455 - 457 W Elm, Burbank, CA 91506

Property Description

Amazing opportunity to acquire 455-457 W Elm Avenue, a 12-unit multifamily investment property located in Burbank's desirable Rancho Adjacent submarket. A Distinctive 12-Unit Multifamily Investment in the Heart of Burbank The property consists of approximately 9,528 square feet across two well-maintained, Tudor-style residential buildings. The courtyard-style configuration, mature landscaping, brick detailing, and distinctive architectural character contribute to an inviting residential environment and strong curb appeal. The property generates approximately $312,300 in annual gross income. Based on stabilized expenses of $117,749, the offering produces an estimated stabilized net operating income of $194,551. At the $4,500,000 asking price, the property is offered at a 4.32% capitalization rate, $375,000 per unit, and approximately $472.29 per square foot. Current residential rents average approximately $2,123 per unit per month, excluding garage income, compared with a reported submarket median of approximately $2,350 for comparable two-bedroom, one-bathroom units. This difference may provide an opportunity for future rental growth through natural turnover, subject to applicable rent regulations, market conditions, unit condition, and buyer verification. Please do no