1201 Verdugo Ave Burbank, CA 91506

Property Details for 1201 Verdugo Ave

Year built

1953

Construction

WOOD

Lot size

0.19 lot acres

Property size

4,337 SF

Zone code

BUR3*

Property type

Apartment buildings

APN

2446-030-007

APU

2446030007

Description

This exceptional five-unit apartment building presents a compelling investment opportunity in Burbank, California. Located at 1201 W Verdugo Avenue, this property boasts 4,337 square feet on an 8,304 square foot lot, zoned BUR3. Built in 1953, the two-story building features five units, each with two bedrooms and one bathroom. Three garages are included: one single-car and two two-car garages. Recent upgrades include new kitchen counters and windows. The units feature a mix of flooring, including original hardwood (except for one unit with carpeting over hardwood), ceramic tile, and vinyl tile in the kitchens. The property benefits from a new ABS sewer line and copper main water line, and the composition shingle roof is approximately 12 years old. Current rents are significantly below market value, offering substantial potential for rental income growth. The building's prime location is just one block from George Izay Park, providing convenient access to recreational amenities. Furthermore, the property enjoys proximity to the 5 and 101 freeways, enhancing its accessibility. The asking price is $1,950,000, representing a price per unit of $390,000 and a price per square foot of $449.62. The property's Net Operating Income (NOI) is $97,739, yielding a 3.92% cap rate. This is a 1031 exchange eligible property, presenting a unique opportunity for investors seeking a strong return on investment in a desirable Burbank location. The Los Angeles County Assessor's Parcel Number (APN) is 2446030007.

Location Insight

City

Burbank

County

Los Angeles

State

California

Longitude

-118.319

Latitude

34.1696

CBSA code

31080

CBSA name

LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments