The 2-4 Unit Specialists are pleased to offer for sale 1237 N Cordova, a charming, non rent-controlled triplex in the Magnolia Park neighborhood of Burbank. Located right off the Chandler Bike Path, this adorable property is a renters’ paradise. At $860,000, this property is priced to sell immediately. 1237 N Cordova is made up of one 2 bedroom, 1 bathroom unit and two 1 bedroom, 1 bathroom units. All three of these units look straight out of a designer catalogue. The building features: hardwood floors, laundry room on site, updated electrical, a patio, a side yard and three garage spots. The units bring in a total of $4,190 per month, making for a cap rate of 4.36% and a GRM of 17.10. Not to mention, due to the lack of rent control, the property can quickly achieve a pro forma cap rate of 5.68% and a pro forma GRM of 13.78. Numbers this great are nearly impossible to find! The property is situated in the adorable Magnolia Park neighborhood of Burbank. Steps from these units is the convenient Chandler Bike Path. Take a short walk to the many shops and restaurants on Magnolia or hop in the car for a quick ride to Downtown Burbank and all the fun it has to offer.
This property is off market, which means it's not currently listed for sale or rent on Zillow. This may be different from what's available on other websites or public sources.
