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2001-2005 Grismer Avenue, Burbank, CA 91504

2001-2005 Grismer Avenue

2001-2005 Grismer Avenue, Burbank, CA 91504

14-Unit North Burbank Multifamily

Exclusively listed by the LAAA Team at Marcus & Millichap

Listing Price
$5,500,000
Cap Rate
4.41%
Units
14
GRM
14.86
Price / Unit
$392,857
Price / SF
$485.27
Gross SF
11,334 SF
Year Built
1987

Offering

Offering Snapshot

The LAAA Team of Marcus & Millichap is pleased to present 2001-2005 Grismer Avenue, a 14-unit apartment community in North Burbank. Built in 1987 with a uniform two-bedroom/two-bathroom unit mix, the property offers investors a Burbank multifamily asset outside City of Los Angeles RSO, with the OM framing rent regulation under California AB 1482.

  1. 01

    14-unit, 1987-built North Burbank apartment community offered at $5,500,000

  2. 02

    Uniform 2-bedroom / 2-bathroom unit mix across all 14 units

  3. 03

    OM-stated current NOI of $242,428 and pro forma NOI of $328,062

  4. 04

    In-place average rent of $2,203 per unit versus OM market rent of $2,750 per unit

  5. 05

    Burbank is independent from Los Angeles and the OM states the property is governed by AB 1482, not City of Los Angeles RSO

Location

North Burbank Location

2001-2005 Grismer Avenue, Burbank, CA 91504

A North Burbank setting near neighborhood retail, transit connections, and the city's entertainment and employment base. The OM states the property is outside City of Los Angeles rent control and is governed by California AB 1482.

Listing Team

Exclusively listed by the LAAA Team.

For offering materials, financials, or offer guidance, reach out directly.

Next Step

Ready to dig into the financials?

Sign the Confidentiality Agreement to access the full Offering Memorandum for 2001-2005 Grismer Avenue.

LA Apartment Advisors

The LAAA Team

Marcus & Millichap

All property showings are by appointment only.

This information has been secured from sources believed to be reliable, but no representations or warranties, expressed or implied, are made as to the accuracy of the information. References to square footage, age, or income are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. All property showings are by appointment only.