140 N Pass Ave new Save Request In-Person Tour Request Virtual Tour
Burbank,CA 91505
Key Details
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 4,077 sqft
Price per Sqft $588
MLS Listing ID 25555629
Style Contemporary Mediterranean
Bedrooms 6
Construction Status Updated/Remodeled
Year Built 1941
Lot Size 5,691 Sqft
Acres 0.1306
Property Sub-Type Multi-Family
Property Description
Exceptional Investment Opportunity in the Heart of Burbank. This well-maintained 5-unit property features a desirable front owner's unit and a two-story rear building with four additional rental units. Amenities include five garage parking spaces, one uncovered parking spot, and an on-site laundry room, ideal for both tenant convenience and additional income potential. Perfectly located near Warner Bros. and NBC Studios and just 15 minutes from Universal Studios. The front unit is a prime candidate for Airbnb or short-term rentals, offering significantly higher revenue compared to traditional annual leasing. The property underwent extensive renovations in 2022 and 2023, including a new roof on units and garages and new dual-pane windows in most units (except one). The current leases remain in place through August 31, 2025, the owner unit's rent based on AirBNB income, at which time rents can be adjusted by California's rent control guidelines. Bonus income potential: The new owner can increase revenue through separate charges for garage parking and storage. With rent increases taking effect, coupled with low building expenses and minimal maintenance, this property has the potential to achieve a cap rate exceeding 5.5%.
Location
State CA
County Los Angeles
Area Burbank
Zoning BUR4*
Rooms
Other Rooms None
Dining Room 0
Kitchen Tile Counters
Interior
Interior Features Crown Moldings, Laundry - Closet Stacked
Heating Natural Gas
Cooling Window Unit(s)
Flooring Laminate
Fireplaces Type Bath, Kitchen, Living Room, Primary Bedroom
Equipment Cable, Garbage Disposal, Range/Oven, Refrigerator
Laundry Laundry Closet Stacked, In Unit, Community
Exterior
Parking Features Garage - 1 Car, Garage - 2 Car, Parking Space, On street
Garage Spaces 6.0
Pool None
Amenities Available None
Waterfront Description None
View Y/N Yes
View City
Roof Type Composition, Shingle
Handicap Access None
Building
Lot Description Lot Shape-Rectangular, Single Lot
Story 2
Sewer In Street Paid
Water Water District, District
Architectural Style Contemporary Mediterranean
Level or Stories Two
Structure Type Stucco
Construction Status Updated/Remodeled
Others
Special Listing Condition Standard