4100 McFarlane Ave Burbank, CA 91505
13-Unit in Downtown Burbank
SOLD: $4,725,000 CAP RATE: 4.20% GRM: 14.53 PRICE PER SQUARE FOOT: $530
We are pleased to announce the sale of 4100 W McFarlane Ave a rare thirteen unit turnkey multifamily asset ideally located steps from Warner Bros Studios and surrounded by premier shopping dining and entertainment options. This exceptionally well positioned property sits in one of the most desirable rental markets in Los Angeles directly adjacent to Toluca Lake and Studio City where supply is limited and long term demand remains consistently strong.
The building is not subject to any local or city rent control and is only governed by AB 1482 creating a favorable operating environment for ownership. The property sits on a 7,451 square foot lot and offers 8,908 square feet of rentable space with an excellent unit mix consisting of two two bedroom one bathroom units ten one bedroom one bathroom units and one studio unit. The turnkey condition of the building and its irreplaceable location make it a true trophy asset for a long term investor.
The property sold for $4,725,000 which reflects a 4.20% cap rate a 14.53 GRM and a $530 price per square foot. The offering generated significant interest with nine competitive offers received underscoring the strength of the location and the quality of the asset.
David Saghian represented both the buyer and the seller in this transaction resulting in a smooth and efficient closing.
Investment Highlights
Premier turnkey thirteen unit asset steps from Warner Bros Studios and near Toluca Lake and Studio City
Not subject to local or city rent control only governed by AB 1482
Strong unit mix with two two bedroom units ten one bedroom units and one studio totaling
8,908 square feet of rentable space
Sold for $4,725,000 at a 4.20% cap rate a 14.53 GRM and $530 per square foot
Generated nine offers highlighting exceptional demand for well located Burbank multifamily assets
Buyer and seller represented by David Saghian
Exclusively Listed & Sold By:
David Saghian
(310) 401-1559
dsaghian@lyonstahl.com