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324 E Santa Anita Ave 8 Unit Apartment Building $4,058,788 CAD ($507,349 CAD/Unit) 6.46% Cap Rate Burbank, CA 91502
INVESTMENT HIGHLIGHTS
- Walking distance to restaurants
- ADU conversion potential
- Already upgraded/renovated
EXECUTIVE SUMMARY
The E. Santa Anita Ave Residences present a rare value-add opportunity in one of Burbank's most desirable rental corridors, just south of Glenoaks Blvd. This 8-unit, 6,001 sq. ft. building sits on an oversized 8,978 sq. ft. lot and features an efficient mix of two 2BR/1BA units and six 1BR/1BA units. Units have already been modernized with stainless-steel appliances, wood flooring, and upgraded bathroom vanities. Ownership has also completed major system upgrades, including electrical, reducing near-term maintenance exposure for a new investor. Built in 1957, the property is subject to AB 1482, allowing approximately 8% annual rent increases. Eight parking spaces (including tandem), and a rear garage with ADU conversion potential, this asset offers multiple avenues for forced appreciation. This is an exceptional chance to acquire a trophy multifamily asset in a prime, low-vacancy Burbank neighborhood with strong long-term fundamentals.
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
| Price | $4,058,788 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $507,349 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.20 AC |
| Cap Rate | 6.46% | Building Size | 6,001 SF |
| Gross Rent Multiplier | 12.85 | Average Occupancy | 100% |
| No. Units | 8 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1957 |
| Property Subtype | Apartment | Parking Ratio | 1.66/1,000 SF |
| Zoning | BUR4* - restricted Density Multiple Dwelling | ||
| Price | $4,058,788 CAD |
| Price Per Unit | $507,349 CAD |
| Sale Type | Investment |
| Cap Rate | 6.46% |
| Gross Rent Multiplier | 12.85 |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.20 AC |
| Building Size | 6,001 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1957 |
| Parking Ratio | 1.66/1,000 SF |
| Zoning | BUR4* - restricted Density Multiple Dwelling |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 6 | - | 750 |
| 2+1.5 | 2 | - | 950 |
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Walk Score®
Walker's Paradise (92)
PROPERTY TAXES
| Parcel Number | 2453-029-008 | Total Assessment | $3,650,072 CAD (2025) |
| Land Assessment | $1,472,836 CAD (2025) | Annual Taxes | -$1 CAD ($0.00 CAD/SF) |
| Improvements Assessment | $2,177,235 CAD (2025) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
2453-029-008
Land Assessment
$1,472,836 CAD (2025)
Improvements Assessment
$2,177,235 CAD (2025)
Total Assessment
$3,650,072 CAD (2025)
Annual Taxes
-$1 CAD ($0.00 CAD/SF)
Tax Year
2024
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324 E Santa Anita Ave
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