$3,875,000
$3,995,000
3.0%For more information regarding the value of a property, please contact us for a free consultation.
9,143 Sqft Lot
SOLD DATE : 12/11/2020
Key Details
Sold Price $3,875,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
MLS Listing ID SR20192121
Sold Date 12/11/20
Construction Status Turnkey
HOA Y/N No
Year Built 1988
Lot Size 9,143 Sqft
Property Description
18620 Burbank Blvd. offers investors the opportunity to own a extremely well-maintained multi-family property in a highly desirable neighborhood. This 11-unit apartment building includes subterranean parking, controlled access, and offers high-quality apartment units and common areas. Tarzana is one of the most popular Los Angeles suburbs and is located in the heart of the San Fernando Valley. Surrounded by many popular markets, stores, and restaurants, the area is extremely desirable for all ages. Conveniently located near the 101 Freeway, this property is 15 miles from Beverly Hills and 21 miles from Downtown Los Angeles. The unit mix consists of ten 2 bed 2 bath units and one 1 bed 1 bath unit. More than half of the units' rents are significantly below market rent giving investors the opportunity to increase their income rather quickly by 45% or higher.
Financials based on 2019 expenses.
Location
State CA
County Los Angeles
Area Tar - Tarzana
Zoning LAR3
Interior
Interior Features Built-in Features, Balcony, French Door(s)/Atrium Door(s)
Heating Forced Air
Cooling Central Air
Flooring Brick, Carpet, Concrete, Tile, Vinyl, Wood
Fireplaces Type Living Room
Fireplace Yes
Appliance Dishwasher, Electric Range, Gas Range, Microwave, Refrigerator, Water Heater
Laundry Common Area
Exterior
Garage Assigned, Underground, Gated
Garage Spaces 22.0
Garage Description 22.0
Fence Excellent Condition
Pool None
Community Features Street Lights, Suburban, Valley
Utilities Available Cable Available, Electricity Available, Natural Gas Available, Phone Available, Sewer Available, Water Available
View Y/N Yes
View Neighborhood, Valley
Roof Type Composition,Flat,Rolled/Hot Mop
Accessibility Parking
Total Parking Spaces 22
Private Pool No
Building
Lot Description 11-15 Units/Acre
Story 2
Entry Level Two
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Construction Status Turnkey
Others
Senior Community No
Tax ID 2160005021
Security Features Security Gate,Key Card Entry
Energy Description 3.0
Acceptable Financing Cash, Conventional, FHA
Listing Terms Cash, Conventional, FHA
Financing Other
Special Listing Condition Standard
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