10-Unit Apartment
316 E Elmwood, Burbank, CA 91502
For Sale
New
$4,750,000
The residential mix includes one-, two-, and three-bedroom layouts, with shared laundry and subterranean parking.
Property Size9,420 SF
Days on Market4
Property Features for 316 E Elmwood
General Information
Standard status
Size
Property subtype
Units
Unit Mix
Multifamily Units
Amenities
automated gate system
central HVAC
community laundry facilities
subterranean parking
Building Details
Building Size
Year Built
Listing Agency:
Better Homes and Gardens Real Estate Town Center
Listed By:
Susan Featherly · License CA #01445745
(818) 726-7007
Source:
Velocityrealtysd
Added: Nov 10
Changed: Nov 12
Last Checked: Nov 12 at 2:30PM
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 Better Homes and Gardens Real Estate Town Center
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Investment Insights
Based on property information with market context.
Built in 1989, this Burbank apartment property contains 10 homes: six one-bedroom units, two two-bedroom units, and two three-bedroom units. Building features include central HVAC, community laundry, subterranean parking, a newer roof, and an automated gate system described as newer as well.
The property is in Burbank, near shopping, dining, employment centers, and major transportation routes.
The property is in Burbank, near shopping, dining, employment centers, and major transportation routes.
Key Highlights
- 10 residential units: six one‑bedroom, two two‑bedroom, and two three‑bedroom apartments
- Central HVAC throughout the property
- Subterranean parking and community laundry facilities
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$151,575
Cap Rate
3.19%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,031,500
$3.0M
Cap Rate 7%
$2,165,357
$2.2M
Cap Rate 9%
$1,684,167
$1.7M
Market Conditions
NOI Build-Up for 9,420 SF
Gross rent
$299.6K $31.80/SF
− Vacancy
−$24.0K −$2.54/SF
EGI
$275.6K $29.26/SF
− OpEx
−$124.0K −$13.17/SF
NOI
$151.6K $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%
$3,031,500
Cap Rate 7%
$2,165,357
Cap Rate 9%
$1,684,167
Alternative Uses
Best Use
Apartment 5plus
$2.17M
$1.89M – $2.53M
NOI $151,575 @ 7.0% cap · market cap 3.19%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.84M
$3.36M – $4.48M
NOI $269,035 @ 7.0% cap · market cap 5.66%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Lease Details
10
Residential units
Location Intelligence
Trade Area within ½ mile
3,875
Businesses Nearby
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Business Placement
Demographics for 91502, CA
11,665
Population
5,734
Households
2
Avg Household Size
39
Median Age
43%
College-Educated
87%
High-School Grad
1.3 sq mi
ZIP Area
8,973
Density / Sq Mi
$61,443
Median Household Income
$46,046
Median Earnings
$1,899
Median Rent
$946,600
Median Home Value
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Market
Properties on Market for Apartment buildings in Burbank
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - The residential mix includes one-, two-, and three-bedroom layouts, with shared laundry and subterranean parking.
Where is this apartment building located?
The property is located at 316 E Elmwood Burbank, CA.
What is the asking price?
The asking price for this property is $4,750,000.
What are key features of this property?
This property features: 10 residential units: six one‑bedroom, two two‑bedroom, and two three‑bedroom apartments; Central HVAC throughout the property; Subterranean parking and community laundry facilities
