Featured For Sale Motivated Seller

440 N Lomita St 4 Unit Apartment Building

440 N Lomita St, Burbank, CA 91506, USA
  • $2,200,000
  • $550,000

Overview

  • Apartment, Multi Family Home, Investment, Commercial
  • Property Type
  • 4,416
  • SF
  • 1989
  • Year Built
  • 0.15
  • Lot SF

Details

Updated on September 24, 2023 at 5:45 pm
  • Price: $2,200,000
  • Property Size: 4,416 SF
  • Land Area: 0.15 SF
  • Year Built: 1989
  • Property Type: Apartment, Multi Family Home, Investment, Commercial
  • Property Status: For Sale

Additional details

  • Cap Rate: 5.13%
  • Sale Conditions: 1031 Exchange
  • Gross Rent Multiplier: 4
  • Apartment Style: Low Rise
  • Building Class: C
  • No. Stories: 2
  • Parking Ratio: 1.81/1,000 SF

Description

Pacific West Business Properties, Inc, Inc is pleased to present this beautiful pride of ownership 4 unit apartment in a prime Burbank location. The apartment has a fantastic unit mix of a 3 bed 2 bath, a 2 bed 2 bath and two 2 bed 1 bath units that have all been renovated over the past several years minimizing future maintenance exposure.

The apartment is beautifully landscaped with great curb appeal and boasts 8 covered parking spaces and a coin operated laundry facility with Speed Queen machines. One unit is currently vacant allowing for an owner to move in and have the other units pay the mortgage, or lease it out at market rate. All rents are a below market rate providing upside for the next owner.
Burbank does not have rent control allowing for greater flexibility in adjusting rents

Property Documents

440 N Lomita OM
  • Address 440 N Lomita St, Burbank, CA
  • City Burbank
  • State/county California
  • Zip/Postal Code 91506

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Contact Information

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Pacific West Business Properties, Inc

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  • Pacific West Business Properties, Inc