Backup offers3D tour
$3,036 Closing Credit¹
#TR24224447, Caroline Chai, Listing Office: Abraiday Inc.
#BB24247060·
Listing Office: City Center Realty Group·
Listing Agent: Steve Hovakimyan·
Listing Office Phone: 818-845-5551
240-260 E Providencia Ave Burbank, CA 91502
$5,975,000 List price
0.4 acres
Condo
Property details
About 240-260 E Providencia Ave
Stunning Multifamily Investment Opportunity in Burbank : 240-260 E. Providencia We are excited to present this meticulously renovated 15-unit multifamily property located in the heart of Burbank, renowned as the Media Capital of the World. This exceptional investment opportunity is situated in one of the region’s most sought-after rental markets, offering strong returns and long-term growth potential. Property Highlights: Prime Location: Nestled on a 17,821-square-foot lot with 100 feet of street frontage across two parcels. Diverse Unit Mix: (12) One-bedroom, one-bathroom units (2) Two-bedroom, one-bathroom units (1) Two-bedroom, two-bathroom unit Bonus: A 153-square-foot storage room that can be converted into an office. Rentable Space: 8,202 square feet of updated, income-generating units. Attractive Financials: Enjoy an in-place 6.08% CAP rate, making this an outstanding investment for cash flow and value appreciation. This property represents the ideal combination of a renovated asset, diverse floor plans, and an exceptional location, making it a premier choice for savvy investors looking to capitalize on Burbank’s ever-growing rental demand. Don’t miss the chance to add this jewel to your portfolio!
Highlights
Home typeCondominium
HeatingCentral
StatusActive
CoolingCentral Air
Lot size0.4091 Acres
Year built1951
MLS #BB24247060
Summary
- MLS Number: BB24247060
- MLS Name: CRMLS
- Office Name: City Center Realty Group
- Office Phone: (818) 845-5551
- Listing Agent: Steve Hovakimyan
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
The information being provided by California Regional Multiple Listing Service, Inc. (“CRMLS”) is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Any information relating to a property referenced on this web site comes from CRMLS. Properties may or may not be listed by the office/agent presenting the information. Real estate listings held by brokerage firms other than this broker are marked with the Internet Data Exchange logo and detailed information about them includes the names of the listing brokers and listing agents. MLS search engine provided by IHR Technology Services. This data is updated every 2 hours. Some properties appearing for sale on this display may subsequently have sold and may no longer be available.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 2/1/2025, 3:20:54 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Get an agent. Get a mortgage. Save big.¹
$5,975,000
240-260 E Providencia Ave
Sell your home with Rocket and save even more!
Seller rebate
0.5% sale price²
Price information
Property sales
We're sorry, we currently don't have property sales data for this listing.
Tax history
We're sorry, we currently don't have tax history data for this listing.
Nearby schools
6
William McKinley Elementary School
Public District KG-5
0.7 mi
•349 W Valencia Ave
6
Joaquin Miller Elementary School
Public District KG-5
0.7 mi
•720 E Providencia Ave
7
Walt Disney Elementary School
Public District KG-5
0.8 mi
•1220 W Orange Grove Ave
School ratings are a score out of 10, where 10 is the highest and 1 is the lowest.
Neighborhood
The neighbors living near this home have an average income of $30,948. Most Burbank, CA residents have annual incomes less than $<35k. Most families are single, no kids. Residents of this area typically have post secondary degree education.
How much money do the neighbors make?
55%
<35k
29%
35k-100k
14%
100k-200k
2%
200k+
What level of education do the neighbors have?
High School Diploma
Post Secondary Degree
Masters Degree
What types of families live nearby?
67%
Single, No Kids
5%
Single, with Kids
22%
Married, No Kids
6%
Married, with Kids
Are the neighbors home owners or renters?
Home Owners
Renters
How old are people in this area?
5%
<11 yrs old
4%
12-17 yrs old
29%
18-34 yrs old
29%
35-64 yrs old
33%
65+ yrs old
What do the neighbors do for fun?
Major League Soccer (MLS)
Art Museums
Hiking/backpacking
Where do the neighbors shop?
Banana Republic
Bloomingdales
H&M
Where do the neighbors go to eat?
Jack In The Box
Starbucks
Chipotle
What do the neighbors drive?
Toyota
Audi
Volkswagen
What do the neighbors listen to?
Jazz
News
Alternative
All data provided by Home Junction and Claritas
Similar homes for sale
New - 4 days on Rocket
$10,000 Closing Credit¹
#PW25019510, Alicia Wright, Listing Office: First Team Real Estate North Tustin
$10,000 Closing Credit¹
#SR25003909, Cindy Hill, Listing Office: Equity Union
New - 4 days on Rocket
$6,347 Closing Credit¹
#25489525, Tom Edwards, Listing Office: Keller Williams Beverly Hills
$8,491 Closing Credit¹
#SR24229546, Swarna Chalamalasetti, Listing Office: Park Regency Realty
3D tour
$6,876 Closing Credit¹
#PW24200915, Yoomi Won, Listing Office: Redpoint Realty
$6,822 Closing Credit¹
#SR25014187, Jackie Ovsepyan, Listing Office: Coldwell Banker Realty
$3,432 Closing Credit¹
#GD24224049, Amjad Albasel, Listing Office: Luxury Collective
$10,000 Closing Credit¹
#SR24052054, Richard Valdez, Listing Office: Valdez Realty
New - 4 days on Rocket
$8,894 Closing Credit¹
#25490133, Larry Cole, Listing Office: Compass
Frequently asked questions
About 240-260 E Providencia Ave
This home is located at 240-260 E Providencia Ave in Burbank, CA and zip code 91502 in the The Verdugos neighborhood. Features: 0 bathroom. It has been listed on Rocket Homes since December 14, 2024 and is currently priced at $5,975,000.
Over 29 listings were sold over their listed price in December 2024 in Burbank, CA. In the same period over 17 listings were sold below the listed price and 8 listings were sold for the listed price. The number of homes for sale in Burbank, CA decreased by 7.5% between November and December 2024. While the average time on the market in December 2024 was 20 days, the median list price was $1,167,400.
From Rocket Homes Real Estate and based on county public records data.