1814 Grismer Avenue

Burbank, CA 91504

$5,500,000

List Price

14

bed Beds

16

shower Baths

9,906 sqft

straighten / sqft

1961

calendar_month Built

Property Description

The building is exempt from Los Angeles Rent Control and therefore an investor can benefit from higher allowable annual rent increases through AB 1482. Only two units have been given rent increases within the past year, potentially allowing a new owner to improve the property's cashflow almost immediately (Buyer to verify). Situated within a mile of both the Burbank Town Center and the Empire Center, this property grants tenants convenient access to numerous major national retailers and an extensive slate of entertainment and dining options. Stores such as Costco, Target, Walmart, Nordstrom Rack, Macy's, Cost Plus World Market, and Best Buy provide local residents a wide array of local shopping choices. 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.

Listing Information

List Price $5,500,000
Status Active
MLS 24460053
Type Residential Income
Year Built 1961
Lot Size 10,112
Structure Size 9,906
Courtesy Of Marcus & Millichap
Listing Agent Roderick 'Rick' Raymundo DRE#01357019

Interior Features

Total Bedroom
Bedrooms 14
Total Bathroom
Bathrooms 16

Exterior Information

Maps

Listing information courtesy of: Roderick 'Rick' Raymundo, Marcus & Millichap 213-943-1855. *Based on information from the Association of REALTORS/Multiple Listing as of Nov 4th, 2024 at 11:43 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.