Burbank / No Local Rent Control / AB 1482 252 W Elm Ave
16 Unit Block of Flats £4,392,610 (£274,538/Unit) 5.09% Net Initial Yield Burbank, CA 91502
INVESTMENT HIGHLIGHTS
- NO LOCAL RENT CONTROL / ONLY SUBJECT TO CA AB1482
- RARE OPPORTUNITY FOR INVESTORS SEEKING BUILDING OF SIZE IN CITY OF BURBANK
- PARKING, POOL, LAUNDRY, AND ACCESS TO THE BURBANK CHANNEL BIKEWAY
- STABILIZED PROPERTY, APPROXIMATELY 14 OUT OF 16 UNITS HAVE UNDERGONE VARIOUS UPDATES
- ATTRACTIVE UNIT MIX, WITH 80% OF THEM BEING TWO BEDROOMS
- MINUTES AWAY FROM ENTERTAINMENT STUDIOS/INDUSTRIAL LANDMARKS AND CONVIENENTLY LOCATED NEAR 134 AND 5 FWY
EXECUTIVE SUMMARY
PROPERTY OVERVIEW
Jared Levine of JML Real Estate Group / KW Commercial, the exclusive listing agent, is pleased to present the opportunity to acquire Elm Gardens, a stabilized 16-unit multifamily property located in the highly sought-after Rancho Adjacent submarket of Burbank. Ideally positioned near major landmarks and entertainment hubs, Elm Gardens offers a quality living experience in one of Los Angeles’ most desirable rental markets. Originally constructed in 1960, the property sits on a 13,097 SF lot and features a building footprint of 11,589 SF, zoned BUR4.
THE OPPORTUNITY
Elm Gardens presents an exceptional opportunity to acquire a stabilized asset in Burbank’s high-demand rental market, with further potential for value-add opportunities through tenant repositioning. Under current ownership, approximately 14 out of the 16 units have undergone various levels of updates, making this property an attractive option for investors seeking a stabilized investment with room for additional improvements. The property is not subject to local rent control but adheres to California's AB1482 Rent Control guidelines, offering a balanced regulatory environment. Burbank’s status as the “Media Capital of the World” ensures strong demand for rental properties, and Elm Gardens benefits from its proximity to major entertainment studios, businesses, and transit routes. With 80% of its units featuring two-bedroom layouts, Elm Gardens appeals to a diverse range of tenants, including families and professionals. The property also offers key amenities such as a pool, parking, laundry room, and immediate access to the Burbank Channel Bikeway.
THE LOCATION
Elm Gardens is ideally located in Burbank’s Rancho Adjacent submarket, one of the most desirable neighborhoods in the entertainment capital of the world. The property is just minutes from major entertainment studios and industry landmarks, offering significant appeal to professionals in the media and entertainment sectors. The surrounding area boasts upscale businesses, trendy restaurants, and boutiques, creating an attractive living and working environment. Conveniently located near the 134 and 5 Freeways, Elm Gardens offers unparalleled transit access, allowing residents and commuters easy connections to all areas of Los Angeles. The area is also home to vibrant local amenities, including shopping centers, dining options, and the nearby Burbank Channel Bikeway, which offers residents a convenient and active outdoor space. With Burbank’s constrained rental market and continued demand driven by the media industry, Elm Gardens represents an exceptional opportunity to secure a well-located, income-generating asset in one of the city’s most coveted locations.
Please contact us to request an OM
Jared Levine of JML Real Estate Group / KW Commercial, the exclusive listing agent, is pleased to present the opportunity to acquire Elm Gardens, a stabilized 16-unit multifamily property located in the highly sought-after Rancho Adjacent submarket of Burbank. Ideally positioned near major landmarks and entertainment hubs, Elm Gardens offers a quality living experience in one of Los Angeles’ most desirable rental markets. Originally constructed in 1960, the property sits on a 13,097 SF lot and features a building footprint of 11,589 SF, zoned BUR4.
THE OPPORTUNITY
Elm Gardens presents an exceptional opportunity to acquire a stabilized asset in Burbank’s high-demand rental market, with further potential for value-add opportunities through tenant repositioning. Under current ownership, approximately 14 out of the 16 units have undergone various levels of updates, making this property an attractive option for investors seeking a stabilized investment with room for additional improvements. The property is not subject to local rent control but adheres to California's AB1482 Rent Control guidelines, offering a balanced regulatory environment. Burbank’s status as the “Media Capital of the World” ensures strong demand for rental properties, and Elm Gardens benefits from its proximity to major entertainment studios, businesses, and transit routes. With 80% of its units featuring two-bedroom layouts, Elm Gardens appeals to a diverse range of tenants, including families and professionals. The property also offers key amenities such as a pool, parking, laundry room, and immediate access to the Burbank Channel Bikeway.
THE LOCATION
Elm Gardens is ideally located in Burbank’s Rancho Adjacent submarket, one of the most desirable neighborhoods in the entertainment capital of the world. The property is just minutes from major entertainment studios and industry landmarks, offering significant appeal to professionals in the media and entertainment sectors. The surrounding area boasts upscale businesses, trendy restaurants, and boutiques, creating an attractive living and working environment. Conveniently located near the 134 and 5 Freeways, Elm Gardens offers unparalleled transit access, allowing residents and commuters easy connections to all areas of Los Angeles. The area is also home to vibrant local amenities, including shopping centers, dining options, and the nearby Burbank Channel Bikeway, which offers residents a convenient and active outdoor space. With Burbank’s constrained rental market and continued demand driven by the media industry, Elm Gardens represents an exceptional opportunity to secure a well-located, income-generating asset in one of the city’s most coveted locations.
Please contact us to request an OM
PROPERTY FACTS
| Price | £4,392,610 |
| Price Per Unit | £274,538 |
| Sale Type | Investment |
| Net Initial Yield | 5.09% |
| Gross Rent Multiplier | 13.3 |
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.30 AC |
| Building Size | 11,589 SF |
| Number of Floors | 2 |
| Year Built | 1960 |
| Parking Ratio | 1.38/1,000 SF |
SITE AMENITIES
- Laundry Facilities
- Pool
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | Avg. Rent.Mo | SF |
|---|---|---|---|
| Studios | 1 | £1,307 | 1 |
| 1+1 | 2 | £1,674 | 1 |
| 2+1 | 13 | £1,759 | 1 |
1 of 1
Walk Score®
Very Walkable (76)
Bike Score®
Very Bikeable (72)
PROPERTY TAXES
| Parcel Number | 5625-014-010 | Improvements Assessment | £2,244,912 |
| Land Assessment | £1,496,608 | Total Assessment | £3,741,521 |
ZONING
| Zoning Code | R4, Burbank (Medium Density Multiple Residence) |
