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Stacy Charlton

Stacy Charlton
CalBRE License #: 01278325
RE/MAX Empower
Burbank, CA 91502

818-434-6683
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Listing 16 out of 114
Sold for $4,500,000 Sold

623 E Cedar Avenue
Burbank, CA 91501

11 units | Multi Family Home
8769 sq ft - MLS# 18320554
Property Photo

Sold

Sold for $4,500,000 on Jul 9, 2018

Description

This professionally managed building features a unit mix with one (1) 1 bedroom unit, and ten (10) 2 bedroom units. The building has been very well maintained: seven units have newer plank flooring, two have units granite counter tops, and five of the HVAC units have been recently replaced. The property also features a pitched roof, central HVAC, ample gated parking, individual hot water heaters and alley access. This is an opportunity for an investor to capitalize on approximately 23% +/- rental upside with minimal capital expenditure.

Features

  • Property Type: Multi Family Home
  • Sub Type: Multi Family Home
  • Listing Status: Closed
  • Listing Price: $4,600,000
  • Zip Code: 91501
  • Year Built: 1984
  • Units: 11 units
  • Lot Size: 8769 sq ft
  • Zoning: BUR4
  • Area: 610 - Burbank
  • Building Area Total: 11419.00
  • Cap Rate: 2.73
  • Co-Listing Agent License: 01887505
  • Co-Listing Office License: 00530854
  • Cooling: Central
  • Cooling YN: Yes
  • Directions: Above Glenoaks, between Kenneth and 6th.
  • Gross Multiplier: 21.17
  • Gross Operating Income: 211810.00
  • Laundry Features: See Remarks
  • Laundry YN: Yes
  • Listing Agent License: 01881930
  • Listing Office License: 01881930
  • Lot Size Units: Square Feet
  • MLS: CL
  • Net Operating Income: 124191.00
  • Number Of Buildings: 1
  • Parking Features: Assigned
  • Parking YN: Yes
  • Selling Agent: Levon Alexanian
  • Selling Agent License: 00911091
  • Selling Office: Keller Williams World Media Ce
  • Stories Total: 2
  • Total Expenses: 87620.00
  • Sold Price: 4500000.00
  • Sold Date: 2018-07-09 00:00:00
Courtesy of Anubhav Kawatra, Anubhav Kawatra



Stacy Charlton | 818-434-6683 | Email Me
707 S Victory Blvd - Burbank, CA 91502
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