Stunning Multifamily Investment Opportunity in Burbank : 240-260 E. Providencia We are excited to present this meticulously renovated 15-unit multifamily property located in the heart of Burbank, renowned as the Media Capital of the World. This exceptional investment opportunity is situated in one of the region’s most sought-after rental markets, offering strong returns and long-term growth potential. Property Highlights: Prime Location: Nestled on a 17,821-square-foot lot with 100 feet of street frontage across two parcels. Diverse Unit Mix: (12) One-bedroom, one-bathroom units (2) Two-bedroom, one-bathroom units (1) Two-bedroom, two-bathroom unit Bonus: A 153-square-foot storage room that can be converted into an office. Rentable Space: 8,202 square feet of updated, income-generating units. Attractive Financials: Enjoy an in-place 6.19% CAP rate, making this an outstanding investment for cash flow and value appreciation. This property represents the ideal combination of a renovated asset, diverse floor plans, and an exceptional location, making it a premier choice for savvy investors looking to capitalize on Burbank’s ever-growing rental demand. Don’t miss the chance to add this jewel to your portfolio!
Property Details
Property Features
Property Information:
Year Built: 1951
Stories: 2
Listing Office:
Office Name: City Center Realty Group
Office Phone: (818) 845-5551
Listing Agent: Steve Hovakimyan
Interior Features
Interior Information:
Fireplace: None
Exterior Features
Exterior Information:
Private Pool: No
Lot Features
Lot Information:
Lot Size: 0.41 Acres
Utilities
Utilities Information:
Heating: Central
Cooling: Central Air
Other
Directions Information:
Directions: Between Glenoaks and San Fernando
Price Information
Listing Price Info
Price Summary:
List Price: $5,975,000
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Housing Market Comparison
See how this home compares to others in Burbank, CA.
This property is $4.8M more than the Median Sold Price in Burbank, CA.
Based on homes sold in the last 12 months
MLS Details
MLS Information:
MLS Name: CRMLS
MLS Number: #BB24247060
Listing Office:
Office Name: City Center Realty Group
Office Phone: (818) 845-5551
Listing Agent: Steve Hovakimyan
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. 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. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
The information being provided by California Regional Multiple Listing Service, Inc. (“CRMLS”) is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Any information relating to a property referenced on this web site comes from CRMLS. Properties may or may not be listed by the office/agent presenting the information. Real estate listings held by brokerage firms other than this broker are marked with the Internet Data Exchange logo and detailed information about them includes the names of the listing brokers and listing agents. MLS search engine provided by IHR Technology Services. This data is updated every 2 hours. Some properties appearing for sale on this display may subsequently have sold and may no longer be available. Data displayed may be a portion of, and not a complete set of all listings published in the MLS. Last updated on: 12/17/2024, 11:55:58 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Property Sales & Tax
We're sorry, we currently don't have sales or tax history data for this listing.
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Schools
Schools Nearby
The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.
We're sorry, we currently don't have assigned school data for this listing.
Nearby Schools
6
/10
William McKinley Elementary School
349 W Valencia Ave
Distance between this listing and this school0.69 miles
Public District Grades KG-5
6
/10
Joaquin Miller Elementary School
720 E Providencia Ave
Distance between this listing and this school0.73 miles
Public District Grades KG-5
7
/10
Walt Disney Elementary School
1220 W Orange Grove Ave
Distance between this listing and this school0.85 miles
Public District Grades KG-5
Nearby Schools
5
/10
David Starr Jordan Middle School
420 S Mariposa St
Distance between this listing and this school0.95 miles
Public District Grades 6-8
7
/10
John Muir Middle School
1111 N Kenneth Rd
Distance between this listing and this school1.37 miles
Public District Grades 6-8
6
/10
Eleanor J. Toll Middle School
700 Glenwood Rd
Distance between this listing and this school2.14 miles
Public District Grades 6-8
Nearby Schools
9
/10
Burbank High School
902 N 3rd St
Distance between this listing and this school0.90 miles
Public District Grades 9-12
8
/10
John Burroughs High School
1920 W Clark Ave
Distance between this listing and this school1.28 miles
Public District Grades 9-12
3
/10
Monterey High (Continuation)
1915 W Monterey Ave
Distance between this listing and this school1.65 miles
The neighbors living near this home have an average income of $30,948. Most Burbank, CA residents have annual incomes less than $35k. The majority of families are single, no kids. The majority of residents in this area have post secondary degree education.
All data provided by Home Junction and Claritas
Frequently Asked Questions About 240-260 E Providencia Ave
What is the listing price of this property?
The listing price of 240-260 E Providencia Ave property is $5,975,000.
What type of property is this?
The property 240-260 E Providencia Ave is a condo located in Burbank, California, 91502.
Is this property for sale now?
Active Listing: 240-260 E Providencia Ave is For Sale (Active/New) which means the seller is accepting offers.
Which year was this property built?
The year of construction for 240-260 E Providencia Ave is 1951.
Interested in 240-260 E Providencia Ave? Let's connect.
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This home is located at 240-260 E Providencia Ave in Burbank, CA and zip code 91502 in the The Verdugos neighborhood. This home, which was built in 1951, sits on a 0.41 acre lot. It has been listed on Rocket Homes since December 14, 2024 and is currently priced at $5,975,000.
In November 2024, from all listings sold in Burbank, CA there were more than 16 sold above asking price, over 13 sold below and more than 8 were sold right at the asked price. Between October 2024 and November 2024, Burbank, CA real estate market has seen decrease in the number of listings by 7.3%. The median list price of listings available in November 2024 was $1,149,500, while the average time on the real estate market was 27 days.
From Rocket Homes Real Estate and based on county public records data.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. 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. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. 
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