1814 Grismer Avenue, Burbank, CA 91504


Property Description

The building is exempt from Los Angeles Rent Control and therefore an investor can benefit from higher allowable annual rent increases through AB 1482. Only two units have been given rent increases within the past year, potentially allowing a new owner to improve the property's cashflow almost immediately (Buyer to verify). Situated within a mile of both the Burbank Town Center and the Empire Center, this property grants tenants convenient access to numerous major national retailers and an extensive slate of entertainment and dining options. Stores such as Costco, Target, Walmart, Nordstrom Rack, Macy's, Cost Plus World Market, and Best Buy provide local residents a wide array of local shopping choices. 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.


Interior Features

Bedroom Information
Bedrooms 14
Bathroom Information
Bathrooms 16

Listing Information

Address 1814 Grismer Avenue
City Burbank
State CA
Zip 91504
County Los Angeles
Listing Agent Roderick 'Rick' Raymundo DRE #01357019
Courtesy Of Marcus & Millichap
List Price $5,500,000
Status Active
Type Residential Income
Structure Size 9,906
Lot Size 10,112
Year Built 1961

Listing information courtesy of: Roderick 'Rick' Raymundo, Marcus & Millichap. *Based on information from the Association of REALTORS/Multiple Listing as of Nov 4th, 2024 at 11:43 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.