tomo logo

$5,500,000

Beds
14
sq ft
9,906

1814 Grismer Ave, Burbank, CA 91504

1814 Grismer Ave

Burbank, CA 91504

  • 48 days on market
The building is exempt from Los Angeles Rent Control and therefore an investor can benefit from higher allowable annual rent increases through AB 1482. Only two units have been given rent increases within the past year, potentially allowing a new owner to improve the property's cashflow almost immediately (Buyer to verify). Situated within a mile of both the Burbank Town Center and the Empire Center, this property grants tenants convenient access to numerous major national retailers and an extensive slate of entertainment and dining options. Stores such as Costco, Target, Walmart, Nordstrom Rack, Macy's, Cost Plus World Market, and Best Buy provide local residents a wide array of local shopping choices. 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.

Details

Property type

Est. home value

$5,428,647

Lot size

0.2321 acres

Price per sq ft

$556

Year built

1961

HOA

No

Price History

11/04/2024
CLAW

CLAW #24460053

Listed
$5,500,000

Schools & Community

Elementary school: 

Unknown

Middle school: 

Unknown

High school: 

Unknown

Seller’s Loan History

Before you make an offer, understand who you are negotiating with so you can tailor your negotiation strategy to their situation.

Lender

Pacific Premier Bank

Loan start date

October 2021

Original loan amount

$2,990,000

Est. remaining balance

Not provided

Interest rate

2.86%

Loan type

Commercial

Seller

Aaa Management Group Llc

Source: Public records data

If you're the owner, you can request to remove loan details. Email listingsupport@tomo.com

How insights can help you

Interest rate

If the seller has a low interest rate, they may be tempted to rent the property out if they can't get the price they have in mind.

Motivation

If the seller already got a job in a different city, they may feel pressure to sell quickly to free up cash for a new home.

Equity

If the seller stands to receive a large amount of cash when they sell the property, they might be willing to negotiate on the offer price.

Interested in learning more?

Status: Active

Tomo last checked: 12/22/2024 at 6:45 PM

Listing updated: 12/05/2024 at 2:37 PM

Listed by: Roderick 'Rick' Raymundo, Marcus & Millichap Phone #: (818) 212-2700

MLS: CLAW #24460053

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