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216 N Rose Street, Burbank, California 91505, Burbank, 91505 - 3 bed, 3 bath

216 N Rose Street, Burbank, California 91505 home-pic-0
ACTIVE$1,700,000
216 N Rose Street, Burbank, California 91505
3Beds
3Baths
1,657Sqft
6,794Lot

Price Vs. Estimate

The estimated value ($1,484,885.79) is $215,114.21 (12%) lower than the list price ($1,700,000). This property may be overpriced.

Key pros and cons

Top Pros:
Potential Financing: Seller may consider providing financing with a significant down payment, which could be attractive to buyers who have difficulty securing traditional financing.
Top Cons:
Zoning Uncertainty: The description mentions the city is reorganizing uses for the property, requiring potential buyers to verify the current zoning regulations with Burbank Planning.

Compared to the nearby listings

Price:$1.70M vs avg $1.15M (+$553,500)91%
Size:1,657 sqft vs avg 1,384 sqft67%
Price/sqft:$1.0K vs avg $84090%

More Insights

Built in 1950 (75 years old).
Condition: The property was built in 1950. The images show a mix of updated and outdated features. One bathroom appears to have been partially updated with new tile and vanity, while another bathroom looks older. The kitchen is not clearly visible, but the overall impression is that the property has been maintained but requires some updates to bring it to modern standards. The listing description also mentions that it is suitable for contractors and investors, suggesting that some work is needed.
Year Built
1950
Close
-
List price
$1.7M
Original List price
$2M
Price/Sqft
$1,026
HOA
-
Days on market
-
Sold On
-
MLS number
BB25017727
Home ConditionFair
Features
View-

About this home

REDUCED! SELLER WOULD CONSIDER providing Financing with significant down payment. Zoned Was Zoned BUR5* CITY CHANGED ZONING TO MDR-4 This zoning encompasses many DIFFERENT uses for this property, a call to the Burbank Planning can give an update on its expanded uses. Home offers close proximity to "THE FAMOUS BOB'S BIG BOY", Trader Joe's and all that the Village has to offer. Calling all contractors and savvy investors. Home has a separate studio, suitable for a home office w/ heat and air, 3/4 restroom City again is reorganization the more expansive uses for this property, interested, give Burbank Planning a jingle. Refer to Burbank City planning for all of properties uses PROPERTY IS ALSO 4 LEASE @$9000 per month which includes separate studio.

Condition Rating
Fair
The property was built in 1950. The images show a mix of updated and outdated features. One bathroom appears to have been partially updated with new tile and vanity, while another bathroom looks older. The kitchen is not clearly visible, but the overall impression is that the property has been maintained but requires some updates to bring it to modern standards. The listing description also mentions that it is suitable for contractors and investors, suggesting that some work is needed.
Pros & Cons

Pros

Potential Financing: Seller may consider providing financing with a significant down payment, which could be attractive to buyers who have difficulty securing traditional financing.
New Zoning: The property is zoned MDR-4, offering expanded uses. Confirming these uses with Burbank Planning could reveal significant development potential.
Separate Studio: The property includes a separate studio with heat, air, and a 3/4 restroom, ideal for a home office, guest suite, or rental income.
Prime Location: Located near Bob's Big Boy, Trader Joe's, and the Village, offering convenient access to dining, shopping, and entertainment.
Investment Opportunity: The property is suitable for contractors and savvy investors, presenting opportunities for renovation, development, or rental income.

Cons

Zoning Uncertainty: The description mentions the city is reorganizing uses for the property, requiring potential buyers to verify the current zoning regulations with Burbank Planning.
Renovation Needed: The listing targets contractors, suggesting the property requires significant renovation or repairs.
High Lease Price: The lease price is $9000 per month, which may be considered high for the area and could deter potential tenants.

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