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231 E Burbank Boulevard, Burbank, CA 91502

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For Sale

$5,150,000

8 beds • 7 baths • 10,596 sqft

Estimated Payment

$      /mo. †

APR for 30 years

Change Loan Terms

  • Multi-Family (2-4 Units)
    Property type

  • $486.03
    Price per square foot

  • 11-20 Years Old
    Age

Explore this Property

We are pleased to present for the very 1st time ever, the Burbank Terrace Condos. Being offered by the original developer and owner since its inception in 2006, the property can widely be considered one of the nicest assets to be built within the city. Initially developed as condominiums, the level of construction and attention to detail is of high caliber. There is currently a $1.995M assumable loan at 3.45% This unique opportunity to obtain capital at over 50% discount from the going interest rates will significantly improve cash flow and shelter against rising inflation. For additional cashflow stream, a utility billback system can easily be incorporated as well. Boasting massive unit mixes and modern luxuries such as in-unit washer dryers, fireplaces, wet bars, gated subterranean parking, intercom controlled access, and priceless views of the Verdugo Mountains, the Terraces are With a WalkScore® of 92, a "Walker's Paradise" tenant are within reach of all major shops, dining, and service options within the city. Across the street from the largest and most touted Burbank High School, vacancy has been and will continue to be historically nonexistent. As Burbank tenants and landlords alike wait patiently, the proposed old lkea site development which will be only steps away from the subject property is said to be a game changer and transformative almost to the likes of Americana and Glendale. This once-in-a-lifetime acquisition opportunity allows for multiple investment strategies. The asset is essentially rent control proof since the units are individually parceled for a potential condo sell-out exit strategy. Offering memorandum available upon request.
MLS# SR24054071

Courtesy Of Keller Williams Realty

(818) 239-3500

Property Features

  • Age
    11-20 Years Old
  • Architecture Style
    Other
  • Roof Type
    Unknown
  • Rooms
    Bedroom, Full Bath

Map and Directions

Directions to 231 E Burbank Boulevard, Burbank, CA 91502

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Copyright © 2024 California Regional Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified. Information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

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This information is provided for general informational purposes only and should not be relied on in making any home-buying decisions. School information does not guarantee enrollment. Contact a local real estate professional or the school district(s) for current information on schools. This information is not intended for use in determining a person's eligibility to attend a school or to use or benefit from other city, town or local services.

† Based on a 30-year fixed rate of 3.38% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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