Homes for sale - 520 Hollywood WAY, Burbank, CA 91505

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JLee Broker

[email protected] +1(650) 857-1000

$9,000,000

Est. payment - /mo

0.32 Acres Lot

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UPDATED:

11/11/2024 01:46 AM

Key Details

Property Type Commercial

Listing Status Active

Purchase Type For Sale

MLS Listing ID CRSR24231424

Originating Board California Regional MLS

Year Built 1990

Lot Size 0.319 Acres

Property Description

We are pleased to offer for sale the Media Crest @520, a turn-key 20 units multifamily offering in the city of Burbank Ca. Comprised of fully upgraded and remodeled units and grounds, the offering requires virtually no capital upgrade requirements and is being delivered at 12.6 grm and 5.74% cap. Unit mix of (1) 3+2, (15) 2+2, and (4) 1+1 are supplied with balconies/patios, fireplaces, dishwashers, central AC & heat, and are secured by gated parking and controlled access. Situated in the heart of Burbank, a thriving media and entertainment hub, this property offers proximity to major studios like Warner Bros., Disney, and NBC. Burbank is known for its strong rental demand and stable real estate market, making it an excellent location for apartment investment. Directly across the street is the "Ranch Lot Development" a $500,000,000 project being completed in 2025 is comprised of 926,000 sq ft media & office space. Burbank has a strong local economy driven by entertainment, tech, and media industries, making it a resilient market for residential real estate. The city's ongoing development and economic growth provide a stable investment environment. With its central location and solid demand for rentals, Media Crest @520 is poised to continue to generate consistent cash flow.

Location

State CA

County Los Angeles

Area 610 - Burbank

Interior

Laundry Laundry Area

Exterior

Pool None

Building

Water Private

Others

Tax ID 2483009023

Special Listing Condition Not Applicable

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Listed by Levon Alexanian • Keller Williams World Media Center

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JLee Broker

+1(650) 857-1000

Broker | License ID: 00851314

Broker License ID: 00851314

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520 Hollywood WAY Burbank, CA 91505

JLee Broker

JLee Broker

Key Details

Location

Interior

Exterior

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Others

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