CA > Burbank
Burbank, CA 91501,515 E Elmwood AVE
Burbank, CA 91501,515 E Elmwood AVE
Burbank, CA 91501,515 E Elmwood AVE
Burbank, CA 91501,515 E Elmwood AVE
Burbank, CA 91501,515 E Elmwood AVE
Burbank, CA 91501,515 E Elmwood AVE
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James Olvera

James Olvera

The Warburton Team

+1(909) 760-9091
$ 9,100,000
Est. payment | /mo

48 Beds

48 Baths

23,440 SqFt

Save
$ 9,100,000
Est. payment | /mo
Save

48 Beds

48 Baths

23,440 SqFt

Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Square Footage 23,440 sqft

Price per Sqft $388

MLS Listing ID 25618945

Bedrooms 48

HOA Y/N No

Year Built 1987

Lot Size 0.420 Acres

Property Description

Constructed in 1987, the property consists entirely of two bedroom/two bathroom units. Situated north of Glenoaks Boulevard in the foothills of the Verdugo Mountains, the property allows tenants convenient access to Downtown Burbank and the Burbank Town Center shopping mall. 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. An investor can enjoy additional income via the landlord-owned laundry facilities as well as pet rent collected from tenants. 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 610 - Burbank

Zoning BUR4*

Interior

Heating None

Cooling None

Fireplace No

Exterior

Parking Features Assigned

Total Parking Spaces 48

Building

Story 3

Entry Level Multi/Split

Level or Stories Multi/Split

New Construction No

Others

Senior Community No

Tax ID 5621025049

Special Listing Condition Standard

CRMLS – RECore
Listed by Roderick 'Rick' Raymundo Marcus & Millichap

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