Morgan Wetmore
Associate
CalDRE #02209935
2001-2005 Grismer Avenue
2001-2005 Grismer Avenue, Burbank, CA 91504
Burbank 14-unit apartment community with uniform two-bedroom floorplans and embedded rent upside.
Exclusively listed by the LAAA Team at Marcus & Millichap
- Listing Price
- $5,500,000
- Cap Rate
- 4.41%
- Units
- 14
- GRM
- 14.86
- Price / Unit
- $392,857
- Price / SF
- $485.27
- Gross SF
- 11,334 SF
- Year Built
- 1987
Offering
Burbank Multifamily Offering
A 14-unit, 1987-built North Burbank apartment asset offered at $5,500,000. The property is outside City of Los Angeles RSO and operates under AB 1482 statewide rent protections, with in-place rents materially below the OM's market rent schedule.
- 01
Not subject to City of Los Angeles RSO; Burbank operates under AB 1482
- 02
Uniform 2-bedroom/2-bath unit mix
- 03
Material rent upside between in-place and OM market rent schedule
- 04
1987 construction with laundry income in place
Gallery
Inside the Offering
2001-2005 Grismer Avenue, Burbank, CA 91504
Location
North Burbank Location
2001-2005 Grismer Avenue, Burbank, CA 91504
2001-2005 Grismer Avenue sits in North Burbank near the Grismer Avenue and Keystone Street corner, with access to Burbank's entertainment-employment base, neighborhood retail, transit connections, and the regional freeway network. The city is independent from Los Angeles, so the OM frames the rent regulation story around AB 1482 rather than City of Los Angeles RSO.
Listing Team
Exclusively listed by the LAAA Team.
For tours, financials, or offer guidance, reach out directly.
Glen Scher
Senior Managing Director Investments
CalDRE #01962976
Glen Scher
Senior Managing Director Investments
CalDRE #01962976
Filip Niculete
Senior Managing Director Investments
CalDRE #01905352
Filip Niculete
Senior Managing Director Investments
CalDRE #01905352
Next Step
Ready to dig into the financials?
Sign the Confidentiality Agreement to access the full Offering Memorandum for 2001-2005 Grismer Avenue.
