1225 N Hollywood Way Burbank, CA 91505
Triplex in Burbank
SOLD: $1,180,000 CAP RATE: 3.29% GRM: 16.31 PRICE PER SQUARE FOOT: $473
We are pleased to announce the sale of 1225 N Hollywood Way a turnkey three unit multifamily asset located in an AAA+ Burbank location. The property sold for $1.18M reflecting a 3.49% cap rate a 16.31 GRM a $473 price per square foot and a $391,666 price per unit.
The building features an ideal and highly rentable unit mix consisting of one 2 bedroom 1 bathroom unit one 1 bedroom 1 bathroom unit with den and one 1 bedroom 1 bathroom unit. Each unit offers private patio space and an average unit size of 827 square feet creating strong tenant appeal and long term livability.
Additional amenities include an onsite laundry room and separately metered gas and electric for all units supporting efficient operating expenses. The property also provides the ability to add an ADU on top of the rear garages without sacrificing any existing parking which presents an attractive future value add opportunity.
Situated in a walkable pocket with a Walk Score of 82 the asset benefits from close proximity to fine dining shopping and entertainment throughout Downtown Burbank. The property was delivered in turnkey condition with approximately 8% remaining upside in market rents making it a stable investment with moderate growth potential.
Investment Highlights
3 unit asset in an AAA+ Burbank location with a Walk Score of 82 described as Very Walkable
Excellent unit mix including one 2BR/1BA one 1BR/1BA with den and one 1BR/1BA unit
Ability to add an ADU above the rear garages without sacrificing parking
Spacious units with an average size of 827 SF all featuring private patios
Separately metered for gas and electric with onsite laundry room
Turn key asset with approximately 8% upside in market rents
Sold for $1.18M reflecting a 3.49% cap rate 16.31 GRM $473 per SF and $391,666 per unit
Exclusively Listed & Sold By:
David Saghian
(310) 401-1559
dsaghian@lyonstahl.com