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Additional details
$10,800,000
Est. payment /mo
0.42 Acres Lot
UPDATED:
12/05/2024 05:26 AM
Key Details
Property Type Condo
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
MLS Listing ID SR24231974
HOA Y/N No
Year Built 1989
Lot Size 0.421 Acres
Property Description
We are pleased to offer for sale the Media Crest @701, a turn-key 24 units multifamily offering in the city of Burbank Ca.
Comprised of fully upgraded and remodeled units and grounds, the offering requires virtually no capital upgrade requirements and is being delivered at 12.9 grm and 5.62% cap.
Unit mix of (16) 2+2, (8) 1+1 are supplied with balconies/patios, fireplaces, dishwashers, central AC & heat, and are secured by gated parking and controlled access.
Situated in the heart of Burbank, a thriving media and entertainment hub, this property offers proximity to major studios like Warner Bros., Disney, and NBC. Burbank is known for its strong rental demand and stable real estate market, making it an excellent location for apartment investment. Directly across the street is the "Ranch Lot Development" a $500,000,000 project being completed in 2025 is comprised of 926,000 sq ft media & office space.
Burbank has a strong local economy driven by entertainment, tech, and media industries, making it a resilient market for residential real estate. The city?s ongoing development and economic growth provide a stable investment environment.
With its central location and solid demand for rentals, Media Crest @701 is poised to continue to generate consistent cash flow. It represents a safe and reliable long-term investment in a high-demand area.
Also available with sister property 520 N Hollywood Way, 20 units, if desired.
* Contact Greg Alexanian for further details, tour dates and offering memorandum *
Comprised of fully upgraded and remodeled units and grounds, the offering requires virtually no capital upgrade requirements and is being delivered at 12.9 grm and 5.62% cap.
Unit mix of (16) 2+2, (8) 1+1 are supplied with balconies/patios, fireplaces, dishwashers, central AC & heat, and are secured by gated parking and controlled access.
Situated in the heart of Burbank, a thriving media and entertainment hub, this property offers proximity to major studios like Warner Bros., Disney, and NBC. Burbank is known for its strong rental demand and stable real estate market, making it an excellent location for apartment investment. Directly across the street is the "Ranch Lot Development" a $500,000,000 project being completed in 2025 is comprised of 926,000 sq ft media & office space.
Burbank has a strong local economy driven by entertainment, tech, and media industries, making it a resilient market for residential real estate. The city?s ongoing development and economic growth provide a stable investment environment.
With its central location and solid demand for rentals, Media Crest @701 is poised to continue to generate consistent cash flow. It represents a safe and reliable long-term investment in a high-demand area.
Also available with sister property 520 N Hollywood Way, 20 units, if desired.
* Contact Greg Alexanian for further details, tour dates and offering memorandum *
Location
State CA
County Los Angeles
Area 610 - Burbank
Zoning BUR4*
Interior
Fireplace No
Laundry Common Area
Exterior
Pool None
Community Features Biking, Curbs
Private Pool No
Building
Lot Description 21-25 Units/Acre
Story 3
Sewer Private Sewer
Water Private
New Construction No
Others
Senior Community No
Tax ID 2480014021
Acceptable Financing Cash, Cash to Existing Loan, Cash to New Loan, 1031 Exchange
Listing Terms Cash, Cash to Existing Loan, Cash to New Loan, 1031 Exchange
Special Listing Condition Standard
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Listed by Levon Alexanian • Keller Williams World Media Center • info@alexanianadvisors.com
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Paul Ward
Broker Associate | License ID: 01354001
Broker Associate License ID: 01354001
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