Listed by Keller Williams South Bay, Keller Williams Downtown Los Angeles
$4,675,000
1814 Grismer Ave.
Details
APN 2468005023
Property Type Multifamily
Sub Type Apartment Building
Square Footage 9,906
Net Rentable (SqFt) 9,906
Units 14
Cap Rate 5.34%
NOI $249,425
Occupancy 86%
Pro-Forma Cap Rate 5.37%
Pro-Forma NOI $250,877
Price per SqFt $472
Class B
Year Built 1961
Buildings 1
Stories 3
Acreage 0.232
Zoning Estimated
Parking Spaces 12 spaces
Parking per 1,000 SqFt 1.21
Investment Type Stabilized
Sale Condition N/A
Just Listed | Burbank | 14 Units | AB 1482 Rent Control
Marketing description
1814 Grismer Avenue is a turn-key fourteen (14) unit apartment building located in Burbank. Considered the "media capital of the world," Burbank is a major center of the entertainment industry and home to several prominent film and television studios. The opportunity consists of two (2) studio units, ten (10) one-bedroom units and two (2) two-bedroom/two-bathroom units. Additionally, amenities include on-site parking for almost all the units and a gated pool. Lastly, the building has undergone recent capital improvements including a new roof and a new main electrical panel. The city of Burbank does not have traditional rent control but operated under state law (AB 1482). Buyer to verify.
Investment highlights
- Located in Desirable Burbank Location
- Diverse Mix of Studio, One-Bed, and Two-Bedroom Units
- Subject to State (AB 1482) Rent Control
- New Electrical Main Panel
- Recently Replaced Roof
- Turn-Key: Rents Close to Market Rate
Listing Contacts
Listed by Keller Williams South Bay, Keller Williams Downtown Los Angeles
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$249,425.00
$20,785.42/mo
Valuation Metrics
0
DSCR
5.34%
Cap Rate
5.34%
ROI
Map
Zoning
R-4 ResidentialMulti FamilyHigh Density Residential
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View all 37 uses
View all 37 uses Last updated Jun 22, 2026 For deeper zoning details, reports are available at Zoneomics
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