2001 Peyton Ave, BURBANK, CA

$5,995,000

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20

Baths

9,232

Square feet

0.37

Acres

About 2001 Peyton Ave

This is an excellent opportunity to invest in a rare non-rent-controlled 20-unit building (95% occupied) in the prime Burbank area, priced at only $299k per door for renovated units. The property boasts an incredible current 5.25% Cap Rate and 13.2 GRM with upside potential to reach a 5.7% cap rate and 12.4 GRM on proforma. 16 fully renovated units with permits and 1 partially remodeled units offer promising long-term value for any forward-thinking investor. Additionally, the large lot size of approximately 19,166 SF provides ample parking spaces, and there is potential for future upside by adding multiple ADUs (Accessory Dwelling Units).Non-LA-City rent-controlled asset allowing significant 8.9% annual rent increases (5%+CPI) for future upside. 16 units have been completely renovated with permits (1 vacant) and boast a high-end aesthetic with new cabinets, flooring, modern lighting, new bathrooms, stainless steel appliances, as well as major exterior capital improvements. Amenities include a renovated courtyard with seating areas and a fire pit, on-site laundry facilities, and parking for convenience. Prime Burbank location is just minutes away from media giants such as Warner Bros Studios, Walt Disney studios, and Burbank Town Center Shopping Mall.

Features of 2001 Peyton Ave

MLS® # 24-436685
Price $5,995,000
Bathrooms 20.00
Square Footage 9,232
Acres 0.37
Year Built 1960
Type Residential Income
Sub-Type Apartment Building
Style Art Deco
Status Active

Community Information

Address 2001 Peyton Ave
Area Burbank
City BURBANK
County Los Angeles
State CA
Zip Code 91504

Amenities

Parking Spaces 20
Garages Assigned, Uncovered
Is Waterfront No
Has Pool No

Interior

Interior Laminate
Heating Wall
Cooling Ceiling Fan
Fireplace No
# of Stories 2
Has Basement No

Additional Information

Date Listed September 6th, 2024
Days on Market 61
Zoning BUR4*
Foreclosure No
RE / Bank Owned No

Listing Details

AgentArmin Soleimani (01846872)
OfficeGlobal Platinum Properties, Inc.

Listing Map

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