2924 West Riverside Drive

Burbank, CA 91505

$2,295,000
Price
6
Beds
6
Baths
3,449 Sq. Ft.
$665 / Sq. Ft.
3,449
Sq. Ft.
$665
per Sq. Ft.

Description

Welcome to 2924 West Riverside Drive, Burbank, CA! This property offers a remarkable opportunity for those seeking a prime investment in the heart of Burbank. In the sought-after Rancho District, this property boasts a total of 6 units (each its own bungalow with month-to-month tenants). This 3449 square foot gem is a rare find in today's market; each unit features one bedroom and one bathroom private casita, providing comfortable, convenient, and private living spaces for tenants. The property sits...Welcome to 2924 West Riverside Drive, Burbank, CA! This property offers a remarkable opportunity for those seeking a prime investment in the heart of Burbank. In the sought-after Rancho District, this property boasts a total of 6 units (each its own bungalow with month-to-month tenants). This 3449 square foot gem is a rare find in today's market; each unit features one bedroom and one bathroom private casita, providing comfortable, convenient, and private living spaces for tenants. The property sits on a generous lot of almost 12k sq ft lot, offering ample outdoor space. Two 2-car garages add further value to the property, presenting the potential for additional dwelling units (ADUs) or providing secure parking for tenants. Conveniently located in Burbank, residents will enjoy easy access to a wide array of amenities, entertainment, and dining options including walking distance to Disney and WB Studios, Rancho Equestrian Facilities, and the Toluca Village. The bustling city of Burbank provides a vibrant backdrop for this property, with its thriving community and proximity to major attractions. Investors and homeowners alike will be drawn to the potential of this property, whether seeking a solid rental income or the opportunity to customize the space to their liking. Don't miss out on this chance to own a piece of prime real estate in Burbank. With its desirable location, spacious lot, and potential for expansion, 2924 West Riverside Drive is an exceptional opportunity not to be missed. Schedule a viewing today and explore the possibilities that this property has to offer!

Listing Agents

  1. Craig Strong

    Craig Strong

    Listing Agent

    Compass

    DRE #01450987

  2. Kristin Neithercut

    Kristin Neithercut

    Alternative Listing Agent

    Compass

    DRE #02003278

Property Details for 2924 West Riverside Drive

Water Front
None
Zoning
BUR4*
Style
Garden Home
Parcel Number
2485029019
Total Units
6.0
Living Area
3449
Source Living Area
Assessor
Area
Burbank (610)

Location

Listing Courtesy of Compass, Craig Strong, DRE #01450987; Compass, Kristin Neithercut, DRE #02003278
Add your commute
LISTING UPDATED: 04/18/2024 09:44 PM

Property Details for 2924 West Riverside Drive

StatusActive
MLS #24-347833
Days on Market103
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1939
Lot Size0.27 AC / 11,771 SF
CountyLos Angeles County

Location

Listing Courtesy of Compass, Craig Strong, DRE #01450987; Compass, Kristin Neithercut, DRE #02003278
Add your commute

Building Information for 2924 West Riverside Drive

Stories1Residences-Year Built1939Building Size-Lot Size0.27 AC / 11,771 SF

Payment Calculator

$12,732 per month

30 year fixed, 7.25% Interest

Principal and Interest

$12,525

Property Taxes

$207

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 2924 West Riverside Drive

Community / Development
Community / Development
  • Tax Mello Roos: No
  • Number Of Units: 6
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Assessor
  • Number Of Stories: 1
  • Number Of Buildings: 3
  • Type Of Units: Bungelows
  • View: Yes
  • View Description: Walk Street
  • Entry Floor Number: 1
  • Property Condition: Repair Cosmetic
  • Water: Public
  • Sewer: In Street
  • Water Heaters: Yes
  • Water Heater Features: Multi-Tank
Contract Info
Contract Info
  • Probate: No
  • Disclosures: As Is, Trust/Conservatorship
  • Listing Type: Exclusive Agency
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Scheduled
  • Gross Operating Income: $159,192
  • Net Operating Income: $110,315.00
  • Gross Income: $160,800
  • Cap Rate: 4.50%
  • Gross Rent Multiplier: $15.21
  • Owner Pays: Gardener, Water
  • Total Annual Expense: 48877
Land / Lot Info
Land / Lot Info
  • Additional Parcel Number: No
  • Alley: No
  • Paved: Yes
  • Lot Acreage: 0.2702
  • Lot Size Square Feet: 11771
  • Lot Features: Landscaped
  • Lot Description: Lot-Level/Flat, Landscaped, Sidewalks, Walk Street
  • Lot Location: Flats, Park Nearby
Parking Details
Parking Details
  • Parking Garage: Attached, Carport Attached, Covered Parking, Detached, Parking Space, Garage Is Attached, Garage Is Detached, Garage - 4+ Car, Garage, Private Garage
  • Total Parking: 6
  • Covered Parking: 5
  • Open Other Spaces Total: 1
  • Garage Spaces Total: 4
  • Carport Spaces Total: 1
  • Parking Features: Attached Carport, Covered, Parking Space, Garage, Private
  • Attached Garage: Yes
  • Garage Structures Total: 4.0
Interior Features
Interior Features
  • Rooms: Dining Area
  • Levels: One
  • Den: No
  • Family Room: 0
  • Dining Room: 0
  • Cooling Type: Window Unit(s)
  • Heating Type: Wall Gas
  • Flooring: Hardwood, Laminate, Tile
  • Equipment: Ceiling Fan, Gas Dryer Hookup, Range/Oven
  • Interior Features: Ceiling Fan(s)
  • Room Kitchen Features: Tile Counters
  • Kitchen Features: Tile Counters
  • Room Bathroom Features: Shower
  • Bathroom Features: Shower Stall
  • Bedroom Features: Main Floor Bedroom
  • Common Walls: Attached
  • Laundry: In Unit, Other
Exterior Features
Exterior Features
  • Pool: No
  • Private Pool: No
  • Pool Description: None
  • Pool Features: None
  • Spa: No
  • Spa: None
  • Tennis: No
  • Tennis Court: None
  • Roof: Composition, Shingle
  • Sprinklers: Sprinkler System
  • Entry Location: Ground Level w/steps
  • New Construction: No
  • Construction Materials: Stucco
  • Exterior Construction: Stucco
  • Foundation Details: Raised
  • Other Structures: Other
Lease Terms
Lease Terms
  • Entry Date: 01-16-2024
  • Rent Control: No
  • Tenant Pays: Cable TV, Electricity, Gas, Insurance, Trash Collection
Unit Details
Unit 1 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,849.00
  • Unit Actual Rent: $1,849.00
  • Unit Projected Rent: $2,300.00
  • Like Units: 1
Unit 2 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,740.00
  • Unit Actual Rent: $1,740.00
  • Unit Projected Rent: $2,300.00
  • Like Units: 1
Unit 3 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,154.00
  • Unit Actual Rent: $2,154.00
  • Unit Projected Rent: $2,300.00
  • Like Units: 1
Unit 4 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,795.00
  • Unit Actual Rent: $3,590.00
  • Unit Projected Rent: $2,100.00
  • Like Units: 2
Unit 5 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,700.00
  • Unit Actual Rent: $1,700.00
  • Unit Projected Rent: $2,300.00
  • Like Units: 1
Unit Details
  • Unit Type Type: 2106, 2107, 2108, 2109, 2110
  • Number of Disposal: 6
  • Number of Electric Meters: 6
  • Number of Gas Meters: 6
  • Number Leased: 6
  • Number Range: 6
  • Number Rented Garages: 4
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $79,858.00
  • Assessed Improvement Percent: 54.68
  • Assessed Land Value: $66,186.00
  • Assessed Land Percent: 45.32
  • Assessed Total Value: $146,044.00

Property History for 2924 West Riverside Drive

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Public Records for 2924 West Riverside Drive

Taxable ValueLand$66,186Additions$82,408Total$148,594
Tax Record2023$2,488 ($207 / month)
Home Facts
Total Finished SqFt3,449 SqFtAbove Grade Finished SqFt3,449 SqFtLot Size11,767 SqFtStyleMulti-Family Res (5+ Units)Year Built1939ZoningBUR4*CountyLOS ANGELESAPN2485-029-019

Schools near 2924 West Riverside Drive

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
R. L. Stevenson Elementary School
PublicK to 5

David Starr Jordan Middle School
Public6 to 8

John Burroughs High School
Public9 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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Similar Sold Homes

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2924 West Riverside Drive is a multi-family home for sale in Burbank, CA 91505. This property was listed for sale on January 16, 2024 by Compass, it's currently listed at $2,295,000. This listing's school district is Burbank Unified School District. Nearby schools include R. L. Stevenson Elementary School, David Starr Jordan Middle School and John Burroughs High School. 2924 West Riverside Drive is a 6-bed, 6-bath, 3,449 sqft multi-family home built in 1939.

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 Compass, Craig Strong, DRE #01450987; Compass, Kristin Neithercut, DRE #02003278

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.