271 Ash Ave Burbank, CA 91502
- Residential income homes
- 2,824 SF
Current Use by Public Records
- Residential income homes
Property Details for 271 Ash Ave
- Year built
- 1938
- Property size
- 2,824 SF
- Property type
- Residential income homes
- APN
- 2451-033-006
Description
This exceptional Burbank multifamily investment opportunity presents a well-maintained fourplex situated on a 6,944 sq ft lot. The property comprises a 3-bedroom, 1-bathroom single-family residence with a two-car garage, and three additional 1-bedroom, 1-bathroom units, each complemented by six 10x30 garages. These garages offer significant potential for additional income, perhaps as contractor spaces, storage units, or Accessory Dwelling Units (ADUs), subject to verification with the City of Burbank. Built in 1938, this Class B property boasts a total of 2,824 square feet across two buildings and two stories. Currently operating at 100% occupancy, the property generates a Net Operating Income (NOI) of $91,708, representing a 4.59% capitalization rate. Pro-forma projections indicate a potential NOI of $110,608 and a 5.53% capitalization rate. The asking price is $1,999,000, translating to $499,750 per unit and $707.86 per square foot. Located in Burbank, CA (91502), conveniently west of the 5 freeway between Alameda and Olive, this property benefits from the Burbank school district. The property is zoned BUR4. Owner financing may be available for qualified buyers. This is a stabilized investment with significant upside potential.
Value Estimation
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CAP approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Burbank
- County
- Los Angeles
- State
- California
- Longitude
- -118.30892213325
- Latitude
- 34.168170907758
