Description
MAJOR FIXER!! SELLER WILL FINANCE!! Rare opportunity for investor, contractor or owner/user with DIY skills and determination. Property zoned BUR4*!! Duplex consists of two 1 bedroom, 1 bath units. Tenants are on month-to-month leases (one tenant is Section 8). Best priced duplex in Burbank. This property will go quickly so RUN, don’t walk!
Additional income potential by converting detached, alley accessible 2-car garage into 1 or 2 additional units as ADUs (verify with Burbank City Building Department). Plumbing connection located at garage. Tremendous upside in rents plus grow current income by adding ADUs. Construct a small laundry room on the property to generate additional income as well as convenience for tenants. Very conservative pro forma cap rate of 5.14% / GRM of only 14.09!
Highly desirable northwest Burbank neighborhood near 5 Points Monument. Abundant and convenient public transportation offerings within short walking distance. Walk Score is 76! Costco, quick service and numerous local restaurants, multiple national retailers all located within walking distance. Minutes to I-5 freeway. Convenient public bus transportation located at the corner and across the street. One mile walk to Burbank Metrolink Station. A short hop, skip, jump to 5 Points Monument. Chandler bike path is only a few blocks away as well.
Location
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$779,000
3 Beds
2 Baths
1,247 Sq ft
MLS# SR22259332
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Listing Agent: Leilani Tedeski Courtesy of: Realty ONE Group Strong The real estate listing information is provided by California Regional MLS, Inc. and/or CARETS® for the consumer’s personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumer may be interested in purchasing or leasing. Any information relating to a property referenced on this web site comes from the Internet Data Exchange (IDX) program of the California Regional MLS, Inc. and/or CARETS®. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns the web site. Information is deemed reliable but not guaranteed, and consumer is responsible for verifying the accuracy of all information. Copyright © California Regional MLS, Inc. and/or CARETS®. All Rights Reserved. Updated: 27th January, 2023 8:15 PM (UTC)
