9
See all 9 photos
$9,000,000
Est. payment /mo
0.32 Acres Lot
Active Under Contract
520 Hollywood Way Burbank, CA 91505
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UPDATED:
12/26/2024 08:16 PM
Key Details
Property Type Condo
Sub Type Apartment
Listing Status Active Under Contract
Purchase Type For Sale
MLS Listing ID SR24231424
HOA Y/N No
Year Built 1990
Lot Size 0.319 Acres
Property Description
We are pleased to offer for sale the Media Crest @520, a turn-key 20 units multifamily offering in the city of Burbank Ca.
Comprised of fully upgraded and remodeled units and grounds, the offering requires virtually no capital upgrade requirements and is being delivered at 12.6 grm and 5.74% cap.
Unit mix of (1) 3+2, (15) 2+2, and (4) 1+1 are supplied with balconies/patios, fireplaces, dishwashers, central AC & heat, and are secured by gated parking and controlled access.
Situated in the heart of Burbank, a thriving media and entertainment hub, this property offers proximity to major studios like Warner Bros., Disney, and NBC. Burbank is known for its strong rental demand and stable real estate market, making it an excellent location for apartment investment. Directly across the street is the "Ranch Lot Development" a $500,000,000 project being completed in 2025 is comprised of 926,000 sq ft media & office space.
Burbank has a strong local economy driven by entertainment, tech, and media industries, making it a resilient market for residential real estate. The city's ongoing development and economic growth provide a stable investment environment.
With its central location and solid demand for rentals, Media Crest @520 is poised to continue to generate consistent cash flow. It represents a safe and reliable long-term investment in a high-demand area.
Also available with sister property 711 N Hollywood Way, 24 units, if desired.
* Contact us for further details, tour dates and offering memorandum *
Comprised of fully upgraded and remodeled units and grounds, the offering requires virtually no capital upgrade requirements and is being delivered at 12.6 grm and 5.74% cap.
Unit mix of (1) 3+2, (15) 2+2, and (4) 1+1 are supplied with balconies/patios, fireplaces, dishwashers, central AC & heat, and are secured by gated parking and controlled access.
Situated in the heart of Burbank, a thriving media and entertainment hub, this property offers proximity to major studios like Warner Bros., Disney, and NBC. Burbank is known for its strong rental demand and stable real estate market, making it an excellent location for apartment investment. Directly across the street is the "Ranch Lot Development" a $500,000,000 project being completed in 2025 is comprised of 926,000 sq ft media & office space.
Burbank has a strong local economy driven by entertainment, tech, and media industries, making it a resilient market for residential real estate. The city's ongoing development and economic growth provide a stable investment environment.
With its central location and solid demand for rentals, Media Crest @520 is poised to continue to generate consistent cash flow. It represents a safe and reliable long-term investment in a high-demand area.
Also available with sister property 711 N Hollywood Way, 24 units, if desired.
* Contact us for further details, tour dates and offering memorandum *
Location
State CA
County Los Angeles
Area 610 - Burbank
Interior
Fireplace No
Laundry Common Area
Exterior
Pool None
Community Features Curbs
Private Pool No
Building
Lot Description 16-20 Units/Acre
Story 2
Sewer Private Sewer
Water Private
New Construction No
Others
Senior Community No
Tax ID 2483009023
Acceptable Financing Cash, Cash to Existing Loan, Cash to New Loan, Conventional, 1031 Exchange
Listing Terms Cash, Cash to Existing Loan, Cash to New Loan, Conventional, 1031 Exchange
Special Listing Condition Standard
Listed by Levon Alexanian • Keller Williams World Media Center • [email protected]