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$4,899,000
Est. payment /mo
14 Beds
16 Baths
9,906 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 9,906 sqft
Price per Sqft $494
MLS Listing ID 26641923
Bedrooms 14
HOA Y/N No
Year Built 1961
Lot Size 10,114 Sqft
Property Description
We are pleased to present 1814 Grismer Avenue, a 14-unit multifamily investment ideally positioned in North Burbank, one of Southern California's most consistently sought-after rental markets. Tucked within a quiet residential pocket just minutes from Thomas Jefferson Elementary School, John Muir Middle School, and McCambridge Park & Recreation Center. A gated pool area provides an inviting space for residents to swim, sunbathe, and BBQan increasingly scarce amenity that enhances tenant satisfaction and long-term retention. The property also features a large on-site laundry room with seller-owned machines, allowing a new owner to enjoy immediate income without the burden of third-party leases.Constructed in 1961, the property spans approximately 9,906 square feet and is comprised of 10 one-bedroom/one-bath units, 2 two-bedroom/two-bath units, and 2 studio units. All units are separately metered for gas and electricity. Over the years, ownership has completed meaningful capital improvements, including roof replacement, upgraded windows, and a new main electrical panel, positioning the asset for stable performance with limited near-term capital needs.Strategically located north of the I-5 Freeway and west of North Glenoaks Boulevard, 1814 Grismer Avenue benefits from immediate access to premier retail and employment centers. The Burbank Empire Center, Burbank Town Center, and Costco Wholesale are all within approximately one mile. Glenoaks Boulevard and San Fernando Boulevard serve as major commercial corridors offering a diverse mix of dining, shopping, and professional services. Commuters enjoy seamless connectivity via the I-5 and CA-134 freeways, placing Studio City, Glendale, Los Feliz, Atwater Village, North Hollywood, Downtown Los Angeles, and the San Gabriel Valley all within easy reach.Located in the City of Burbank, the property may face a pending soft cap of 4% yearly rent increases. However, AB 1482 allows for more favorable rental increases compared to the City of Los Angeles or unincorporated Los Angeles Countycreating a compelling environment for both cash flow stability and long-term growth.
Location
State CA
County Los Angeles
Area 610 - Burbank
Zoning BUR4*
Interior
Heating Wall Furnace
Cooling Wall/Window Unit(s)
Fireplace No
Appliance Disposal, Refrigerator
Laundry Laundry Room
Exterior
Parking Features Covered, Uncovered
Pool Fenced, In Ground
Building
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 2468005023
Special Listing Condition Standard
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Listed by Marcus & Millichap
Nearby School & Business
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