Olive Units | 607 E Olive Ave
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Olive Units 607 E Olive Ave
6 Unit Block of Flats £2,104,150 (£350,692/Unit) 4.54% Net Initial Yield Burbank, CA 91501
Investment Highlights
- Easy access to public transit, freeways, major retailers, parks, coffee shops, entertainment and nightlife in Downtown Burbank.
- All units are currently tenant occupied.
- Well maintained property. ADU completed in 2021.
Executive Summary
FIRST TIME ON THE MARKET!! Located in the highly desirable NW of Burbank, one block below Kenneth. This pride of ownership property is well maintained 5-units plus 1 new ADU! Three of the five units are one bedroom and one bathroom with on site parking accessed from the alleyway. Duplex features 2 bedrooms 2 baths each unit. ADU has been completed in 2021, has a separate address and features 1BD 1BH. This great investment property is centrally located with easy access to public transit and minutes away to DreamWorks, Warner Bros. Studios, Disney Imagineering, St. Joseph's Hospital, LA Equestrian Center, Griffith Park, Ikea, and much more. Additional conveniences are other local and major retailers, parks, coffee shops, entertainment and nightlife in Downtown Burbank. With easy access to the 5/134/101 freeways. All units are currently tenant occupied.
Financial Summary (Actual - 2023) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
£102,622
|
£25.66
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
£102,622
|
£25.66
|
| Taxes |
-
|
-
|
| Operating Expenses |
£5,250
|
£1.31
|
| Total Expenses |
£5,250
|
£1.31
|
| Net Operating Income |
£97,372
|
£24.34
|
Financial Summary (Actual - 2023)
| Gross Rental Income | |
|---|---|
| Annual | £102,622 |
| Annual Per SF | £25.66 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | £102,622 |
| Annual Per SF | £25.66 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | £5,250 |
| Annual Per SF | £1.31 |
| Total Expenses | |
|---|---|
| Annual | £5,250 |
| Annual Per SF | £1.31 |
| Net Operating Income | |
|---|---|
| Annual | £97,372 |
| Annual Per SF | £24.34 |
Property Facts
| Price | £2,104,150 | Apartment Style | Garden |
| Price Per Unit | £350,692 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.17 AC |
| Net Initial Yield | 4.54% | Building Size | 3,500 SF |
| Sale Conditions | 1031 Exchange | Average Occupancy | 100% |
| No. Units | 6 | Number of Floors | 1 |
| Property Type | Residential | Year Built/Renovated | 1949/1989 |
| Property Subtype | Apartment |
| Price | £2,104,150 |
| Price Per Unit | £350,692 |
| Sale Type | Investment |
| Net Initial Yield | 4.54% |
| Sale Conditions | 1031 Exchange |
| No. Units | 6 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 3,500 SF |
| Average Occupancy | 100% |
| Number of Floors | 1 |
| Year Built/Renovated | 1949/1989 |
Site Amenities
- Courtyard
- Property Manager on Site
- Public Transportation
Unit Mix Information
| Description | No. Units | Avg. Rent.Mo | SF |
|---|---|---|---|
| 1+1 | 3 | £1,154 | 400 - 500 |
| 2+2 | 2 | £1,929 | 900 |
| Studios | 1 | £1,233 | 500 |
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Walk Score ®
Very Walkable (83)
zoning
| Zoning Code | BUR4* (Appropriate for multi family residential units. Locate near medium-high density and/or near commercial/office professional uses or arterial streets.) |
| BUR4* (Appropriate for multi family residential units. Locate near medium-high density and/or near commercial/office professional uses or arterial streets.) |
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Olive Units | 607 E Olive Ave
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