34
0
231 E Burbank Boulevard
Burbank, CA 91502
Residential Multi Family (Apartment)
0.19 Acres
10596 Sqft Living Area
17 Bedrooms
17 Bathrooms (17 Full, 0 Half)
Year Built: 2006
$5,150,000
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Property Description
The Alexanian Apartment Advisors as exclusive marketing advisor to the seller, are pleased to present for the very 1st time ever, the Burbank Terrace Condos. Being offered by the original developer and owner since its inception in 2006, the property can widely be considered one of the nicest assets to be built within the city. Initially developed as condominiums, the level of construction and attention to detail is of high caliber. There is currently a $1.995M assumable loan at 3.45% This unique opportunity to obtain capital at over 50% discount from the going interest rates will significantly improve cash flow and shelter against rising inflation. For additional cashflow stream, a utility billback system can easily be incorporated as well. Boasting massive unit mixes and modern luxuries such as in-unit washer dryers, fireplaces, wet bars, gated subterranean parking, intercom controlled access, and priceless views of the Verdugo Mountains, the Terraces are With a WalkScore® of 92, a "Walker's Paradise" tenant are within reach of all major shops, dining, and service options within the city. Across the street from the largest and most touted Burbank High School, vacancy has been and will continue to be historically nonexistent. As Burbank tenants and landlords alike wait patiently, the proposed old lkea site development which will be only steps away from the subject property is said to be a game changer and transformative almost to the likes of Americana and Glendale. This once-in-a-lifetime acquisition opportunity allows for multiple investment strategies. The asset is essentially rent control proof since the units are individually parceled for a potential condo sell-out exit strategy. ** Contact listing agent for offering memorandum **
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Contact Details
Name: Levon Alexanian
Email: info@alexanianadvisors.com
MLS Listing Id: SR23194297
Agent Phone: (818) 239-3500
List Agent License: 00911091
Office Name: Keller Williams World Media Center
Office Phone: (818) 239-3500
Office MLS Id: F8552001
Listing Status: Active
Copyright © 2024 California Regional Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Copyright © 2024 OpenHous, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
