1128 Irving Avenue

Description

With the majority of the units completely remodeled in recent years, the property offers improved cash flow along with a road map to add value to the remaining units. The property is not subject to Los Angeles Rent Control, instead allowing an investor to more rapidly increase rents via AB 1482. Featuring a separate two-bedroom house in front of a quadruplex, the property benefits from extensive upgrades in recent years. Remodeled units feature in-unit washer/dryers, updated kitchens and bathrooms, recessed lighting, and wood flooring. This location features strong tenant demographics, with several major employers nearby in both Glendale and Burbank. Walt Disney Studios, Warner Brothers Studios, Walt Disney Imagineering, and Dreamworks Animation are all within a short distance. The Los Angeles Zoo, Griffith Park, Universal Studios, and the Los Angeles Equestrian Center are all situated near the property as well. The high-end Americana at Brand and the remodeled Glendale Galleria are both a short drive from the property, as are the Burbank Town Center and Burbank Empire Shopping Center. The largest IKEA store in North America sits within blocks of the property, as do Trader Joe's, Ralphs, CVS, The Home Depot, and Smart & Final.

Listing information courtesy of: Roderick 'Rick' Raymundo, Marcus & Millichap . *Based on information from the Association of REALTORS/Multiple Listing as of 09/19/2024 and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. 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. Properties may or may not be listed by the office/agent presenting the information.