198 W Elmwood, Burbank, California 91502, Burbank, 91502 - bed, bath
ACTIVE$2,495,000$4,804/sqft
198 W Elmwood, Burbank, California 91502
0Bed
0Bath
4,804Sqft
7,513Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Prime Location & High Demand: Situated in an excellent, high-demand area of desirable Burbank, offering strong tenant appeal and proximity to Downtown Burbank's restaurants, cafes, mall, and movie theaters.
Top Cons:
Building Age: Constructed in 1953, the property, despite recent upgrades, may still present challenges associated with older infrastructure or require ongoing maintenance typical of buildings of this vintage.
Compared to the nearby listings
Compared against 0 nearby listings
More Insights
Built in 1953 (73 years old).
Condition: Despite being built in 1953, the property has undergone significant and recent renovations. The images showcase updated kitchens with white shaker cabinets, granite countertops, and new stainless steel ranges, along with modern bathrooms featuring new vanities, tile surrounds, and contemporary fixtures. New laminate flooring, fresh paint, and dual-pane windows are evident throughout the units. The listing also notes a newer roof, mostly copper plumbing, and some newer sewer lines, indicating well-maintained major systems. While the HVAC consists of wall units and wall heaters, and the building is older, the extensive updates make the units move-in ready and align with the 'Good' condition criteria.
Year Built
1953
Close
-
List price
$2.5M
Original List price
$2.48M
Price/Sqft
$519
HOA
-
Days on market
-
Sold On
-
MLS number
GD26010495
Home ConditionGood
Features
Good View: Neighborhood, Trees/Woods
ViewNeighborhood, Trees/Woods
About this home
Amazing 6 unit apartment building in excellent high demand area with no rent control in desirable Burbank. All units are 2 bedrooms, 1 bath with spacious light & bright living room, nice size kitchen with dining area, all dual pane windows, recessed lighting, lots of closet space & good size rooms. The building itself is well maintained and has newer roof, mostly copper plumming, some newer sewer lines, 6 covered parking spots and laundry room. All this comes with desirable location close to Downtown Burbank with its restaurants, cafes, mall & movie theaters. Two of the units are ready for your market rent tenants
S
Silvia Ragheb
Listing Agent
Price History
Date
Event
Price
11/07/19
Sold
$1,935,000
11/06/19
Sold
$1,950,000
Condition Rating
Good
Despite being built in 1953, the property has undergone significant and recent renovations. The images showcase updated kitchens with white shaker cabinets, granite countertops, and new stainless steel ranges, along with modern bathrooms featuring new vanities, tile surrounds, and contemporary fixtures. New laminate flooring, fresh paint, and dual-pane windows are evident throughout the units. The listing also notes a newer roof, mostly copper plumbing, and some newer sewer lines, indicating well-maintained major systems. While the HVAC consists of wall units and wall heaters, and the building is older, the extensive updates make the units move-in ready and align with the 'Good' condition criteria.
Pros & Cons
Pros
Prime Location & High Demand: Situated in an excellent, high-demand area of desirable Burbank, offering strong tenant appeal and proximity to Downtown Burbank's restaurants, cafes, mall, and movie theaters.
No Rent Control: The property is exempt from rent control regulations, providing significant flexibility for rent adjustments and maximizing potential investment returns.
Immediate Income Upside: Two of the six units are currently vacant and ready for market rent tenants, offering immediate opportunities to increase rental income and property value.
Well-Maintained Infrastructure: The building features a newer roof, mostly copper plumbing, and some newer sewer lines, indicating proactive maintenance and potentially reducing immediate capital expenditure for a new owner.
Tenant-Friendly Unit Features & Amenities: Units include dual-pane windows, recessed lighting, spacious layouts, and the property offers convenient amenities such as 6 covered parking spots and a laundry room, enhancing tenant satisfaction.
Cons
Building Age: Constructed in 1953, the property, despite recent upgrades, may still present challenges associated with older infrastructure or require ongoing maintenance typical of buildings of this vintage.
Unspecified HVAC Systems: The property description does not explicitly mention central air conditioning or heating systems in the units, which could be a drawback for tenants in Burbank's climate and potentially require future investment.
Uniform Unit Configuration: All six units are 2-bedroom, 1-bathroom. While popular, this uniform layout offers less diversity in unit sizes compared to properties with a mix of 1-bedroom or 3-bedroom units, potentially limiting the breadth of the tenant market.