2001-2005 Grismer Avenue — Sale in Burbank, CA

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Burbank, CA 91504

Photos

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Investment Figures

Cap rate
4.88%

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 present the investment opportunity at 2001-2005 Grismer Avenue in Burbank, California. This 14-unit apartment community is situated in the established North Burbank residential corridor, one of the most consistently performing multifamily submarkets in the San Fernando Valley. The offering represents an opportunity to acquire a uniformly configured, below-market asset in a city that operates independently from the City of Los Angeles, with a meaningfully different regulatory environment and a strong long-term rental demand profile driven by proximity to the Burbank Media District, the studios, and the broader employment base that anchors the area. The subject property is a two-story, 14-unit apartment building constructed in 1987 and situated on an 11,440 SF lot. The building totals 11,334 square feet of rentable area and is zoned BUR4. The unit mix is entirely composed of two-bedroom/two-bathroom units, providing operational consistency and a single-profile leasing strategy across the entire asset. The property is currently managed by OPEL Management Service and is 100 percent occupied as of the May 2026 rent roll. Residents benefit from on-site laundry service provided through a contract with All Valley Washer Service, generating approximately $2,948 annually in supplemental income. The building's uniform layout and standard two-bedroom configuration appeal to the core renter demographic in this corridor: working professionals, dual-income households, and long-term tenants drawn to Burbank's livability, school quality, and commuter access. The asset is individually addressed as both 2001 and 2005 Grismer Avenue and sits on a quiet residential street within walking distance of retail and services along N Glenoaks Blvd. 2001-2005 Grismer Avenue is positioned within the 91504-zip code, one of Burbank's most active multifamily leasing zones. Burbank is an independent city with its own municipal services and zoning authority, sitting ju

Market Context

This multifamily in Burbank, CA is listed for sale. It is offered at an approximate 4.9% 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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