1700 Grismer Ave Immeuble residentiel 5 lots 2 248 915 € (449 783 €/Lot) Taux de capitalisation 4,93 % Burbank, CA 91504

Incredible value-add opportunity situated in a desirable Burbank area. The property boast a 10,603 sq. ft. lot which offers significant development potential, similar to neighboring properties. There is the possibility to build up to 10 units, subject to verification by the City of Burbank. Buyer to conduct their own due diligence. Currently the property consists of 6 garden style units with 2 units in each building. There are 3 one bedroom, one bath units and 3 two bedroom, one bath units. The long term tenants add stability to the property. The interiors are meticulously maintained and five of the six units have central heat and air.. Parking includes a 4 car carport and 3 uncovered spaces. A coin operated laundry area is conveniently located in one of the oversized carports. The last two units were originally one large single family residence that has been divided into two separate units. This alternation may have been completed without permits and buyers should investigate.
To enhance the appeal, the seller is offering seller financing and is willing to carry the first trust deed with 40% Down payment at very competitive interest rates. Offer subject to inspection.