Burbank Multifamily Broker: 14 Closings, $39.1M
Glen Scher, Morgan Wetmore and the LAAA Team of Marcus & Millichap have closed 14 Burbank sales totaling $39.1M since 2015: 11 apartment sales averaging $369,756 per unit and a 4.01% cap rate on the 11 with a rate recorded. Figures from the team's closed transactions as of October 2026; repeat sales of an address count separately.
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Transactions
$39.1M
Total Volume
4.01%
Avg Cap Rate
$369,756
Avg $/Unit
9
Avg Units
2015
First Local Closing
Cap rate, price per unit and unit count are averaged across apartment sales only: 11 of these 14 closed transactions are apartment sales.
LAAA Team Track Record Since 2012
Burbank Multifamily Market Overview
Burbank is home to Walt Disney Studios and Warner Bros., and the studio lots, the Media District and the downtown around Olive Avenue keep rental demand steady in a city of mostly smaller apartment buildings. Across 14 closed transactions totaling $39.1M in Burbank since 2015, the LAAA Team of Marcus & Millichap has documented an average price per unit of $369,756 across its 11 apartment sales, and an average cap rate of 4.01% across the 11 of those with a rate recorded. The figures are the team's own closed transactions as of October 2026, listed in the table below.
Most of Burbank's apartment stock is 4 to 16 units on residential streets in the Media District, Magnolia Park and the blocks around downtown, much of it built in the 1950s and 1960s. Per-unit pricing in the team's Burbank sales runs among the highest in the Glendale, Pasadena and Burbank corridor.
Burbank is its own city, outside the Los Angeles RSO, and has no local rent control or rent registry. Rent increases on covered units follow the statewide AB 1482 cap, and the city's Tenant Protection Ordinance (Burbank Municipal Code Title 5, Chapter 4) requires relocation of at least three months' rent on most no-fault terminations, or one month for an owner or relative move-in (since 04/11/2025), with permit and notice rules before a substantial-remodel termination. Burbank also has a mandatory soft-story retrofit ordinance, adopted 12/10/2024, for pre-1978 wood-frame buildings with tuck-under parking or a weak first story: screening was due 01/12/2026, retrofit plans are due 01/11/2027 and construction must be finished by 01/10/2030. As of October 2026, from the City of Burbank's tenant protection FAQ (updated 06/2026) and soft-story road map.
Burbank has no city transfer tax and is outside the City of Los Angeles, so Measure ULA does not apply: a Burbank sale pays only the county's $1.10 per $1,000. On the City of Los Angeles side of the Valley (North Hollywood, Studio City, Sherman Oaks, Valley Village), a sale adds the city's $4.50 per $1,000 and, above $5,400,000, Measure ULA. Rates as of October 2026, from the Los Angeles County Registrar-Recorder's documentary transfer tax page.
Guides for Burbank owners
- Selling a Burbank Apartment Building in 2026: Soft-Story Deadlines, Relocation, Transfer Tax and What Buyers Ask For
- Is Burbank in Los Angeles? What the City Line Costs on a Valley Apartment Sale
- Burbank Apartment Sales, 2025 to 2026: What 30 Sales Show
- How to Sell an Apartment Building in Los Angeles: The Complete Guide
- Measure ULA: What Every LA Apartment Owner Needs to Know
- Rent Control from Los Angeles to Ventura and Santa Barbara: Every City's Cap, Who Is Covered and What Changes Next
Market Snapshot
Source: CoStar | Burbank Multifamily | 2026 Q1Rents by Unit Type
Investment Activity (Trailing 12 Mo)
Burbank Market Area
LAAA Team Closings in Burbank
14 transactions by Glen Scher, Filip Niculete & the LAAA Team
300 N Screenland Dr
Burbank • 2026
$1,700,000Units
5Cap
5.26%$/Unit
$340,000
4306-4310 W Victory Blvd
Burbank • 2026
$1,360,000Units
3$/Unit
$453,333
2907 W Riverside Drive
Burbank • 2026
$1,590,000Units
4Cap
4.37%$/Unit
$397,500
157 W Ash Ave
Burbank • 2023
$2,425,000Units
5Cap
4.78%$/Unit
$485,000
4318 W Victory Blvd
Burbank • 2023
$2,000,000Units
1Cap
4.90%$/Unit
$2,000,000
336-342 E Providencia Ave
Burbank • 2023
$7,050,000Units
24Cap
4.93%$/Unit
$293,750
328 E Providencia Ave
Burbank • 2023
$5,175,000Units
11Cap
4.48%$/Unit
$470,455
157 W Ash Ave
Burbank • 2022
$2,210,000Units
5Cap
3.58%$/Unit
$442,000
401 S Flower St
Burbank • 2018
$1,600,000Cap
4.00%
1213 North Screenland Drive
Burbank • 2017
$1,800,000Units
6Cap
3.01%$/Unit
$300,000
143 N Maple St
Burbank • 2017
$1,475,000Units
4Cap
3.54%$/Unit
$368,750
703 East Providencia Avenue
Burbank • 2016
$1,970,000Units
10Cap
3.00%$/Unit
$197,000
422 South Lake Street
Burbank • 2016
$7,250,000Units
14Cap
3.13%$/Unit
$517,857
2501 North Glenoaks Boulevard
Burbank • 2015
$1,530,000Units
6Cap
3.99%$/Unit
$255,000
Source: LAAA Team Closed Transactions
Selected Deal Stories
Burbank Multifamily Investment FAQs
Burbank apartment buildings average $369,756 per unit across the LAAA Team's 11 apartment sales in the city, part of 14 closed transactions totaling $39.1M (the team's own closings as of October 2026). Price per unit moves with building size, location and how far rents sit below market.
Cap rates in Burbank average 4.01% across the LAAA Team's 11 apartment sales with a recorded cap rate, as of October 2026. The rate on any one building depends on its current rents against market and on the condition of the building.
Burbank has no local rent control or rent registry, and it is not under the Los Angeles RSO. Covered units follow the statewide AB 1482 cap (5% plus CPI, at most 10%, for buildings more than 15 years old) and its just-cause rules. Burbank's Tenant Protection Ordinance adds relocation of at least three months' rent on most no-fault terminations, or one month for an owner or relative move-in. As of October 2026, from the City of Burbank's tenant protection FAQ.
Yes. Burbank adopted a mandatory soft-story ordinance on 12/10/2024 for wood-frame buildings permitted under pre-1978 codes with tuck-under parking and three or more units above, or a weak or open first story. Screening was due 01/12/2026, retrofit plans are due 01/11/2027, and construction must be finished by 01/10/2030. A building the city has exonerated carries a letter from the Building Official, which buyers ask to see. As of October 2026, from the City of Burbank's soft-story road map.
No. Measure ULA is the City of Los Angeles's transfer tax and applies only inside that city. Burbank has no city transfer tax, so a Burbank sale pays only the county's $1.10 per $1,000: $6,600 on a $6,000,000 sale. The same sale in Sherman Oaks or North Hollywood would also pay the City of Los Angeles's $4.50 per $1,000 and 4% under Measure ULA, about $273,600 in all. Rates as of October 2026.
Morgan Wetmore, Associate Director Investments (CA DRE 02209935), works Burbank and the San Fernando Valley with Glen Scher and Filip Niculete and leads the team's current Burbank listings; her page lists her closings. Call Glen Scher at (818) 212-2808 or Morgan at (818) 212-2724 for a confidential valuation.
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