CA > Burbank
Burbank, CA 91505,140 N Pass AVE
Burbank, CA 91505,140 N Pass AVE
Burbank, CA 91505,140 N Pass AVE
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$2,399,900
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6 Beds
5 Baths
4,077 SqFt
New

140 N Pass AVE Burbank, CA 91505

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Lucas Monari

Lucas Monari

+1(858) 405-5018

UPDATED:

Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 4,077 sqft

Price per Sqft $588

MLS Listing ID 25555629

Bedrooms 6

Construction Status Updated/Remodeled

HOA Y/N No

Year Built 1941

Lot Size 5,688 Sqft

Property Description

Exceptional 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 a prime candidate for Airbnb or short-term rentals, offering significantly higher revenue compared to traditional annual leasing. 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 August 31, 2025, the owner unit's rent based on AirBNB income, at which time rents can be adjusted by California's rent control guidelines. Bonus income potential: The new owner can increase revenue through separate charges for garage parking and storage. With rent increases taking effect, coupled with low building expenses and minimal maintenance, this property has the potential to achieve a cap rate exceeding 5.5%.

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)

Special Listing Condition Standard

California Regional MLS (CRMLS)
Listed by Somboon Nakorn • Keller Williams Glendale

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agent

Lucas Monari

Agent | License ID: 02163562

+1(858) 405-5018

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140 N Pass AVE