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Listed by Armin Soleimani and Julio Ruiz of Global Platinum Properties,Inc.
Huge 400k Price Reduction! This is an excellent opportunity to invest in a rare non-rent controlled 20-unit building (90% occupied) in the prime Burbank area, priced at only $279k per door for renovated units. The property boasts an incredible current 5.74% Cap Rate and 12.5 GRM with upside potential to reach a 6.3% cap rate and 11.6 GRM on proforma. 14 fully renovated units with permits and 2 partially remodeled units offer promising long-term value for any forward-thinking investor. Additionally, the large lot size of approximately 19,166 SF provides ample parking spaces as well as potential for future upside by adding multiple ADUs (Accessory Dwelling Units). Non-LA-City rent-controlled asset allowing significant 8.8% annual rent increases (5%+CPI) for future upside. 14 units have been completely renovated with permits (2 vacant) and boast a high-end aesthetic with new cabinets, flooring, modern lighting, new bathrooms, stainless steel appliances, as well as major exterior capital improvements. Amenities include a renovated courtyard with seating areas and a fire pit, on-site laundry facilities, and parking for convenience. Prime Burbank location just minutes away from media giants such as Warner Bros Studios, Walt Disney Studios, and Burbank Town Center Shopping Mall.

Property Details of 2001 Peyton Avenue

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Based on information submitted to CRMLS as of February 23, 2024 7:27 PM EST . All data is deemed reliable but is not guaranteed accurate by the MLS. All information should be independently reviewed and verified for accuracy. IDX information is provided exclusively for consumers’ personal, noncommercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

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