Investing in multi-family homes in Burbank, California offers several compelling advantages. Firstly, Burbank is a thriving city known as the "Media Capital of the World," hosting major film studios, entertainment companies, and production facilities. This presence creates a steady demand for rental properties, making multi-family homes a lucrative investment opportunity. Furthermore, Burbank's central location in the Los Angeles metropolitan area provides easy access to a wealth of cultural attractions, shopping centers, and recreational amenities, enhancing the desirability of the area for renters. Learn more about Burbank below!
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Demographics
Burbank offers a thriving environment for multi-family home investors due to its varied demographics. Home to a mix of young professionals, families, and individuals working in the entertainment industry, Burbank provides property owners with a diverse tenant pool in this lively suburban city.
The population of Burbank, California was 107,335 as of 2020.
According to the U.S. Census Bureau, some recent statistics for Burbank include:
- 65.5% of the population is aged 18-64 years
- 18.9% of the population is under 18 years
- The median household income between 2017-2021 was $82,246
Housing Statistics
Some recent housing data from the U.S. Census Bureau indicates that:
- There were 43,357 households with 2.46 persons per household in 2017-2021
- The owner-occupied housing unit rate in 2017-2021 was 42.8%
- The median gross rent for 2017-2021 was $1,859
Top Employers
Burbank is host to an impressive list of top employers, which can attract a diverse pool of potential tenants. Warner Bros. Entertainment Inc., The Walt Disney Company, and Providence Saint Joseph Medical Center are among the most prominent employers in the area, offering stable employment opportunities. Additionally, Burbank is home to numerous smaller businesses and startups, further enriching the local economy.
Transportation
Burbank offers convenient and accessible transportation options. The city is served by several major freeways, including I-5 and Route 134, allowing for easy commuting and travel to surrounding areas. Additionally, Burbank is home to the Bob Hope Airport, providing domestic flights and rail access to Los Angeles. In terms of public transportation, Burbank is well-served by the Metrolink commuter rail system, which connects to downtown Los Angeles and other neighboring cities. The city also benefits from a network of bus routes operated by the Burbank Bus, providing local transportation options for commuters and residents.
Shopping and Dining
Burbank's vibrant shopping and dining scene should not be overlooked. The city is home to popular shopping centers such as Burbank Town Center and The Empire Center, which feature a mix of national brands, specialty shops, and entertainment venues.
Burbank also boasts a thriving culinary landscape with an abundance of restaurants, cafes, and eateries. From cozy cafes to upscale dining establishments and trendy food trucks, the city offers a rich tapestry of flavors and cuisines to cater to every palate. The local dining scene encompasses a diverse range of international cuisines, farm-to-table options, and creative culinary experiences.
Things to Do
Burbank is renowned for its diverse range of cultural and entertainment offerings, making it an enticing location for residents and tenants. One of the city's notable points of interest is tours visitors can take throughout the famous studios located in Burbank. Additionally, Burbank features a thriving arts and culture scene, with concerts, performances, and community events. For nature enthusiasts, the city also offers beautiful parks and recreational areas.
Major Attractions in Burbank:
- Warner Brothers Studio
- The Walt Disney Studios
- Stough Canyon Nature Center
- Burbank Town Center
- Martial Arts History Museum
- Griffith Park & Observatory
- Colony Theatre
- Gordon R. Howard Museum
Invest in Multi-Family Real Estate in Burbank with the Bridge Multifamily Team at Cushman & Wakefield
Thinking of purchasing multi-family units and investment properties in Burbank, California? Connect with the Bridge Multifamily Team at Cushman & Wakefield to get started on your multi-family property search today. Reach out to us online or give our office a call at 949-372-4888!
