19
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$2,700,000
Est. payment /mo
4 Beds
4 Baths
10,603 Sqft Lot
Active
1700 Grismer Avenue Burbank, CA 91504
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Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID BB25062782
Bedrooms 4
HOA Y/N No
Lot Size 10,603 Sqft
Property Sub-Type Res Income 2-4 Units
Property Description
This is an incredible value-add opportunity situated in a highly desirable area of Burbank. Boasting a generous 10,603 sq. ft. lot, this property offers significant development potentialpossibility to build up to 10 units, subject to verification and approval by the City of Burbank. Buyers are encouraged to conduct their own due diligence with the city to explore the full scope of development options. Currently, the property features six well-maintained residential units, thoughtfully distributed across three separate garden-style buildings. The unit mix includes: Three (3) units with 1 bedroom and 1 bathroom, and Three (3) units with 2 bedrooms and 1 bathroom. Each unit offers a comfortable and functional living space, and five out of six units are equipped with central heating and air conditioning for year-round comfort. The interiors have been meticulously maintained, reflecting pride of ownership, and several long-term tenants add stability to this income-producing asset. Parking accommodations include a 4-car carport and three uncovered parking spaces, offering a total of 7 on-site parking spots. A coin-operated laundry area, conveniently located within one of the carports, provides additional income potential and convenience for tenants. Notably, the last two units were originally one large single-family residence that has been divided into two separate unitsthis alteration may have been done without permits, and buyers should investigate accordingly. To enhance the appeal, the seller is offering seller financing, and is willing to carry the first trust deed with 40%
This is an incredible value-add opportunity situated in a highly desirable area of Burbank. Boasting a generous 10,603 sq. ft. lot, this property offers significant development potentialpossibility to build up to 10 units, subject to verification and approval by the City of Burbank. Buyers are encouraged to conduct their own due diligence with the city to explore the full scope of development options. Currently, the property features six well-maintained residential units, thoughtfully distributed across three separate garden-style buildings. The unit mix includes: Three (3) units with 1 bedroom and 1 bathroom, and Three (3) units with 2 bedrooms and 1 bathroom. Each unit offers a comfortable and functional living space, and five out of six units are equipped with central heating and air conditioning for year-round comfort. The interiors have been meticulously maintained, reflecting pride of ownership, and several long-term tenants add stability to this income-producing asset. Parking accommodations include a 4-car carport and three uncovered parking spaces, offering a total of 7 on-site parking spots. A coin-operated laundry area, conveniently located within one of the carports, provides additional income potential and convenience for tenants. Notably, the last two units were originally one large single-family residence that has been divided into two separate unitsthis alteration may have been done without permits, and buyers should investigate accordingly. To enhance the appeal, the seller is offering seller financing, and is willing to carry the first trust deed with 40% down payment for a term of two years, with competitive interest rates. This is a rare chance to secure a valuable investment with favorable financing terms. Offers are subject to inspection
This is an incredible value-add opportunity situated in a highly desirable area of Burbank. Boasting a generous 10,603 sq. ft. lot, this property offers significant development potentialpossibility to build up to 10 units, subject to verification and approval by the City of Burbank. Buyers are encouraged to conduct their own due diligence with the city to explore the full scope of development options. Currently, the property features six well-maintained residential units, thoughtfully distributed across three separate garden-style buildings. The unit mix includes: Three (3) units with 1 bedroom and 1 bathroom, and Three (3) units with 2 bedrooms and 1 bathroom. Each unit offers a comfortable and functional living space, and five out of six units are equipped with central heating and air conditioning for year-round comfort. The interiors have been meticulously maintained, reflecting pride of ownership, and several long-term tenants add stability to this income-producing asset. Parking accommodations include a 4-car carport and three uncovered parking spaces, offering a total of 7 on-site parking spots. A coin-operated laundry area, conveniently located within one of the carports, provides additional income potential and convenience for tenants. Notably, the last two units were originally one large single-family residence that has been divided into two separate unitsthis alteration may have been done without permits, and buyers should investigate accordingly. To enhance the appeal, the seller is offering seller financing, and is willing to carry the first trust deed with 40% down payment for a term of two years, with competitive interest rates. This is a rare chance to secure a valuable investment with favorable financing terms. Offers are subject to inspection
Location
State CA
County Los Angeles
Area Burbank (91504)
Zoning Assessor
Interior
Cooling Central Forced Air
Exterior
Roof Type Composition
Building
Lot Description Sidewalks
Story 1
Lot Size Range 7500-10889 SF
Level or Stories 1 Story
Others
Monthly Total Fees $74
Space Rent $2,032
Listed by Joyce Starleaf • Equity Union