1138 N Parish Pl — Sale in Burbank, CA

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Burbank, CA 91506

Photos

1138 N Parish Pl — Sale in Burbank, CA, photo 1 of 2
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Investment Figures

Cap rate
4.74%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Marcus & Millichap is pleased to announce the opportunity to purchase the 1138 N Parish Place, a 6-unit multifamily property located in Burbank, CA. Occupying a corner lot with high visibility along Victory Boulevard, the two buildings attract tenants who appreciate convenient access to the Burbank Empire Center, Downtown Burbank, and the Burbank Town Center. Every unit has been upgraded, featuring new wood flooring, new vinyl windows, new AC units, and remodeled kitchens. The entire property has been updated with a new main electrical panel, new subpanels and breakers, a new roof, new asphalt, a new laundry room, and a new security system. The property also recently passed the SB 721 elevated walkways inspection (Buyer to verify). Dubbed the “Media Capital of the World,” the city of Burbank is home to a vast contingent of entertainment employers, which allows tenants convenient commutes to studios. Notable media production campuses in and around Burbank include Disney Studios, Walt Disney Imagineering, Warner Bros. Studios, Universal Studios, Nickelodeon Studios, Cartoon Network, and Dreamworks Animation. In addition to the Burbank Town Center Shopping Mall, several other retail and dining destinations are conveniently accessible to tenants, including the Empire Center, Costco, Ikea, and the Americana at Brand lifestyle center. Investment Highlights: • Corner Location in Burbank, Blocks from Burbank Empire Center Shopping Mall • Fully Upgraded Property — New Electrical Main Panel and Subpanels, New Roof, New Asphalt, and Remodeled Interiors • Not Subject to Los Angeles Rent Control -- Burbank's Rent Legislation Allows for Higher Rent Increases and is More Favorable to Owners When Compared to LA City • Recently Passed SB 721 Inspection (Buyer to Verify) • All Units Include New Flooring, New Windows, New AC Units, and New Kitchens • Newly Installed Laundry Room and New Security Camera System • Considered a "Very Walkable" with a Walk Score of 83 • Convenient Access

Market Context

This multifamily in Burbank, CA is listed for sale. It is offered at an approximate 4.7% capitalization rate, a key benchmark for income-producing multifamily assets. Compare it against other multifamily listings for sale in Burbank, CA — view the full market.

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