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$ 10,150,000
Est. payment | /mo
20,768 SqFt
$ 10,150,000
Est. payment | /mo
20,768 SqFt
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 20,768 sqft
Price per Sqft $488
MLS Listing ID CL26839671
HOA Y/N No
Year Built 1958
Lot Size 0.430 Acres
Acres 0.43
Property Sub-Type Other
Property Description
With a prime corner lot location north of Glenoaks Boulevard, the property offers residents a home in the picturesque foothills of the Verdugo Mountains with Downtown Burbank and the Burbank Town Center shopping mall just blocks away. Buildings of this size and in this location are rarely available for sale, with fewer than one such property transacting per year over the past two decades (Source: CoStar COMPS). Due to the fact that the property is subject only to Burbank's local rent ordinance, a new owner may be able to recapture the rent upside and keep pace with improving rent growth via higher allowable rent increases, when compared with other assets subject to Los Angeles rent control. At the same time, deferred maintenance costs are dramatically reduced as the property has been thoroughly upgraded and well maintained in recent years. Seismic retrofit repairs were completed in January 2026, while a new roof was added, new windows were installed, and plumbing was replaced in 2018/2019. Tenants are easily attracted to the building's impressive amenities package, which includes central air/heat, recessed lighting, vaulted ceilings, quartz countertops, stainless steel appliances, and new vinyl windows. Dubbed the "Media Capital of the World," the city of Burbank is home to a vast contingent of entertainment employers, which allows tenants convenient commutes to studios. Notable media production campuses in and around Burbank include Disney Studios, Walt Disney Imagineering, Warner Bros. Studios, Universal Studios, Nickelodeon Studios, Cartoon Network, and Dreamworks Animation. In addition to the Burbank Town Center Shopping Mall, several other retail and dining destinations are conveniently accessible to tenants, including the Empire Center, Costco, Ikea, and the Americana at Brand lifestyle center.
Location
State CA
County Los Angeles
Zoning BUR4*
Interior
Fireplace No
Building
New Construction No
Others
Tax ID 5621020013
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Listed by Roderick 'Rick' Raymundo • Marcus & Millichap
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