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1814 Grismer Ave 14 Unit Apartment Building $6,455,567 CAD ($461,112 CAD/Unit) 5.33% Cap Rate Burbank, CA 91504
Investment Highlights
- Desirable Burbank Location
- Recent Roof Replacement
- Rents Close to Market Rate
- Subject to State (AB 1482) Rent Control
- New Electrical Main Panel
Executive Summary
1814 Grismer Avenue is a turn-key fourteen (14) unit apartment building located in Burbank. Considered the "media capital of the world," Burbank is a major center of the entertainment industry and home to several prominent film and television studios. The opportunity consists of two (2) studio units, ten (10) one-bedroom units and two (2) two-bedroom/two-bathroom units. Additionally, amenities include on-site parking for almost all the units and a gated pool. Lastly, the building has undergone recent capital improvements including a new roof and a new main electrical panel. The city of Burbank does not have traditional rent control but operated under state law (AB 1482). Buyer to verify.
Financial Summary (Actual - 2025) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$526,443
|
$53.14
|
| Other Income |
$1,864
|
$0.19
|
| Vacancy Loss |
$15,793
|
$1.59
|
| Effective Gross Income |
$512,514
|
$51.74
|
| Taxes |
$77,467
|
$7.82
|
| Operating Expenses |
$90,624
|
$9.15
|
| Total Expenses |
$168,091
|
$16.97
|
| Net Operating Income |
$344,423
|
$34.77
|
Financial Summary (Actual - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $526,443 |
| Annual Per SF | $53.14 |
| Other Income (CAD) | |
|---|---|
| Annual | $1,864 |
| Annual Per SF | $0.19 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $15,793 |
| Annual Per SF | $1.59 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $512,514 |
| Annual Per SF | $51.74 |
| Taxes (CAD) | |
|---|---|
| Annual | $77,467 |
| Annual Per SF | $7.82 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $90,624 |
| Annual Per SF | $9.15 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $168,091 |
| Annual Per SF | $16.97 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $344,423 |
| Annual Per SF | $34.77 |
Property Facts
| Price | $6,455,567 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $461,112 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.23 AC |
| Cap Rate | 5.33% | Building Size | 9,906 SF |
| Gross Rent Multiplier | 12.26 | Average Occupancy | 86% |
| No. Units | 14 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1961 |
| Property Subtype | Apartment | Parking Ratio | 1.21/1,000 SF |
| Zoning | R4, Burbank | ||
| Price | $6,455,567 CAD |
| Price Per Unit | $461,112 CAD |
| Sale Type | Investment |
| Cap Rate | 5.33% |
| Gross Rent Multiplier | 12.26 |
| No. Units | 14 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.23 AC |
| Building Size | 9,906 SF |
| Average Occupancy | 86% |
| No. Stories | 2 |
| Year Built | 1961 |
| Parking Ratio | 1.21/1,000 SF |
| Zoning | R4, Burbank |
Amenities
Unit Amenities
- Air Conditioning
- Kitchen
- Refrigerator
- Range
- Tub/Shower
Site Amenities
- 24 Hour Access
- Controlled Access
- Laundry Facilities
- Tenant Controlled HVAC
- Walk-Up
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 2 | $2,520 CAD | 450 |
| 1+1 | 10 | $3,103 CAD | 600 |
| 2+2 | 2 | $3,901 CAD | 800 |
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Moderately walkable
60/100
Exceptionally drivable
90/100
Some public transit
40/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 2468-005-023 | Total Assessment | $5,954,056 CAD |
| Land Assessment | $2,375,115 CAD | Annual Taxes | $77,467 CAD ($7.82 CAD/SF) |
| Improvements Assessment | $3,578,941 CAD | Tax Year | 2025 |
Property Taxes
Parcel Number
2468-005-023
Land Assessment
$2,375,115 CAD
Improvements Assessment
$3,578,941 CAD
Total Assessment
$5,954,056 CAD
Annual Taxes
$77,467 CAD ($7.82 CAD/SF)
Tax Year
2025
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1814 Grismer Ave
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