1819 W Alameda Avenue

About This Property

1819 W. Alameda Ave is offered at a 6.20% cap rate and comprises 20 units in Burbank's Rancho Adjacent neighborhood, near the center of the city between Verdugo and Alameda Avenues. The unit mix includes 16 two-bedroom/two-bathroom units and 4 two-bedroom/one-bathroom units, 11 of which have already been remodeled giving new ownership a clear value-add roadmap: renovate the remaining nine units to bring them to market rent and capture the property's approximately 15% loss to lease by filling existing vacancies. Additional upside exists in monetizing the property's 40 parking spaces, which currently sit unrented.

Neighborhood

This property is located in Burbank. Want to learn more about the area?

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Listing courtesy of Dover Management Corp.

Listing data from CRMLS. Deemed reliable but not guaranteed.

Asking Price

$7,850,000

Est. Monthly Payment

$50,161/mo

20% down · 6.5% rate · 30yr

Run the Numbers

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Listing Agent

Douglas Steinriede

Dover Management Corp.