Price Reduction
Address
509 E Valencia Avenue Burbank, CA
Price
$ 3,199,983
Property Attributes
  • MLS#SR20206676
  • TypeIncome
  • CountyLOS ANGELES
  • CityBurbank
  • AreaBurbank
  • Zip91501
  • Style
  • Price$ 3,199,983
  • Bedrooms0
  • Full Bathrooms0
  • Half Bathrooms0
  • Sqr Footage8202
  • Lot Size7,845 SqFt
Listing Provided Courtesy Of:
Guy Arnone with Realty One Group Success
Property Description

We are marketing this 7 unit multi-residential investment opportunity located in the highly desirable City of Burbank. The subject property was built in 1962 and located in the City of Burbank, a submarket of Los Angeles, in the San Fernando Valley, adjacent to the City of Glendale. The units are separately metered for gas and electricity and has on-site laundry services that are a revenue generator. Burbank is not subject to rent control and has on-site parking. The average size for a Burbank, Los Angeles County, CA apartment is 799 square feet, with an average rental rate of $2341 per month, an 8% YOY increase! The property boasts a mix of five 3 bedroom, 2 bathroom units and two 2 bedroom, 2 bathroom units. The prime location allows occupants to enjoy all of Burbank’s world famous entertainment, dining and culture, within the comfort of a quiet and luxurious apartment. The improvements are built on a 7485 square foot lot with a total rentable square footage of 8202. Tenants are able to walk, bike & hike to local numerous eateries, café’s & parks. Burbank, which is a highly desirable rental market and is known as the media capital of the world. It is home to Disney Studios, Warner Brothers, and NBC. The city has over 80 restaurants, 30 movie screens, and 200 stores; its residents enjoy top ranked schools, easy access to the 5 and 134 freeways, and close proximity to the Burbank Metro Link.

Price History
10/3/2020 Listed $3,199,999
10/16/2020 1% - $3,199,998
10/17/2020 1% - $3,199,997
10/23/2020 1% - $3,199,996
10/24/2020 1% - $3,199,995
10/26/2020 1% - $3,199,994
10/30/2020 1% - $3,199,993
10/31/2020 1% - $3,199,992
11/1/2020 1% - $3,199,991
11/6/2020 1% - $3,199,990
11/7/2020 1% - $3,199,989
11/23/2020 1% - $3,199,988
11/24/2020 1% - $3,199,987
11/25/2020 1% - $3,199,986
1/11/2021 1% - $3,199,985
1/15/2021 1% - $3,199,984
1/16/2021 1% - $3,199,983

General Features

Appliances Gas Range
Assessments None
Attached Structure Attached
Carport Spaces 7.00
Community Features Sidewalks, Street Lights
Construction Materials Drywall Walls, Stucco
Cooling Wall/Window Unit(s)
Directions Glenoaks to Valencia
Flooring Carpet, Vinyl
Garage Spaces 0.00
HOA Fee 0.00
Heating Wall Furnace
Levels Two
Listagentaor Southland
Listing Agent Guy Arnone - BRE#00994214
Listing Agent State License 00994214
MLS Area 610 - Burbank
Number of Units Leased 7
Parking Features Carport, Community Structure, Driveway, Paved
Pool Features None
Price Per Square Foot 390.15
Property Attached Y/N Yes
Roof Composition, Tar/Gravel
Sewer Public Sewer
Source System CRMLS
Spa Features None
Special Listing Conditions Standard, Trust
Total Units 7
Utilities Electricity Connected, Phone Connected, Sewer Connected, Water Connected
View None
Zoning BUR4*

Interior Features

1st Bedroom Area Unit Type Square Feet
2nd Bedroom Area Unit Type Square Feet
3rd Bedroom Area Unit Type Square Feet
Air Conditioning Y/N Yes
Appliances Y/N Yes
Common Walls 1 Common Wall, End Unit
Fireplace Features None
Garbage Disposal Count 7
Heating Y/N Yes
Laundry Features Common Area, Community, Dryer Included, Washer Included
Laundry Y/N Yes
Number of Wall ACs 7
Numberwithcarpet 7
Range Count 7
Refrigerator Count 7
Studio Area Unit Type Square Feet
Total Stories 2
Windows with Drapes 7

Exterior Features

Building Area Total 8202.00
Fence Y/N Yes
Fencing Block
Lot Features Lot 6500-9999, Near Public Transit
Lot Size Acres 0.1801
Lot Size Area 7845.0000
Lot Size Source Assessor
Lot Size Square Feet 7845.00
Lot Size Units Square Feet
Number of Buildings 1
Number of Separate Electric Meters 7
Number of Separate Gas Meters 7
Parking Y/N Yes
Patio Count 7
Total Parking 7.00
Water Source Public

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Master On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Zip Code Average in 91501

Price
AVG $3.2M
$3.2M
Visits
AVG 70
40
Year Built
AVG 1962
1962
Walkscore
AVG 86
86
Data Provided by Walkscore ® not using MLS data

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