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315 E Valencia Avenue, Burbank, California 91502, Burbank, 91502 - bed, bath

315 E Valencia Avenue, Burbank, California 91502 home-pic-0
ACTIVE$1,695,000
315 E Valencia Avenue, Burbank, California 91502
0Bed
0Bath
2,412Sqft
7,339Lot
Year Built
1948
Close
-
List price
$1.7M
Original List price
$1.85M
Price/Sqft
$703
HOA
-
Days on market
-
Sold On
-
MLS number
P1-20646
Home ConditionPoor
Features
Patio
View-

About this home

We found 3 Cons,5 Pros. Rank: price - $1.70M(75th), sqft - 2412(75th), beds - undefined(50th), baths - undefined(50th).

315 Valencia Ave, a fantastic 4-unit multi-family property in the heart of Burbank, CA. This well-maintained building offers a unique opportunity for investors or those looking to live in one unit while renting out the others. Each unit features its own distinct layout, providing ample living space and comfortable accommodations for tenants. The property is conveniently located near shopping, dining, and entertainment options, making it an ideal location for renters. With strong rental demand in the area and ADU opportunities, this property is a great addition to any real estate portfolio. Don't miss out on this prime opportunity in Burbank!

Condition Rating
Poor
Built in 1948, the property is over 75 years old. While the exterior appears well-maintained, the interior images, particularly of the kitchen and bathroom, reveal severely outdated styles and features. The kitchen has older white appliances, dated laminate countertops, basic wood cabinets, and fluorescent lighting, suggesting no significant renovation in 30-50 years. The bathroom also features very dated tile, vanity, and lighting. These areas would require substantial renovation to meet current standards and appeal, aligning with the 'poor' condition criteria for properties built over 30 years ago with no major renovations in the past 30-50 years.
Pros & Cons

Pros

Income-Generating Asset: As a quadruplex, this property offers multiple rental income streams, making it an attractive investment for generating consistent cash flow or for an owner-occupier to offset mortgage costs.
Prime Burbank Location: Situated in the heart of Burbank, the property benefits from strong rental demand and convenient access to shopping, dining, and entertainment, enhancing tenant appeal and property value.
ADU Potential: The explicit mention of ADU opportunities indicates potential for future expansion, allowing for increased rental income and significant appreciation in property value.
Recent Price Adjustment: A notable reduction from the original list price ($1,850,000 to $1,695,000) suggests a more competitive offering and potential for a favorable acquisition for buyers.
Well-Maintained Condition: Described as a 'well-maintained building,' this suggests a property that has been cared for, potentially reducing immediate capital expenditures for general upkeep.

Cons

Property Age: Built in 1948, the property is over 75 years old, which may lead to aging infrastructure (e.g., plumbing, electrical, roof) and potentially higher long-term maintenance or renovation costs.
Lack of Financial Transparency: The description does not provide crucial financial details such as current rental income, occupancy rates, or operating expenses, making it challenging for investors to immediately assess cash flow and return on investment.
Ambiguous Unit Condition: While 'unique layouts' are mentioned, there is no specific information regarding the interior condition, recent renovations, or amenities of the individual units, which could impact tenant attraction and required upgrade costs.

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