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Rose Linda Gonzales

roselinda.gonzales@engelvoelkers.com +1(818) 261-2606

$ 2,100,000

Est. payment -/mo

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Price Dropped by $100K

140 N Pass AVE Burbank, CA 91505

6 Beds

5 Baths

4,077 SqFt

UPDATED:

Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Square Footage 4,077 sqft

Price per Sqft $515

MLS Listing ID 25555629

Bedrooms 6

Construction Status Updated/Remodeled

HOA Y/N No

Year Built 1941

Lot Size 5,688 Sqft

Property Description

Sellers will carry the 1st loan with an acceptable down payment, and offer the interest rate at 5.00% fixed for the first 5 years. The buyer's potential has a positive cash flow with interest payment only. This will be a great 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 owner-occupied; it will be vacant at closing. 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 March 31, 2026. The owner unit's rent can be set at the market rent, subject to California's rent control guidelines. The new owner can increase revenue through separate charges for garage parking and storage. Potential to increase the cap rate higher than 4.51% and have a potential Value Add by building a new ADU above the current garage or converting it to an ADU. The building has minimal maintenance.

Location

State CA

County Los Angeles

Area 610 - Burbank

Zoning BUR4*

Interior

Interior Features Crown Molding

Heating Natural Gas

Flooring Laminate

Fireplaces Type Bath, Kitchen, Living Room

Fireplace Yes

Appliance Disposal, Gas Range, Refrigerator

Laundry Common Area, Stacked

Exterior

Parking Features Door-Multi, Door-Single, Garage, One Space, On Street

Garage Spaces 5.0

Garage Description 5.0

Pool None

View Y/N Yes

View City Lights

Roof Type Composition,Shingle

Accessibility None

Porch None

Total Parking Spaces 6

Private Pool No

Building

Lot Description Rectangular Lot

Story 2

Entry Level Two

Sewer Sewer Tap Paid

Water Public

Level or Stories Two

New Construction No

Construction Status Updated/Remodeled

Others

Senior Community No

Tax ID 2485007012

Security Features Carbon Monoxide Detector(s),Smoke Detector(s)

Financing Seller Financing

Special Listing Condition Standard

CRMLS Full IDX Feed (MAIN Website Search)

Listed by Somboon Nakorn Keller Williams Glendale #00987926

NEARBY SCHOOLS & PROPERTIES

Rose Linda Gonzales

Advisor | License ID: 01244000

+1(818) 261-2606

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