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$ 10,800,000
Est. payment /mo
Pending
711 N Hollywood WAY Burbank, CA 91505
0.42 Acres Lot
UPDATED:
02/13/2025 06:39 PM
Key Details
Property Type Commercial
Listing Status Pending
Purchase Type For Sale
MLS Listing ID CRSR24231974
Originating Board California Regional MLS
Year Built 1989
Lot Size 0.421 Acres
Property Description
We are pleased to offer for sale the Media Crest @701, a turn-key 24 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 12.9 grm and 5.62% cap. Unit mix of (16) 2+2, (8) 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 @701 is poised to continue to generate consistent cash flow. It represents
Location
State CA
County Los Angeles
Area 610 - Burbank
Interior
Laundry Laundry Area
Exterior
Pool None
Building
Water Private
Others
Tax ID 2480014021
Special Listing Condition Not Applicable
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Listed by Levon Alexanian • Keller Williams World Media Center