240 East Providencia Avenue

240 East Providencia Avenue

Burbank, CA 91502

$6,700,000
Price
5
Beds
16
Baths
9,841 Sq. Ft.
$681 / Sq. Ft.
9,841
Sq. Ft.
$681
per Sq. Ft.
a view of multiple houses with a street
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Description

We are proud to represent this completely renovated 15 unit apartment building in an excellent rental pocket of Burbank. The property has an excellent unit mix consisting of (12) one bedroom one bath units, (2) two bedroom one bath unit, and (1) two bedroom two bath unit. The property is situated on a 17,821 square foot lot with 100 feet of frontage on two separate assessor parcel numbers. There is an additional 153 square foot storage room that can be used as an office. The property has been completed...We are proud to represent this completely renovated 15 unit apartment building in an excellent rental pocket of Burbank. The property has an excellent unit mix consisting of (12) one bedroom one bath units, (2) two bedroom one bath unit, and (1) two bedroom two bath unit. The property is situated on a 17,821 square foot lot with 100 feet of frontage on two separate assessor parcel numbers. There is an additional 153 square foot storage room that can be used as an office. The property has been completed renovated and the renovations include new plumbing, new roof, new electrical wiring and sub panels, new heating and a/c system with new ducting, new kitchen cabinets and countertops, new bathrooms, recessed lighting, and new interior and exterior paint. All units have washer and dryers. The property is completely turn key and it is at an in place 5 cap rate with upside on existing rents. The property is located in Burbank, which is a highly desirable rental market and is known as the media capital of the world. It is home to Disney Studios, Warner Brothers, and NBC. The city has over 80 restaurants, 30 movie screens, and 200 stores; its residents enjoy top ranked schools, easy access to the 5 and 134 freeways, and close proximity to the Burbank Metro Link. The property is separately metered for gas and electricity.
  1. Listed by Cindy Hill • DRE #00885625 • Brokerage DRE #01811831 • Equity Union • 818-640-4360
  2. Listed by Ali Eghbal Ketabchi • DRE #01882586 • Brokerage DRE #01811831 • Equity Union

Property Details for 240 East Providencia Avenue

Parking Spaces Total
0
Private Pool
No
Total Units
15.0
Building Type
Attached
Lot Size Source
Assessor
Living Area
9841
Assessor Parcel Number
2453-031-008
Property Attached YN
true

Location

Listing Courtesy of Equity Union, Cindy Hill, DRE #00885625; Equity Union, Ali Eghbal Ketabchi, DRE #01882586
Add your commute
LISTING UPDATED: 04/22/2024 08:51 AM

Property Details for 240 East Providencia Avenue

StatusActive
MLS #SR24072463
Days on Market39
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1951
CountyLos Angeles County

Location

Listing Courtesy of Equity Union, Cindy Hill, DRE #00885625; Equity Union, Ali Eghbal Ketabchi, DRE #01882586
Add your commute

Building Information for 240 East Providencia Avenue

Building/Complex240 E Providencia AveFloor-Stories2Residences-Pet Policy-Year Built1951Building Size-

Payment Calculator

$38,585 per month

30 year fixed, 7.25% Interest

Principal and Interest

$36,565

Property Taxes

$2,020

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 240 East Providencia Avenue

Income / Expense / Tax Details
Income Details
  • Gross Income: $472,200
  • Gross Scheduled Income: $472,200
  • Net Operating Income: $353,851
Expense Details
  • Operating Expense: $104,183
  • Fuel Expense: $0
  • Electric Expense: $90
  • Insurance Expense: $4,500
  • Professional Management Expense: $0
  • Trash Expense: $2,600
  • Water Sewer Expense: $9,000
  • Total Expenses: $104,183
Tax / Assessment Info
  • Tax Block: 105
  • Tax Tract Number: 310...
  • Tax Census Tract: 3107.03
  • CFD/Mello-Roos Fee: $987
  • Tax Lot: 30
Community / Development
Community / Development
  • Community Features: Suburban, Urban, Valley
Property / Structure Info
Interior Features
  • Laundry: Yes
  • Laundry Features: Dryer Included, Washer Included
Exterior Features
  • Entry Location: 1
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
Land/Lot Info
  • Lot Features: Lot 10000-19999 Sqft
  • Number Of Units: 15
  • Land Lease: No
  • Land Lease Type: Fee
  • Levels: Two
  • Water: Public
  • Sewer: Public Sewer
  • Water Source: Public
Parking Info
  • Garage Spaces: 0
  • Parking Garage Spaces: 0
  • Carport Spaces: 0
Unit Information
Unit 1
  • Unit Type Units Total: 12
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $2,467
  • Unit Type Total Rent: $29,660
  • Unit Type Pro Forma: 30500
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 2
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $3,250
  • Unit Type Total Rent: $6,500
  • Unit Type Pro Forma: 6700
  • Unit Type Type: 2
Unit 3
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 2
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $3,250
  • Unit Type Total Rent: $3,250
  • Unit Type Pro Forma: 3350
  • Unit Type Type: 3
Unit Information
  • Rent Controlled: No
  • Number Of Buildings: 4
  • Number Of Separate Electric Meters: 15
  • Number Of Separate Gas Meters: 15
  • Number Of Separate Water Meters: 15

Property History for 240 East Providencia Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 240 East Providencia Avenue

Taxable ValueLand$840,000Additions$1,260,000Total$2,100,000
Tax Record2023$24,241 ($2,020 / month)
Home Facts
Total Finished SqFt4,415 SqFtAbove Grade Finished SqFt4,415 SqFtLot Size9,038 SqFtStyleMulti-Family Res (5+ Units)Year Built1951ZoningBUR4*CountyLOS ANGELESAPN2453-031-008

Schools near 240 East Providencia Avenue

This home is within Burbank Unified School District.
Rating
School
Type
Grades
Distance
Joaquin Miller Elementary School
Public - K to 5
John Muir Middle School
Public - 6 to 8
Burbank High School
Public - 9 to 12
Burbank Usd Community Day School
Public - 7 to 12
Rating
School
Distance
Joaquin Miller Elementary School
PublicK to 5

John Muir Middle School
Public6 to 8

Burbank High School
Public9 to 12

Burbank Usd Community Day School
Public7 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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More information about 240 East Providencia Avenue, Burbank, CA 91502

240 East Providencia Avenue is a multi-family home for sale in Burbank, CA 91502. This property was listed for sale on April 11, 2024 by Equity Union, it's currently listed at $6,700,000. It has been on the market for a total of 39 days and was last sold on August 18, 2022. This listing's school district is Burbank Unified School District. Nearby schools include Joaquin Miller Elementary School, John Muir Middle School and Burbank High School. 240 East Providencia Avenue is a 5-bed, 16-bath, 9,841 sqft multi-family home built in 1951.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Equity Union, Cindy Hill, DRE #00885625; Equity Union, Ali Eghbal Ketabchi, DRE #01882586

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.