JUST REDUCED! Known as the Chateau Apartments, 1401 W. Alameda Avenue is a 20 unit multifamily asset ideally located in the coveted enclave of Burbank. Owned and operated by the Seller for nearly 40 years, the property offers a great unit mix for the area consisting of large studio apartments, all offering significant rental upside. Built in 1951 and exempt from Burbank rent control (AB 1482 applies), the property features a beautiful central courtyard with a sparkling pool. There is on-site parking for 16 cars and an on-site laundry facility. Priced at only $287,500 per unit! Overall, current rents hover significantly below market providing the astute investor with a long-term blueprint to add value and increase income. Please note: Do not disturb tenants or enter the property without permission.
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.
