140 N Pass Avenue

Burbank , CA 91505

MLS#: 25555629

$2,399,900

Status: Active
Listing number: 25555629
Listing provided by: Keller Williams Glendale
Listing agent phone: None
Last update: 17 days ago
On site: a month ago
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Property

Beds

6

Full Baths

None

1/2 Baths

None

Year Built

1941

Sq.Footage

4,077

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%.

Features & Amenities

Interior

  • Other Interior Features

    Crown Molding

  • Total Bedrooms

    6

  • Bathrooms

    N/A

  • Fireplace YN

    YES

  • Heating YN

    YES

  • Heating

    Natural Gas

Exterior

  • Garage

    Yes

  • Garage spaces

    5

  • Construction Materials

    Stucco

  • Parking

    Garage, On Street

  • Patio and Porch Features

    None

  • Pool

    Yes

  • Pool Features

    None

  • View

    City Lights

Area & Lot

  • Lot Features

    Rectangular Lot

  • Lot Size(acres)

    0.1306

  • Property Type

    Residential Income

Price

  • Sales Price

    $2,399,900

  • Sq. Footage

    4, 077

  • Price/SqFt

    $588

HOA

  • Association

    NO

School District

  • Elementary School

    N/A

  • Middle School

    N/A

  • High School

    N/A

Property Features

  • Stories

    2

  • Senior Community YN

    NO

  • Water Source

    Public

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Location

County

Los Angeles

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Listing Courtesy of Somboon Nakorn , Keller Williams Glendale

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LinaMirza

Call Lina today to schedule a private showing.

(818) 321-0175

Lina@theosrealty.com


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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%.

140 N Pass Avenue

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