1923 Grismer Ave. 1923 Grismer Ave 3 Lot Offre d’immeuble d’habitation à 1 259 399 € à un taux de capitalisation de 2,76 % Burbank, CA 91504

This Multi Family property offers a move-in-condition Main House, Plus a Rear 2 Story Duplex in need of cosmetic enhancements and routine maintenance to align with the area's higher rental values. Current rents are lower than average due to all tenants residing for over 25 and 30 years. ProForma rents would bring in a 4% Cap Rate or higher.
Lot is Zoned R4 for High-Density Residential/Multi-Family, property. The property features a main house built with a Spanish architectural style in 1923 and has 3 bedrooms (Title States 2) and 1 bath, approx. 884 sq. ft. of living space, equipped with inside laundry hookups. The front yard is nicely shaded with trees and offers a nice area to enjoy the outdoors.
Additionally, two rear units are accessed from 1710 Peyton Ave and were added added in 1961, each with 2 bedrooms, 1 bath, and approx. 810 sq. ft.. Both units come with inside laundry hookups, a balcony for the upper unit, and a gated yard for the lower unit, providing desirable amenities for tenants. One unit of Duplex is currently Section 8. Main house has new permitted roof as of 2023. The location is convenient--directly across from Earth Walk Park, and with close proximity to schools, Shopping and the Burbank Airport and major freeways. The location offers convenience and a vibrant neighborhood. Buyer to confirm square footage. Submit offers with POF and Lenders Letter of Approval.