324 Santa Anita ave, Burbank, CA 91502
Active
$3,300,000
8 Units
10 Beds
8 Baths
6,001 Area(sq.ft.)
Lot: 8,978 Lot Size(sq.ft.)
| Type | # of Units | Bedroom | Bath | Furnished | Rent | Actual Rent | Projected Rent |
|---|---|---|---|---|---|---|---|
| Unit 1 | 1 | 2 | 1 | No | $ 2,400 | $ 2,400 | $ 2,800 |
| Unit 2 | 1 | 1 | 1 | No | $ 2,150 | $ 2,150 | $ 2,400 |
| Unit 3 | 1 | 1 | 1 | No | $ 2,150 | $ 2,150 | $ 2,400 |
| Unit 4 | 1 | 2 | 1 | No | $ 2,400 | $ 2,400 | $ 2,800 |
| Unit 5 | 1 | 1 | 1 | No | $ 1,714 | $ 1,714 | $ 2,400 |
| Unit 6 | 1 | 1 | 1 | No | $ 2,300 | $ 2,300 | $ 2,400 |
| Unit 7 | 1 | 1 | 1 | No | $ 2,197 | $ 2,197 | $ 2,400 |
| Unit 8 | 1 | 1 | 1 | No | $ 2,350 | $ 2,350 | $ 2,400 |
| 8 | 10 | 8 | $ 17,661 | $ 17,661 | $ 20,000 |
| MLS #: | 25548145 |
| Days On Market: | 186 |
| Listing Date: | June 3, 2025 |
| County: | Los Angeles |
| Property Type: | Residential Income |
| Price per ft2: | $ 550 |
| Price per unit: | $ 412,500 |
| Year Built: | 1957 |
Property Details
The E Santa Anita Ave Residences are an 8-unit apartment building located in a prime Burbank location just south of Glenoaks Blvd. The property has a highly desirable unit mix of two 2 BR + 1 Bath and six 1 BR + 1 Bath units. This two-story building is approximately 6,001 SF and sits on a large 8,978 SF lot. Seven of the eight units have received tasteful renovations with new stainless steel appliances, wood floors, and new vanities in the bathrooms. Current ownership has also completed several other capital improvements, including updating the electrical system. The Santa Anita Ave Residences were constructed in 1957 and are subject to AB 1482 rent control measures, allowing new ownership to raise rents approximately 8% each year. There is also a significant amount of upside in the rents, creating a quintessential value-add opportunity for new ownership. There are 8 onsite parking spots, with one of those spots being tandem. There is a garage at the rear of the property that can potentially be converted into an ADU unit. This is a wonderful opportunity to purchase a trophy multi-family asset in a prime Burbank location.Interested in this Listing?
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Income Details
| Vacancy Rate: | 6% |
| Gross Operating Income: | $ 211,932 |
| Total Annual Expense: | $ 73,250 |
| Net Operating Income: | $ 132,924 |
| Gross Annual Income: | $ 211,932 |
| Cap Rate: | 4.03% |
| Gross Rent Multiplier: | 15.53 |
Structure
| Type of Units: | Apartments |
| Buildings: | 2 |
| Levels: | Two |
Land & Parking
| Zoning: | BUR4* |
| Parking Garage: | Garage - 2 Car |
Interior
| AC/Cooling: | Central |
| Equipment: | Microwave, Range/Oven |
| Heating: | Central |
Exterior
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