424 E Cedar Avenue, Burbank, CA 91501

$3,475,000

Property Type: Residential Income Bedrooms: 18 Baths: 18 Square Footage: 1,918 Lot Size (sq. ft.): 7,716 Status: Closed

Current Price: $3,475,000 List Date: 1/08/2022 Last Modified: 4/23/2024

Overview

Description

Excellent investment opportunity: 10-unit apartment community located in the highly sought-after City of Burbank. Its unit mix consists of (2) one-bedroom, one-bath and (8) two-bedroom, two-bath units. Tenants enjoy the walkability and ease of access to shopping, dining, schools, parks, entertainment, public transportation, and freeways I-5 and SR-134. Carefully maintained by owner of 25 years with upgrades along the way. Recent improvements include new composition shingle roof, kitchen cabinets & appliances, hardwood floors, ceramic tile, and exterior paint. This building also features copper plumbing, newer 100+ gallon water heater, 2 parking spots per unit in gate-controlled underground parking with gated exit to alley. Exterior lighting and secured entrance to front doors provide added safety to tenants. Tenants also enjoy either a private balcony or patio, gas fireplace, central air, and attractive grounds. Coin-operated laundry machines provide additional income to owner ... (Read more)

Listing Details MLS# 222000112

General Property Information

# Bedrooms: 18
Baths - Full: 18
Baths - Total: 18
Approx SqFt: 1918
Lot Acres: 0.18
Lot SqFt: 7716
Year Built: 1986
Common Walls: Yes

Property Features

Land Lease Type: Fee Simple Special Conditions: Standard Terms: Cash; Conventional Possession: Close of Escrow Lot Description: Automatic Gate Lot Location: Alley Access Other Property Features: Balcony; Full Copper Plumbing Disclosures: Property As Is Construction: Frame & Stucco Levels: Two Entry Location: Ground Level w/Steps Appliances: Dishwasher; Garbage Disposal Laundry Equipment: Own Cooking Appliances: Oven Bathroom Features: Shower & Tub Doors: Sliding Glass Door(s) Exterior Construction: Hard Coat Stucco Foundation: Concrete Block; Concrete Perimeter; Concrete Slab; Pier Jacks; Pillar/Post/Pier Flooring: Carpet; Hardwood; Stone Tile Cooling Type: Central A/C; Electric; Gas Heating Type: Central Furnace Heating Fuel: Natural Gas Fireplace Location: Living Room Fireplace Features: Other Fireplace Fuel: Gas Laundry Locations: Community; Laundry Area Security Safety: Automatic Gates; Exterior Security Lights Windows: Vertical Blinds; Window Blinds Patio Features: Enclosed Water Heater Feature: 60+ Gallon Tank; Gas; Hot Water Circulator Green Location: Walkability Parking Type: Gated Underground Parking Features: Controlled Entrance Association Fees Include: Water Paid Landlord Pays For: Gardner; Water; Other Tenant Pays: Electricity; Gas Unit 1 Furnished: Unfurnished Unit 2 Furnished: Unfurnished Unit 3 Furnished: Unfinished Unit 4 Furnished: Unfurnished Unit 5 Furnished: Unfinished Unit 6 Furnished: Unfinished Unit 7 Furnished: Unfinished Unit 8 Furnished: Unfinished Unit 9 Furnished: Unfinished Unit 10 Furnished: Unfinished Financing: Cash

Listing Location and Property Info

Entry Date: 2022-01-08
Listing Price: 3800000
Street #: 424
Direction: E
Street Name: Cedar
Suffix: Avenue
County: Los Angeles
State/Province: CA
Zip Code: 91501
APN/Tax ID: 5621024010
Area: 610 - Burbank
Subdivision/Tract Code: Custom
Country: US

Listing Info

Total # of Units in Complex: 10

Property Info

View: No
Alley: Yes
Paved: Yes
Dwelling Total Floors: 2
# of Buildings: Yes
Pool: No
Spa: No
Fireplace: Yes
Water Heater: Yes

Status Change Info

Pending Date: 2022-02-10
Closed Date: 2022-02-18
Closed Price: 3475000
Sold Price/SqFt: 1811.78

More Information

Units Information

Number of Units Leased: 8
Total Actual Rent: 15320
# of Ranges: 10
# Separate Electric Meters: 10
# Separate Gas Meters: 10

HOA 1 Information

HOA: No

Unit 1 Information

Unit-1 # of Beds: Yes
Unit-1 # of Baths: Yes
Unit-1 Monthly Rent: 1500

Unit 2 Information

Unit-2 # of Beds: 2
Unit-2 # of Baths: 2
Unit-2 Monthly Rent: 1500

Unit 3 Information

Unit-3 # of Beds: 2
Unit-3 # of Baths: 2
Unit-3 Monthly Rent: 1500

Unit 4 Information

Unit-4 # of Beds: 2
Unit-4 # of Baths: 2
Unit-4 Monthly Rent: 2000

Unit 5 Information

Unit-5 # of Beds: 2
Unit-5 # of Baths: 2
Unit-5 Monthly Rent: 1400

Unit 6 Information

Unit-6 # of Beds: 2
Unit-6 # of Baths: 2
Unit-6 Monthly Rent: 2000

Unit 7 Information

Unit-7 # of Beds: 2
Unit-7 # of Baths: 2
Unit-7 Monthly Rent: 1500

Unit 8 Information

Unit-8 # of Beds: 2
Unit-8 # of Baths: 2
Unit-8 Monthly Rent: 1460

Unit 9 Information

Unit-9 # of Beds: Yes
Unit-9 # of Baths: Yes
Unit-9 Monthly Rent: 1060

Unit 10 Information

Unit-10 # of Beds: 2
Unit-10 # of Baths: 2
Unit-10 Monthly Rent: 1400

Listing, Location and Property Info

Entry Date: 2022-01-08
List Price/SqFt: 1981.23

Land Lease Type

Fee Simple: Yes

Special Conditions

Standard: Yes

Terms

Cash: Yes
Conventional: Yes

Possession

Close of Escrow: Yes

Lot Description

Automatic Gate: Yes

Financing

Cash: Yes

Lot Location

Alley Access: Yes

Other Property Features

Balcony: Yes
Full Copper Plumbing: Yes

Disclosures

Property As Is: Yes

Laundry Locations

Community: Yes
Laundry Area: Yes

Construction

Frame & Stucco: Yes

Levels

Two: Yes

Entry Location

Ground Level w/Steps: Yes

Appliances

Dishwasher: Yes
Garbage Disposal: Yes

Laundry Equipment

Own: Yes

Cooking Appliances

Oven: Yes

Bathroom Features

Shower & Tub: Yes

Doors

Sliding Glass Door(s): Yes

Exterior Construction

Hard Coat Stucco: Yes

Security Safety

Automatic Gates: Yes
Exterior Security Lights: Yes

Foundation

Concrete Block: Yes
Concrete Perimeter: Yes
Concrete Slab: Yes
Pier Jacks: Yes
Pillar/Post/Pier: Yes

Flooring

Carpet: Yes
Hardwood: Yes
Stone Tile: Yes

Property/Land Information

Actual Total Rent $: 15320
Annual Gross Rent $: 183840

Cooling Type

Central A/C: Yes
Electric: Yes
Gas: Yes

Heating Type

Central Furnace: Yes

Heating Fuel

Natural Gas: Yes

Fireplace Location

Living Room: Yes

Fireplace Features

Other: Yes

Fireplace Fuel

Gas: Yes

Windows

Vertical Blinds: Yes
Window Blinds: Yes

Patio Features

Enclosed: Yes

Water Heater Feature

60+ Gallon Tank: Yes
Gas: Yes
Hot Water Circulator: Yes

Green Location

Walkability: Yes

Parking Spaces/Information

Number of Remotes: 10
Total Garage Spaces: 20

Parking Type

Gated Underground: Yes

Parking Features

Controlled Entrance: Yes

Association Fees Include

Water Paid: Yes

Landlord Pays For

Gardner: Yes
Water: Yes
Other: Yes

Tenant Pays

Electricity: Yes
Gas: Yes

Unit 1 Furnished

Unfurnished: Yes

Unit 2 Furnished

Unfurnished: Yes

Unit 3 Furnished

Unfinished: Yes

Unit 4 Furnished

Unfurnished: Yes

Unit 5 Furnished

Unfinished: Yes

Unit 6 Furnished

Unfinished: Yes

Unit 7 Furnished

Unfinished: Yes

Unit 8 Furnished

Unfinished: Yes

Unit 9 Furnished

Unfinished: Yes

Unit 10 Furnished

Unfinished: Yes

Listing Office: MCD Realty Inc.

Listing Agent: Tiffany Jennings |

Last Updated: April - 23 - 2024

Based on information from the CSMAR Multiple Listing as of [date the AOR/MLS data was obtained]. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.