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2001-2005 Grismer Avenue, Burbank, CA 91504

2001-2005 Grismer Avenue

2001-2005 Grismer Avenue, Burbank, CA 91504

14-Unit North Burbank Multifamily

Exclusively listed by the LAAA Team at Marcus & Millichap

Listing Price
$5,350,000
Cap Rate
4.56%
Units
14
GRM
14.46
Price / Unit
$382,143
Price / SF
$472.03
Gross SF
11,334 SF
Year Built
1987

Offering

Offering Snapshot

A 14-unit, 1987-built North Burbank apartment asset offered at $5,350,000. The property is outside City of Los Angeles RSO and operates under AB 1482 statewide rent protections, with in-place rents materially below the market rent schedule.

  1. 01

    14-unit, 1987-built North Burbank apartment community offered at $5,350,000

  2. 02

    Uniform 2-bedroom / 2-bathroom unit mix across all 14 units

  3. 03

    Current NOI of $244,123 and pro forma NOI of $329,757

  4. 04

    In-place average rent of $2,203 per unit against a $2,750 market rent

  5. 05

    Burbank is independent from Los Angeles, and the property is governed by AB 1482, not City of Los Angeles RSO

Location

North Burbank Location

2001-2005 Grismer Avenue, Burbank, CA 91504

A North Burbank setting near neighborhood retail, transit connections, and the city's entertainment and employment base. The property is outside City of Los Angeles rent control and is governed by California AB 1482.

Listing Team

Exclusively listed by the LAAA Team.

For offering materials, financials, or offer guidance, reach out directly.

Next Step

Ready to dig into the financials?

Sign the Confidentiality Agreement to access the full Offering Memorandum for 2001-2005 Grismer Avenue.

LA Apartment Advisors

The LAAA Team

Marcus & Millichap

All property showings are by appointment only.

This information has been secured from sources believed to be reliable, but no representations or warranties, expressed or implied, are made as to the accuracy of the information. References to square footage, age, or income are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. All property showings are by appointment only.

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