UNDER CONTRACT: 2340 North Ontario

2015-10-22 10.24.31Status: For Sale
Address: 2340 North Ontario Street, Burbank, CA
Size: 8,369 SF
Units: 8
Price
: $2,500,000 Total

Description:
2340 North Ontario Street is an 8,369 square foot eight-unit apartment building near Burbank Bob Hope Airport in Burbank, CA. The multi-story apartment building features a subterranean parking garage and separate laundry room on a 6,800 square foot lot. The apartments are a mix of studio units up to three-bedroom suites and have traditionally remained near 100% occupancy. The property is generating over a 4.25% capitalization rate and 18.77 gross rent multiplier based on 2015 pro-forma income. The building is professionally managed and has been kept in outstanding condition. The investment also features the opportunity to add value with actual rents largely under market value.

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