198 West Elmwood Burbank, CA 91502
UPDATED:
Key Details
Property Type Single Family Home
Sub Type Commercial/Residential
Listing Status Active
Purchase Type For Sale
Square Footage 4,804 sqft
Price per Sqft $498
MLS Listing ID GD-26010495
Year Built 1953
Lot Size 7,513 Sqft
Property Sub-Type Commercial/Residential
Source California Regional Multiple Listing Service (CRMLS)
Property Description
Located in the highly desirable City of Burbank — subject to AB 1482 with higher allowable annual rental increases than the City of Los Angeles — this pride-of-ownership six-unit multifamily property presents an exceptional value-add investment opportunity with approximately 18%+ rental upside.
The property consists of six spacious 2-bedroom, 1-bath units, each featuring bright living rooms, well-sized kitchens with dining areas, generous bedrooms, and ample closet space. The building has been well maintained and includes a newer roof, partial copper plumbing, six covered parking spaces, and an on-site laundry room with owned machines. The property is separately metered for gas and electricity.
Ideally situated less than one mile from Downtown Burbank, tenants enjoy convenient access to shopping, dining, cafés, entertainment, and the Burbank Town Center. The property is also in close proximity to major employment hubs including Walt Disney Studios, Warner Bros., and the city's thriving media and technology sector, as well as award-winning Burbank schools.
Commuters benefit from excellent freeway access to the 5, 134, and 2, providing direct connectivity to Glendale, Pasadena, Eagle Rock, Downtown Los Angeles, and the San Fernando Valley.
This offering represents a rare opportunity to acquire a stable, well-located multifamily asset in one of Los Angeles County's most resilient and supply-constrained rental markets.
Financial Highlights (Based on New Tax Basis):
• 4.9% Cap Rate | 14.79 GRM at Current Rents
• 5.7% Pro Forma Cap Rate | 13.0 Pro Forma GRM
Location
State CA
County Los Angeles
Area 610 - Burbank
Interior
Interior Features Ceiling Fan(s)
Heating Wall Furnace
Flooring Laminate, Tile, Wood
Fireplaces Type None
Inclusions 6 stoves, 4 frig, 3 dishwasher
Laundry Common Area
Exterior
Parking Features Carport
Garage Spaces 6.0
Pool None
Community Features Sidewalks
Utilities Available Sewer Connected, Water Connected, Electricity Connected
View Y/N Yes
View Trees/Woods, See Remarks
Building
Lot Description Front Yard, Sprinkler System
Sewer Public Sewer
Nearby Locations
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