143 N Beachwood DR Burbank, CA 91506

Huge 350k Price Reduction! Rare non-rent controlled fully renovated 12-unit building (100% occupied) in the Prime Burbank area. The property boasts an incredible current cap rate of 5.5% and 13.1 GRM. Priced at only 362k/door for bungalow-style units that have been mostly fully renovated from top to bottom. The property features a diverse unit mix consisting of 2 (2bed/1bath), 4 (1bed/1bath), and 6 (studio/1bath) units. All units are individually metered for gas and electricity, ensuring maximum efficiency in operation costs. Large 14,200 SF lot with preliminary plans to add 4 ADUs (2 Attached & 2 Detached) to further improve the numbers to only 271k/door. Non-LA-City rent-controlled asset allowing significant 8.8% annual rent increases (5%+CPI) for future upside. Almost all units have been completely renovated and boast a high-end aesthetic with new cabinets, flooring, modern lighting, new bathrooms, stainless steel appliances, as well as major exterior capital improvements. Amenities include on-site laundry facilities as well as 6 vacant garages with the potential to be converted to 2 attached ADUs. Prime Burbank location just minutes away from media giants such as Warner Bros Studios, Walt Disney Studios, and Burbank Town Center Shopping Mall.