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$10,800,000

Beds
Unknown
sq ft
Unknown

711 N Hollywood Way, Burbank, CA 91505

711 N Hollywood Way

Burbank, CA 91505

  • 42 days on market
We are pleased to offer for sale the Media Crest @701, a turn-key 24 units multifamily offering in the city of Burbank Ca. Comprised of fully upgraded and remodeled units and grounds, the offering requires virtually no capital upgrade requirements and is being delivered at 12.9 grm and 5.62% cap. Unit mix of (16) 2+2, (8) 1+1 are supplied with balconies/patios, fireplaces, dishwashers, central AC & heat, and are secured by gated parking and controlled access. Situated in the heart of Burbank, a thriving media and entertainment hub, this property offers proximity to major studios like Warner Bros., Disney, and NBC. Burbank is known for its strong rental demand and stable real estate market, making it an excellent location for apartment investment. Directly across the street is the "Ranch Lot Development" a $500,000,000 project being completed in 2025 is comprised of 926,000 sq ft media & office space. Burbank has a strong local economy driven by entertainment, tech, and media industries, making it a resilient market for residential real estate. The city’s ongoing development and economic growth provide a stable investment environment. With its central location and solid demand for rentals, Media Crest @701 is poised to continue to generate consistent cash flow. It represents a safe and reliable long-term investment in a high-demand area. Also available with sister property 520 N Hollywood Way, 20 units, if desired. * Contact Greg Alexanian for further details, tour dates and offering memorandum *

Details

Property type

Apartment

Est. home value

$11,436,893

Lot size

0.4213 acres

Price per sq ft

Unknown

Year built

1989

Price History

11/11/2024
CRMLS

CRMLS #SR24231974

Listed
$10,800,000
+31.71%
09/22/2017
CLAW

CLAW #17233268

Sold
$8,200,000

Schools & Community

Elementary school: 

Unknown

Middle school: 

Unknown

High school: 

Unknown

Community features: 

Curbs

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

Homestreet Bank

Loan start date

July 2020

Original loan amount

$7,000,000

Est. remaining balance

Not provided

Interest rate

3.1%

Loan type

Building or Construction Loan, 30 year

Seller

Hw Apartments Llc

Lender

Banc Of California Na

Loan start date

June 2018

Original loan amount

$5,565,000

Est. remaining balance

Not provided

Interest rate

4.47%

Loan type

Commercial

Seller

Hw Apartments 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 6:25 PM

Listing updated: 12/05/2024 at 3:11 AM

Listed by: Levon Alexanian, Keller Williams World Media Center Phone #: (818) 239-3500

MLS: CRMLS #SR24231974

CRMLS logo

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