1799 N Hollywood Way Active Save Request In-Person Tour Request Virtual Tour
Burbank,CA 91505
Key Details
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 9,306 sqft
Price per Sqft $418
MLS Listing ID 25610503
Bedrooms 14
Year Built 1963
Lot Size 10,154 Sqft
Property Sub-Type Multi-Family
Property Description
Situated near the popular Magnolia Park neighborhood, the property occupies a corner lot within a quiet area surrounded by mostly single-family residences. Due to the fact that the property is subject only to Burbank's local rent ordinance, a new owner may be able to recapture the rent upside and keep pace with improving rent growth via higher allowable rent increases, when compared with other assets subject to Los Angeles rent control. The current owners have completed all seismic retrofit repairs (Buyer to verify), saving a new investor from an otherwise costly maintenance expense. The property also offers investors a strong supplemental revenue stream via its landlord-owned laundry facilities. Dubbed the "Media Capital of the World," the city of Burbank is home to a vast contingent of entertainment employers, which allows tenants convenient commutes to studios. Notable media production campuses in and around Burbank include Disney Studios, Walt Disney Imagineering, Warner Bros. Studios, Universal Studios, Nickelodeon Studios, Cartoon Network, and DreamWorks Animation.
Location
State CA
County Los Angeles
Area Burbank
Zoning BUR4*
Rooms
Other Rooms None
Interior
Heating Other
Cooling Other
Equipment Other
Exterior
Parking Features Assigned
Garage Spaces 14.0
Building
Story 2
Others
Special Listing Condition Standard