1700 Grismer AVE Active Save Request In-Person Tour Request Virtual Tour
Burbank,CA 91504
Key Details
Property Type Condo
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
MLS Listing ID BB25062782
HOA Y/N No
Year Built 1941
Lot Size 10,602 Sqft
Property Sub-Type Apartment
Property Description
This is an incredible value-add opportunity situated in a highly desirable area of Burbank. Boasting a generous 10,603 sq. ft. lot, this property offers significant development potential—possibility to build up to 10 units, subject to verification and approval by the City of Burbank. Buyers are encouraged to conduct their own due diligence with the city to explore the full scope of development options.
Currently, the property features six well-maintained residential units, thoughtfully distributed across three separate garden-style buildings. The unit mix includes:
Three (3) units with 1 bedroom and 1 bathroom, and
Three (3) units with 2 bedrooms and 1 bathroom.
Each unit offers a comfortable and functional living space, and five out of six units are equipped with central heating and air conditioning for year-round comfort. The interiors have been meticulously maintained, reflecting pride of ownership, and several long-term tenants add stability to this income-producing asset.
Parking accommodations include a 4-car carport and three uncovered parking spaces, offering a total of 7 on-site parking spots. A coin-operated laundry area, conveniently located within one of the carports, provides additional income potential and convenience for tenants.
Notably, the last two units were originally one large single-family residence that has been divided into two separate units—this alteration may have been done without permits, and buyers should investigate accordingly.
To enhance the appeal, the seller is offering seller financing, and is willing to carry the first trust deed with 40% down payment for a term of two years, with competitive interest rates. This is a rare chance to secure a valuable investment with favorable financing terms.
Offers are subject to inspection
Location
State CA
County Los Angeles
Area 610 - Burbank
Zoning BUR4*
Interior
Heating Central
Cooling Central Air
Fireplaces Type None
Fireplace No
Laundry Common Area,In Garage
Exterior
Garage Spaces 6.0
Carport Spaces 4
Garage Description 6.0
Fence Block,Chain Link
Pool None
Community Features Gutter(s),Street Lights,Sidewalks
Roof Type Composition
Total Parking Spaces 12
Private Pool No
Building
Lot Description Back Yard,Front Yard,Level,Rectangular Lot
Story 1
Entry Level One
Sewer Public Sewer
Water Public
Architectural Style Bungalow
Level or Stories One
New Construction No
Others
Senior Community No
Tax ID 2468007030
Energy Description 720.0
Acceptable Financing Owner Will Carry
Listing Terms Owner Will Carry
Special Listing Condition Standard