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    242 N Cordova St Burbank, CA 91505

    View on Map
    Sponsored
    For Sale
    $995,000

    MULTI_FAMILY - Burbank, CA

    Property size:
    2,320 SF
    Lot size:
    0.15 Acres
    Days on Market:
    2
    Last Refresh:
    Mar 24 at 11:06 am

    Property Features for 242 N Cordova St

    General Information

    Special listing conditions
    Standard
    Property type
    Residential Multi Family
    Property subtype
    Other
    TransactionType
    Standard
    Standard status
    Active
    Zoning
    BUR4*
    Rooms
    Bedroom 4, Bedroom 3, Bathroom 3, Bedroom 1, Bathroom 2, Bedroom 2, Bathroom 1
    Bedrooms
    4
    Bathrooms
    3
    APN
    2483-014-002
    Parking
    3
    Parking features
    Garage
    Size
    2,320 SF
    Lot size
    0.15 Acres

    Utilities

    Cooling system
    Wall/Window Unit(s)

    Building Details

    Year built
    1949
    Floors in Building
    1
    Number of units
    3

    We can help!

    Listing Contact
    Kenny Stevens

    Compass

    Listing agent Kenny Stevens License #01090251

    Listing date Mar 23, 2026

    MLS# 26668651

    Copyright © 2026 The MLS/CLAW. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Burbank Triplex in Media District

    Located in the heart of Burbank's Media District, 242 N. Cordova St. is a triplex positioned in a quiet residential area just north of the 134 Freeway, approximately 0.6 miles from Los Angeles' entertainment employment hubs. Major studios, including Warner Bros., Walt Disney Studios, and ABC Television, are located nearby. The Media District is evolving with a growing mix of restaurants, coffee shops, and neighborhood retail. The property is also near the Burbank Portfolio, a 3.2M+ SF collection of Class A office buildings owned by Blackstone and Worthe Real Estate Group, housing major tenants such as Warner Bros., Disney, Legendary, and CBS Interactive. The property is comprised of three one-bedroom units arranged in a low-density, bungalow-style layout that emphasizes privacy, separation, and a residential living experience. Set along a tree-lined street, the property blends into its surrounding neighborhood, with mature landscaping, open lawn space, and spacing between units. At the rear of the property is a detached structure featuring three individual one-car garages, along with additional driveway and surface parking. The garage configuration may present future ADU potential, subject to buyer verification. Additional amenities include a private front lawn and shared outdoor areas. The units are separately metered for gas and electricity. The property is fully occupied, offering stable in-place income while presenting a clear path to future rent growth. The lot size is 0.152 acres and the property size is 2320 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Triplexes

    Suggested Use

    Restaurant Law Firm Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Burbank
    County
    Los Angeles
    State
    California
    Longitude
    -118.339782
    Latitude
    34.156141

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    FAQs

    What type of property is this?
    Triplex - Triplex in Burbank's Media District with income and growth potential.
    Where is this triplex located?
    The property is located at 242 N Cordova St Burbank, CA.
    What is the asking price?
    The asking price for this property is $995,000.
    What are key features of this property?
    This property features: - Prime location in Burbank's Media District, near major studios and the Burbank Portfolio.; - Significant rental upside (approx. 72%), projecting a 5.70% CAP rate and 12.19 GRM at market rents.; - Stable in-place income with fully occupied units.
    (310) 230-5478
    Request Owner's contact information
    242 N Cordova St Burbank, CA 91505
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    Burbank, CA 91505
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    242 N Cordova St Burbank, CA 91505
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    Listing Contact
    Kenny Stevens
    Real Estate License ID: 01090251
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