18-Unit Apartment
New
For Sale
$5,390,000
12344 Burbank, Valley Village, CA 91607
Most apartments have been remodeled, and residents have access to an on-site laundry facility.
Property Size17,722 SF
Lot Size0.37 Acres
Price / SF$304.14
Days on Market7
Property Features for 12344 Burbank
General Information
Standard status
Active
Size
17,722 SF
Lot size
0.37 Acres
Property subtype
Apartment
Units
Unit Mix
7 x 1BR/1BA, 1 x 2BR/1BA, 5 x 2BR/2BA, 5 x 3BR/2BA
Multifamily Units
18
Amenities
swimming pool
on-site laundry
Building Details
Building Size
17,722 SF
Year Built
1959
Listing Agency:
Keller Williams Realty-Studio City
Listed By:
Anthony Boyajian · License #01877967
(818) 324-7639
Source:
Truthrealty
Added: Oct 20
Changed: Oct 25
Last Checked: Oct 25 at 1:40AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Keller Williams Realty-Studio City
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Investment Insights
Based on property information with market context.
This 18-unit apartment property contains approximately 17,722 square feet of building area on a 16,016-square-foot lot. The unit mix comprises seven one-bedroom/one-bathroom apartments, one two-bedroom/one-bathroom apartment, five two-bedroom/two-bathroom apartments, and five three-bedroom/two-bathroom apartments. Sixteen units have been remodeled. Property improvements include copper plumbing, upgraded electrical subpanels throughout, a completed soft-story seismic retrofit, newer windows, and a roof approximately three years old. The swimming pool has also been renovated, and residents have access to on-site laundry.
The property occupies the southwest corner of Burbank Boulevard and Corteen Place in Valley Village, California. Seven apartments currently operate under an alternative rental model.
The property occupies the southwest corner of Burbank Boulevard and Corteen Place in Valley Village, California. Seven apartments currently operate under an alternative rental model.
Key Highlights
- 18 apartments: seven 1‑bedroom/1‑bathroom, one 2‑bedroom/1‑bathroom, five 2‑bedroom/2‑bathroom, and five 3‑bedroom/2‑bathroom units
- Approximately 17,722 square feet of building area on a 16,016‑square‑foot lot
- 16 of the 18 apartments have been remodeled
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$285,161
Cap Rate
5.29%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,703,220
$5.7M
Cap Rate 7%
$4,073,729
$4.1M
Cap Rate 9%
$3,168,456
$3.2M
Market Conditions
NOI Build-Up for 17,722 SF
Gross rent
$563.6K $31.80/SF
− Vacancy
−$45.1K −$2.54/SF
EGI
$518.5K $29.26/SF
− OpEx
−$233.3K −$13.17/SF
NOI
$285.2K $16.09/SF
Area
Los Angeles County, CA
Vacancy
8.00%
Lease Rate
$31.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,703,220
Cap Rate 7%
$4,073,729
Cap Rate 9%
$3,168,456
Alternative Uses
Best Use
Apartment 5plus
$4.07M
$3.56M – $4.75M
NOI $285,161 @ 7.0% cap · market cap 5.29%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$9.49M
$8.30M – $11.07M
NOI $664,180 @ 7.0% cap · market cap 12.32%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
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Open Analytics
Lease Details
18
Residential units
Location Intelligence
Trade Area within ½ mile
1,724
Businesses Nearby
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Business Placement
Demographics for 91607, CA
30,502
Population
14,597
Households
2.1
Avg Household Size
38
Median Age
52%
College-Educated
94%
High-School Grad
2.5 sq mi
ZIP Area
12,201
Density / Sq Mi
$84,925
Median Household Income
$50,970
Median Earnings
$1,998
Median Rent
$1,019,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Most apartments have been remodeled, and residents have access to an on-site laundry facility.
Where is this apartment building located?
The property is located at 12344 Burbank Valley Village, CA.
What is the asking price?
The asking price for this property is $5,390,000.
What are key features of this property?
This property features: 18 apartments: seven 1‑bedroom/1‑bathroom, one 2‑bedroom/1‑bathroom, five 2‑bedroom/2‑bathroom, and five 3‑bedroom/2‑bathroom units; Approximately 17,722 square feet of building area on a 16,016‑square‑foot lot; 16 of the 18 apartments have been remodeled
