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Dilbeck Real Estate
Real Living
818-790-6774

383 W ALAMEDA AVE, BURBANK CA, 91506

(Closed)
Sold Price:
$2,200,000
Date:10/25/2013
|
7,756 sqft
|
MLS# 13677527
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Listing Provided Courtesy Of: RE/XL Realty Advisors
Last Updated: 4/18/2014 7:12 AM
Description for 383 W ALAMEDA AVE BURBANK, CA 91506
The opportunity This well operated asset has the potential to deliver over 8% total return based on estimated debt cost and market rents. There is no rent control to impede a new owner's ability to benefit from market rents and any future increases. This potential yield may be increased by upgrading and repositioning the property as a high quality upscale offering. By appealing to the upmarket, design conscience, Burbank Media District clientele, a step-up in rents, profits and asset value may wait the savvy investor.Investing in Quality with Upside Investing in an asset located proximate to the Burbank Media District is an investment in quality. With 70% potential leverage of capital and historically low cost debt, investors may realize over 8% total return. For an investor to enjoy risk adjusted returns at this level in today's market is truly a rare find. That this property can be acquired at below per unit replacement cost with a substantial upside component is exciting.
Price
Sold Price:
$2,200,000
Sold Date:10/25/2013
Los Angeles
7,756 (approx)
13677527
Closed
Description
The opportunity This well operated asset has the potential to deliver over 8% total return based on estimated debt cost and market rents. There is no rent control to impede a new owner's ability to benefit from market rents and any future increases. This potential yield may be increased by upgrading and repositioning the property as a high quality upscale offering. By appealing to the upmarket, design conscience, Burbank Media District clientele, a step-up in rents, profits and asset value may wait the savvy investor.Investing in Quality with Upside Investing in an asset located proximate to the Burbank Media District is an investment in quality. With 70% potential leverage of capital and historically low cost debt, investors may realize over 8% total return. For an investor to enjoy risk adjusted returns at this level in today's market is truly a rare find. That this property can be acquired at below per unit replacement cost with a substantial upside component is exciting.
Listing Information
Property Type: Multi-Family
8,591 Sq. Ft. Vendor Enhanced (N) 7,756 (approx)
Vendor Enhanced (N) $283.65 1963
Yes
12 Total
Neighborhood
Room Information
Interior Features
A/C - Other
Other
Other
Exterior / Lot Features
S Exposure
24 Parking Spaces
BUR4*
Driving Directions
I-101, off at Alameda, east to property
Financial Considerations
2451038037
Cash To New Loan
Income ,$54,984
Semi Annually
Listing Price History

BURBANK Real Estate

BURBANK is located in California. BURBANK, California 91506 has a population of  103,340.

The median household income in BURBANK, California 91506 is $58,308. The median household income for the surrounding county is $52,874 compared to the national median of $50,935. The median age of people living in BURBANK 91506 is 38.8 years.

Sales History
Tax Info
Listing Provided Courtesy Of: RE/XL Realty Advisors Carlos A.G. Vigon
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.
Information is deemed reliable but is not guaranteed.

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409774 - Dilbeck Real Estate
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