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121 N Parish Pl, Burbank, CA 91506, USA

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Address: 121 N Parish Pl, Burbank, CA 91506, USA

California & West + Apartment Buildings

Created date: August 16, 2024

Date last updated: November 5, 2024

EXCELLENT LOCATION CLOSE TO STUDIOS

Premier Burbank Location
Walking Distance to Shopping, Dining, and Entertainment on Verdugo Ave, Alameda Ave, and Olive Ave
Minutes to Downtown Burbank, Bob Hope Airport, Providence Saint Joseph Medical Center, and The Walt Disney Studios
Easy Access to 5 and 134 Freeways
Walk Score of 83

STRONG UNIT MIX

Four One-Bedroom/One-Bathroom Units
Two Two-Bedroom/One-Bathroom Units
±5,300 SF Building

CURRENT RENTS ±18% UNDER MARKET

Further Upside with Complete Unit Renovations

ZERO SOFT-STORY

Garage Parking for Four Cars

EXCELLENT MARKET FUNDAMENTALS*

2024 Average Home Value of $1,088,165
2024 Average Household Income of $135,005

SIGNIFICANT EMPLOYERS IN THE IMMEDIATE AREA

ABC
Warner Bros. Studio
The Walt Disney Company
Nickelodeon
I Heart Media
Entertainment Partners
DreamWorks Animation
Sodexo
Telemundo
Providence Saint Joseph Medical Center

Property Description

CBRE is proud to exclusively present 121 N Parish Place, located west of Buena Vista Street, between Verdugo Avenue and Olive Avenue in the city of Burbank. 121 N Parish Place offers an investor the unique opportunity to own a smaller building in one of the healthiest and most attractive rental submarkets within the Tri-Cities area. 121 N Parish Place is a two-story, six-unit multifamily property constructed in 1952 on a ±6,211 square foot lot, with a total building size of ±5,300 square feet. The well-maintained property is separately metered for gas and electric, serviced by individual water heaters, and offers an on-site laundry facility, and four garage parking spaces. 121 N Parish Place boasts a strong unit mix of four one-bedroom/one-bathroom units and two two-bedroom/one-bathroom units. Units are spacious and offer tile and carpet flooring, gas stoves, ceiling fans, forced heat, and wall units for cooling. The roof was replaced this year.

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Key Property Information

Listing Status:	Sold
Sold Date:	31-10-2024
Property Types:	Apartment Buildings
Price:	$2,075,000
No. of Units:	6
Cap Rate:	4.85%
GRM /GIM:	11.74
Average Occupancy:	100
Year Built:	1952
Building Size:	5,300 Sq ft
Lot Size:	6,211.00 Sq ft
No. of Stories:	2
APN:	2444-009-006
Zoning Code:	BUR4
Opportunity Zone:	No
Price per unit:	$333,333
Parking Spaces:	4
Property Website	Click Here