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About the Listing CLW-G7207 - CLW-G114954
Exceptional Investment Opportunity in the Heart of Burbank. This well-maintained 5-unit property features a desirable front owner's unit and a two-story rear building with four additional rental units. Amenities include five garage parking spaces, one uncovered parking spot, and an on-site laundry room, ideal for both tenant convenience and additional income potential. Perfectly located near Warner Bros. and NBC Studios and just 15 minutes from Universal Studios. The front unit is a prime candidate for Airbnb or short-term rentals, offering significantly higher revenue compared to traditional annual leasing. The property underwent extensive renovations in 2022 and 2023, including a new roof on units and garages and new dual-pane windows in most units (except one). The current leases remain in place through August 31, 2025, the owner unit's rent based on AirBNB income, at which time rents can be adjusted by California's rent control guidelines. Bonus income potential: The new owner can increase revenue through separate charges for garage parking and storage. With rent increases taking effect, coupled with low building expenses and minimal maintenance, this property has the potential to achieve a cap rate exceeding 5.5%.
Listing Highlights for 140 N Pass Ave
Status
Active
Days on Site
77
Property Type
Multi-Family
MLS ®
25555629
Year Built
1941
Total Square Footage
4,077
Lot/Acreage
0.13
County
Los Angeles
Area
610 - Burbank
Interior Details
- Bedrooms: 6
- Bathrooms: 5 Full
- Appliances: Disposal, Refrigerator, Gas Range
- Air Cond:
- Heating: Natural Gas
- Fireplaces: Bath,Kitchen,Living Room
- Floor: Laminate
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other: Crown Molding
- Water: Public
Exterior Details
- Lot Description: Rectangular Lot,No Land Lease
- Garage Capacity: 5 car
- Parking Spaces: 6
- Zoning: BUR4*
- Roof: Composition,Shingle
- Others: 2+ Total Units
- Sewer: Sewer Paid
- Parking Features: Garage - Single Door,Garage - Two Door,Parking Space,Street
Financial Details
- Tax Amount: N/A
- Taxes w/Assessments: N/A
- Tax/Property ID: 2485007012
- Tax Year: N/A
Payment Calculator
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Listing Location
Questions About..
140 N Pass Ave Burbank, CA 91505
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