231 East Burbank Boulevard

Burbank, CA 91502

$5,150,000
Price
8
Beds
16
Baths
10,596 Sq. Ft.
$486 / Sq. Ft.
10,596
Sq. Ft.
$486
per Sq. Ft.

Description

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...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.
  1. Listed by Levon Alexanian • DRE #00911091 • Brokerage DRE #01521876 • Keller Williams World Media Center • info@alexanianadvisors.com

Property Details for 231 East Burbank Boulevard

Parking Spaces Total
0
Private Pool
No
Total Units
7.0
Building Type
Attached
Lot Size Source
Assessor
Living Area
10596
Assessor Parcel Number
2460-006-060
Property Attached YN
true

Location

Listing Courtesy of Keller Williams World Media Center, Levon Alexanian, DRE #00911091
Add your commute
LISTING UPDATED: 03/18/2024 04:44 AM

Property Details for 231 East Burbank Boulevard

StatusActive
MLS #SR24054071
Days on Market42
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built2006
CountyLos Angeles County

Location

Listing Courtesy of Keller Williams World Media Center, Levon Alexanian, DRE #00911091
Add your commute

Building Information for 231 East Burbank Boulevard

Building/Complex231 E Burbank BlvdFloor-Stories3Residences-Pet Policy-Year Built2006Building Size-

Payment Calculator

$30,455 per month

30 year fixed, 7.25% Interest

Principal and Interest

$28,106

Property Taxes

$2,349

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 231 East Burbank Boulevard

Income / Expense / Tax Details
Income Details
  • Gross Income: $0
  • Gross Scheduled Income: $270,600
  • Net Operating Income: $0
Expense Details
  • Operating Expense: $72,455
  • Fuel Expense: $0
  • Electric Expense: $0
  • Insurance Expense: $0
  • Professional Management Expense: $0
  • Trash Expense: $0
  • Water Sewer Expense: $0
  • Total Expenses: $72,455
Tax / Assessment Info
  • Tax Block: 5
  • Tax Tract Number: 66340
  • Tax Census Tract: 3106.02
  • CFD/Mello-Roos Fee: $1,318
  • Tax Lot: 1
Community / Development
Community / Development
  • Community Features: Biking
Property / Structure Info
Interior Features
  • Laundry: Yes
  • Laundry Features: Inside, Washer Hookup
Exterior Features
  • Entry Location: street
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
Land/Lot Info
  • Lot Features: 6-10 Units/Acre
  • Number Of Units: 7
  • Land Lease: No
  • Land Lease Type: Fee
  • Water: Private
  • Sewer: Private Sewer
  • Water Source: Private
Parking Info
  • Garage Spaces: 0
  • Parking Garage Spaces: 0
  • Carport Spaces: 0
Unit Information
Unit 1
  • Unit Type Units Total: 2
  • Unit Type Beds Total: 3
  • Unit Type Baths Total: 3
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $7,150
  • Unit Type Total Rent: $7,150
  • Unit Type Pro Forma: 8500
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 3
  • Unit Type Baths Total: 2
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $3,850
  • Unit Type Total Rent: $3,850
  • Unit Type Pro Forma: 4350
  • Unit Type Type: 2
Unit 3
  • Unit Type Units Total: 4
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 2
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $2,888
  • Unit Type Total Rent: $11,550
  • Unit Type Pro Forma: 14440
  • Unit Type Type: 3
Unit Information
  • Rent Controlled: No
  • Number Of Buildings: 1
  • Number Of Separate Electric Meters: 8
  • Number Of Separate Gas Meters: 8
  • Number Of Separate Water Meters: 8

Property History for 231 East Burbank Boulevard

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Public Records for 231 East Burbank Boulevard

Taxable ValueLand$562,285Additions$1,863,912Total$2,426,197
Tax Record2023$28,184 ($2,349 / month)
Home Facts
Total Finished SqFt10,596 SqFtAbove Grade Finished SqFt10,596 SqFtLot Size8,312 SqFtStyleMulti-Family Res (5+ Units)Year Built2006ZoningBUR4*CountyLOS ANGELESAPN2460-006-060

Schools near 231 East Burbank Boulevard

This home is within Burbank Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Public - 7 to 12
Rating
School
Distance
Ralph Emerson 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.

Similar Homes

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231 East Burbank Boulevard is a multi-family home for sale in Burbank, CA 91502. This property was listed for sale on March 18, 2024 by Keller Williams World Media Center, it's currently listed at $5,150,000. It has been on the market for a total of 42 days and was last sold on April 1, 2002. This listing's school district is Burbank Unified School District. Nearby schools include Ralph Emerson Elementary School, John Muir Middle School and Burbank High School. 231 East Burbank Boulevard is a 8-bed, 16-bath, 10,596 sqft multi-family home built in 2006.

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 Keller Williams World Media Center, Levon Alexanian, DRE #00911091

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.