Contact Xavier Gomez
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198 Elmwood , Burbank, CA 91502
Priced at Only: $2,395,000
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Address: 198 Elmwood , Burbank, CA 91502
Property Location and Similar Properties
- MLS#: GD26010495 ( Commercial/Residential )
- Street Address: 198 Elmwood
- Viewed: 1
- Price: $2,395,000
- Price sqft: $0
- Waterfront: No
- Year Built: 1953
- Bldg sqft: 0
- Days On Market: 53
- Additional Information
- County: LOS ANGELES
- City: Burbank
- Zipcode: 91502
- Provided by: Trinity Real Estate & Investme
- Contact: Silvia Silvia

- DMCA Notice
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DescriptionPrime Burbank 6 Unit Multifamily | Strong Rental Upside | 5.7% Pro Forma Cap Located in the highly desirable City of Burbank subject to AB 1482 with higher allowable annual rental increases than the City of Los Angeles this pride of ownership six unit multifamily property presents an exceptional value add investment opportunity with approximately 18%+ rental upside. The property consists of six spacious 2 bedroom, 1 bath units, each featuring bright living rooms, well sized kitchens with dining areas, generous bedrooms, and ample closet space. The building has been well maintained and includes a newer roof, partial copper plumbing, six covered parking spaces, and an on site laundry room with owned machines. The property is separately metered for gas and electricity. Ideally situated less than one mile from Downtown Burbank, tenants enjoy convenient access to shopping, dining, cafs, entertainment, and the Burbank Town Center. The property is also in close proximity to major employment hubs including Walt Disney Studios, Warner Bros., and the citys thriving media and technology sector, as well as award winning Burbank schools. Commuters benefit from excellent freeway access to the 5, 134, and 2, providing direct connectivity to Glendale, Pasadena, Eagle Rock, Downtown Los Angeles, and the San Fernando Valley. This offering represents a rare opportunity to acquire a stable, well located multifamily asset in one of Los Angeles Countys most resilient and supply constrained rental markets. Financial Highlights (Based on New Tax Basis): 4.9% Cap Rate | 14.79 GRM at Current Rents 5.7% Pro Forma Cap Rate | 13.0 Pro Forma GRM
Features
Accessibility Features
- Parking
- See Remarks
Appliances
- Dishwasher
- Free-Standing Range
- Gas Range
- Gas Water Heater
- Range Hood
- Refrigerator
Association Fee
- 0.00
Building Area Total
- 4804.00
Commoninterest
- None
Common Walls
- 2+ Common Walls
Construction Materials
- Unknown
Cooling
- Wall/Window Unit(s)
Country
- US
Days On Market
- 52
Electric
- Standard
Electric Expense
- 0.00
Entry Location
- front
Fencing
- Wrought Iron
Fireplace Features
- None
Flooring
- Laminate
- Tile
- Wood
Fuel Expense
- 154.00
Garage Spaces
- 6.00
Heating
- Wall Furnace
Inclusions
- 6 stoves
- 4 frig
- 3 dishwasher
Insurance Expense
- 7735.00
Interior Features
- Ceiling Fan(s)
Laundry Features
- Common Area
Levels
- Two
Lot Features
- Front Yard
- Sprinkler System
Netoperatingincome
- 114793.00
Parcel Number
- 2451001035
Parking Features
- Carport
Pool Features
- None
Professionalmanagementexpense
- 0.00
Property Type
- Commercial/Residential
Road Frontage Type
- City Street
Road Surface Type
- Paved
Roof
- Composition
Sewer
- Public Sewer
Sourcesystemid
- CRM
Sourcesystemkey
- 454734010:CRM
Totalactualrent
- 8445.00
Totalexpenses
- 40558.00
Trash Expense
- 2000.00
Utilities
- Electricity Connected
- Sewer Connected
- Water Connected
View
- Neighborhood
- See Remarks
- Trees/Woods
Water Sewer Expense
- 2059.00
Water Source
- Public
Year Built
- 1953
Year Built Source
- Assessor
- Xavier Gomez, BrkrAssc,CDPE
- RE/MAX College Park Realty
- BRE 01736488
- Fax: 714.975.9953
- Mobile: 714.478.6676
- salesbyxavier@gmail.com


















