 2023, most of them when interest rates were lower than in 2025 and 2026. The 30 outside sales are all from 09/2025 to 09/2026.
- Cap rate sources. Our cap rates are from our own record of each sale; the outside sales' are our estimates from listing rents.
- Selection. Our sales are the buildings our clients chose to sell or buy with us; the outside sales are the comparables we track, not a full count of the market.
Our two most recent Burbank apartment sales fit the current range: Morgan Wetmore led the sale of 300 N Screenland Dr, five units in the Media District and the first sale since 1972, which closed 10/30/2026 at $1,700,000 all cash, $340,000 a unit, a 5.26% cap rate and a 12.35 GRM, 21 days from launch to an accepted offer, to a local owner who already holds two apartment buildings nearby; the team also sold 2907 W Riverside Dr for its owners, with Morgan representing the buyer, a four-unit building in the Media District, which closed 05/27/2026 at $1,590,000, $397,500 a unit and a 4.37% cap rate, per our track record. Put side by side, the 2025 to 2026 outside sales show a median estimated cap rate of 5.17% against an average of 4.01% for our own 2015 to 2026 sales. That gap is in the same period as the rise in interest rates since 2022, but these two samples cannot show how much of it comes from rates and how much from the buildings, the years or the method. Our full Burbank record, sale by sale, is on the Burbank page.
What do other published figures say?
Marcus & Millichap put Burbank's average multifamily sale price at $387,900 per unit in the first quarter of 2026, according to the Los Angeles Business Journal (09/07/2026). Lee & Associates' Q2 2026 report for the Tri-Cities, Glendale, Burbank and Pasadena together, shows $377,000 per unit, a 5.00% cap rate and 4.90% vacancy.
Each counts a different set of sales with its own definitions, so none will match the table above sale for sale. Lee & Associates' figures were $401,000 per unit and a 4.80% cap rate in Q1 2026, per the same report, and its average asking rent for the Tri-Cities was $2,572 a unit in Q2 2026.
AVA Burbank is not a comparable. The 747-unit AVA Burbank, 20 buildings built from 1961 to 1969, recorded at $241.4M, about $323,207 a unit, on 08/17/2026, according to the Business Journal. The paper described it as a valuation recorded by Vivmark, which holds the legacy AvalonBay properties, not a sale marketed to buyers, so it says little about what a smaller Burbank building will bring.
What does it mean for a Burbank owner?
- Use dated sales of buildings like yours. A 2021 per-unit figure and a 2026 one are different markets, and a fourplex and a 15-unit building are priced by different buyers. The table is dated and sized so you can pick the rows that fit.
- Expect the buyer to price the rent roll. In-place rents against market, vacant units and the AB 1482 cap on each lease move a Burbank price inside the range more than the street does.
- Have the soft-story and SB 721 answers ready. Our guide to selling a Burbank apartment building covers the deadlines and the records a buyer asks for.
Frequently Asked Questions
What are Burbank apartment buildings selling for in 2026?
The 30 outside Burbank apartment sales we track from 09/2025 to 09/2026, none of them LAAA sales, ranged from $200,000 to $587,500 per unit, with a median of $340,313 (as of 10/28/2026). Marcus & Millichap's Q1 2026 Burbank average was $387,900 per unit, according to the Los Angeles Business Journal.
What are cap rates for Burbank apartment buildings?
For the 22 of those sales with enough income data, our estimated cap rates at the sale price ran from 2.71% to 6.75%, a median of 5.17% (as of 10/28/2026). Lee & Associates' Q2 2026 figure for the Tri-Cities is 5.00%. A single building's rate depends heavily on how much upside its rents have to market.
How many apartment buildings sell in Burbank each year?
We track 30 Burbank apartment sales of 4 units or more, by other brokers or owners, from 09/2025 to 09/2026, after setting aside paired, mixed-use and unrecorded sales (as of 10/28/2026). That is our comparables file, not a full count.
Are Burbank apartment prices going down?
Lee & Associates' Tri-Cities price per unit fell from $401,000 in Q1 2026 to $377,000 in Q2 2026, per its Q2 report. Our own table is one year of sales and too small to measure a trend.
Own a Burbank building?
We price Burbank buildings from their own rent rolls and dated sales like those above. If you want to know where yours sits in the range, ask us for a valuation.
Get a valuation of your buildingSources
- LAAA Team comparables file: 37 Burbank sale records, 09/2025 to 09/2026, 30 shown, by other brokers or owners (not LAAA sales), each tied to its recorded deed and its parcel by APN; estimated cap rates by our 09/22/2026 method; read 10/28/2026.
- LAAA Team closed transactions in Burbank, 2015 to 2026, the same record the Burbank page publishes, read 11/02/2026.
- Los Angeles Business Journal, Vivmark's AVA Burbank stands at $241 million, 09/07/2026: labusinessjournal.com
- Lee & Associates, LA Tri-Cities multifamily market report, Q2 2026: lee-associates.com
Sales data as of 10/28/2026; our own record as of 11/02/2026. Prices are recorded sale prices; cap rates for outside sales are our estimates from listing rents. Not an appraisal or investment advice. LAAA Team of Marcus & Millichap.