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$ 5,694,000
Est. payment /mo
Price Dropped by $1K
252 W Elm AVE Burbank, CA 91502
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
MLS Listing ID SR25053862
HOA Y/N No
Year Built 1960
Lot Size 0.301 Acres
Property Sub-Type Mixed Use
Property Description
We are pleased to present the opportunity to acquire Elm Gardens, a stabilized 16-unit multifamily property located in the highly sought-after Rancho Adjacent submarket of Burbank. Ideally positioned near major landmarks and entertainment hubs, Elm Gardens offers a quality living experience in one of Los Angeles' most desirable rental markets. Originally constructed in 1960, the property sits on a 13,097 SF lot and features a building footprint of 11,589 SF, zoned BUR4.
Elm Gardens presents an exceptional opportunity to acquire a stabilized asset in Burbank's high-demand rental market, with further potential for value-add opportunities through tenant repositioning. Under current ownership, approximately 14 out of the 16 units have undergone various levels of updates, making this property an attractive option for investors seeking a stabilized investment with room for additional improvements. The property is not subject to local rent control but adheres to California's AB1482 Rent Control guidelines, offering a balanced regulatory environment. Burbank's status as the “Media Capital of the World” ensures strong demand for rental properties, and Elm Gardens benefits from its proximity to major entertainment studios, businesses, and transit routes. With 80% of its units featuring two-bedroom layouts, Elm Gardens appeals to a diverse range of tenants, including families and professionals. The property also offers key amenities such as a pool, parking, laundry room, and immediate access to the Burbank Channel Bikeway.
Elm Gardens is ideally located in Burbank's Rancho Adjacent submarket, one of the most desirable neighborhoods in the entertainment capital of the world. The property is just minutes from major entertainment studios and industry landmarks, offering significant appeal to professionals in the media and entertainment sectors. The surrounding area boasts upscale businesses, trendy restaurants, and boutiques, creating an attractive living and working environment. Conveniently located near the 134 and 5 Freeways, Elm Gardens offers unparalleled transit access, allowing residents and commuters easy connections to all areas of Los Angeles. With Burbank's constrained rental market and continued demand driven by the media industry, Elm Gardens represents an exceptional opportunity to secure a well-located, income-generating asset in one of the city's most coveted locations.
Elm Gardens presents an exceptional opportunity to acquire a stabilized asset in Burbank's high-demand rental market, with further potential for value-add opportunities through tenant repositioning. Under current ownership, approximately 14 out of the 16 units have undergone various levels of updates, making this property an attractive option for investors seeking a stabilized investment with room for additional improvements. The property is not subject to local rent control but adheres to California's AB1482 Rent Control guidelines, offering a balanced regulatory environment. Burbank's status as the “Media Capital of the World” ensures strong demand for rental properties, and Elm Gardens benefits from its proximity to major entertainment studios, businesses, and transit routes. With 80% of its units featuring two-bedroom layouts, Elm Gardens appeals to a diverse range of tenants, including families and professionals. The property also offers key amenities such as a pool, parking, laundry room, and immediate access to the Burbank Channel Bikeway.
Elm Gardens is ideally located in Burbank's Rancho Adjacent submarket, one of the most desirable neighborhoods in the entertainment capital of the world. The property is just minutes from major entertainment studios and industry landmarks, offering significant appeal to professionals in the media and entertainment sectors. The surrounding area boasts upscale businesses, trendy restaurants, and boutiques, creating an attractive living and working environment. Conveniently located near the 134 and 5 Freeways, Elm Gardens offers unparalleled transit access, allowing residents and commuters easy connections to all areas of Los Angeles. With Burbank's constrained rental market and continued demand driven by the media industry, Elm Gardens represents an exceptional opportunity to secure a well-located, income-generating asset in one of the city's most coveted locations.
Location
State CA
County Los Angeles
Area 610 - Burbank
Zoning BUR4*
Interior
Fireplace No
Laundry Laundry Room
Exterior
Pool Private
Community Features Sidewalks
Total Parking Spaces 16
Private Pool Yes
Building
Lot Description Cul-De-Sac
Story 2
Sewer Public Sewer
Water Public
New Construction No
Others
Senior Community No
Tax ID 5625014010
Acceptable Financing Cash, Cash to New Loan, 1031 Exchange
Listing Terms Cash, Cash to New Loan, 1031 Exchange
Special Listing Condition Standard
Virtual Tour https://youtu.be/H3PhGFuV7-0?si=6l7h_zr3nhh8hi7e
Listed by Jared Levine • Keller Williams Realty Calabasas • jared@jaredmlevine.com
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