335 E Providencia Ave — Sale in Burbank, CA

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Burbank, CA 91502

Photos

335 E Providencia Ave — Sale in Burbank, CA, photo 1 of 2
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Investment Figures

Cap rate
4.58%

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 335-337 E Providencia Avenue, an 8-unit multifamily property located in Burbank, CA. Situated near the intersection of Glenoaks Boulevard and Verdugo Avenue, the property is mere blocks from Downtown Burbank and the Burbank Town Center shopping mall. The location’s high Walk Score of 90 earns it the designation of “Walker’s Paradise” while providing convenient access to shopping and dining along Glenoaks Boulevard and San Fernando Boulevard. There are two separate buildings on one parcel — one structure was constructed in 2000 while the other has been heavily renovated in the past two years. Upgrades to the original building include new electrical panels and breakers, mini-split HVAC units, new copper plumbing, new wood flooring, new windows, new doors, and new security cameras. The property also recently passed the SB 721 elevated walkways inspection (Buyer to verify). The two buildings provide ample living space, with the eight units occupying over 8,000 rentable square feet. 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: • Excellent Burbank Location Next to Glenoaks Boulevard, Blocks from Burbank Town Center Shopping Mall • Two Separate Buildings Including Four Units Constructed in 2000 • Several Recent Upgrades — New Copper Plumbing, New Electrical Panel and Breakers, New Mini-Split HVAC Units, New Windows and Door

Market Context

This multifamily in Burbank, CA is listed for sale. It is offered at an approximate 4.6% 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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