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Property profile & analytics
OFF-MARKET
Estimated value
$11,015,000
Apartment buildings
2611 Olive Ave Burbank, CA 91505-4566
Entity Owned
2-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-9507248
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1959
Construction
WOOD
Total area
15,927 SF
Lot
0.36 ac (15,754 SF)
Zoning code
BUC3YY
APN
2484-018-005
UPID
US09-9507248
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Hotel olive Hotel & Motel
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$11.02M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$11.02M
Owner & transaction history
Thayer Units LLC · 2 yrs held
Thayer Units LLC
since 2024
Last sale
$11.0M
7 recorded transactions
Zoning & alternative use
BUC3YY · Burbank, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$12.5M
+124.1%
Restaurant
$10.4M
+85.3%
Neighborhood: shopping center
$9.7M
+73.1%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Burbank submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Burbank submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$11,015,000
ML approach
$11,015,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
AUTO REPAIR, GARAGE
$12,545,000
Change: +124% · Conversion: Difficult
RESTAURANT
$10,370,000
Change: +85% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$9,695,000
Change: +73% · Conversion: Difficult
RETAIL STORES
$8,755,000
Change: +56% · Conversion: Difficult
OFFICE BUILDING
$8,505,000
Change: +52% · Conversion: Moderate
WAREHOUSE, STORAGE
$7,900,000
Change: +41% · Conversion: Difficult
COMMERCIAL (GENERAL)
$7,645,000
Change: +37% · Conversion: Moderate
Blend value · Realmo final
$11.02M
Range $9.91M – $12.12M · ±10% · vs last sale $11.02M (Feb 21 2024)
Last sale anchor
$11.02M
Feb 21 2024
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$692 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$9,991
Tax year 2024
Assessed value
$697,783
Assessed 2024
Previous assessed
$697,783
+0.0% YoY
Effective rate
1.43%
On assessed value
Assessed land
$112,461
Assessed improvement
$585,322
Applied tax rate
2.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Status
Off-Market
Year built
1959
Construction
WOOD
Heating
NONE
Cooling
CENTRAL
Units
39
Total area
15,927 SF
Lot
0.36 ac (15,754 SF)
Zoning code
BUC3YY
APN
2484-018-005
UPID
US09-9507248
Jurisdiction
LOS ANGELES
Metro division
LOS ANGELES-LONG BEACH-GLENDALE, CA METROPOLITAN DIVISION
Zoning & alternative use
BUC3YY · Burbank, CAZoning BUC3YY · permitted uses
BUC3YY · Burbank, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
AUTO REPAIR, GARAGE
Est. value
$12.5M
RESTAURANT
Est. value
$10.4M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$9.7M
RETAIL STORES
Est. value
$8.8M
OFFICE BUILDING
Est. value
$8.5M
WAREHOUSE, STORAGE
Est. value
$7.9M
COMMERCIAL (GENERAL)
Est. value
$7.6M
AUTO REPAIR, GARAGE
RESTAURANT
NEIGHBORHOOD: SHOPPING CENTER
RETAIL STORES
OFFICE BUILDING
WAREHOUSE, STORAGE
COMMERCIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1959
Construction
WOOD
Heating
NONE
Cooling
Yes
Units
39
Lot
0.36 ac
Current owner
From public records · entity-resolved
Thayer Units LLC
Entity
Mailing address
9461 CHARLEVILLE BLVD #570, BEVERLY HILLS, CA 90212-3017
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 4, 2025
—
Thayer Units LLC
—
Deed
related
$10,560,000 · Northmarq Capital Finance LLC
Feb 21, 2024
$11,015,000
Thayer Units LLC
Burbank On Olive Properties LLC
Grant Deed
$8,261,250 · Frank R Warren & Joanne C Warren Tr
Apr 6, 2023
—
Burbank On Olive Properties LLC
—
Deed
related
$1,000,000 · The Frank R Warren And Joanne C Warren T
May 15, 2020
—
Burbank On Olive Prop LLC
Warren F R & J C Trust
Quit Claim Deed
related
—
Oct 3, 2019
—
Burbank On Olive Prop LLC
Warren Family LP
Quit Claim Deed
—
Apr 6, 2016
—
Warren,frank R & J C Trust
Warren Frank R & J C Trust
Quit Claim Deed
related
—
Jun 9, 2014
—
Joanne C Warren
Warren,frank R
Affidavit Of Death
related
—
Dec 22, 2011
—
J & J Cohen Properties LLC
Cohen Joel M & J W Trust
Quit Claim Deed
—
Dec 10, 1992
—
Cohen Joel M Co Tr
—
Deed Of Trust
related
—
Sep 23, 1958
—
—
—
Grant Deed
related
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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