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3815 W Heffron Dr, Burbank, California 91505, Burbank, 91505 - bed, bath

3815 W Heffron Dr, Burbank, California 91505 home-pic-0
ACTIVE$1,899,000
3815 W Heffron Dr, Burbank, California 91505
0Bed
0Bath
3,094Sqft
6,298Lot
Year Built
1951
Close
-
List price
$1.9M
Original List price
$1.98M
Price/Sqft
$614
HOA
-
Days on market
-
Sold On
-
MLS number
BB25098081
Home ConditionFair
Features
Patio
View-

About this home

We found 3 Cons,5 Pros. Rank: price - $1.90M(80th), sqft - 3094(80th), beds - undefined(50th), baths - undefined(50th).

3815 W Heffron Dr is a rare, character-rich triplex in the heart of Burbank. Each of the three units offers a private yard or patio, creating a warm, inviting atmosphere that truly feels like home. The property has been meticulously maintained, from its painted walkway to the immaculate interiors and lush outdoor spaces. Three detached garages provide secure parking and offer incredible potential for ADU conversion—the entire footprint of each garage can be utilized, presenting a major value-add opportunity. With its charm, flexibility, and upside, this is a property that truly stands out. The building is 33% leased, giving the new owner flexibility to set market rents or move in! With a current cap rate of 4.46% and a pro forma of 5.02%, this investment has strong upside. Located minutes from Disney, Warner Bros., NBC, and Universal Studios, and nestled beside Toluca Lake, it offers unbeatable access to top restaurants, Whole Foods, boutique shopping, and Griffith Park. 3815 W Heffron Dr is a standout opportunity in one of Burbank's most desirable neighborhoods—don’t miss your chance to own this rare gem!

Condition Rating
Fair
The property, built in 1951, is described as 'meticulously maintained' with 'immaculate interiors,' which is evident in the cleanliness of the images. However, the kitchens, while functional, show signs of being outdated; Kitchen 1 features older white appliances and basic finishes, and Kitchen 2, while having some updates like a subway tile backsplash and stainless steel dishwasher, still has older cabinet styles and a basic light fixture. The presence of window AC units suggests a lack of central air conditioning, indicating that major systems are likely original or have not been significantly updated to modern standards. While the property is move-in ready and well-kept, it requires minor updates to bring it to current aesthetic and functional expectations, aligning with the 'Fair' condition criteria.
Pros & Cons

Pros

Prime Location: Situated in the heart of Burbank, minutes from major studios (Disney, Warner Bros., NBC, Universal Studios) and desirable amenities like Toluca Lake, Whole Foods, boutique shopping, and Griffith Park, ensuring high tenant demand and strong appreciation potential.
ADU Conversion Potential: Three detached garages offer significant value-add opportunity through potential Accessory Dwelling Unit (ADU) conversion, allowing for increased rental income and property value.
Income & Value Upside: Currently 33% leased, providing the new owner flexibility to set market rents for vacant units and achieve a strong pro forma cap rate of 5.02%, indicating substantial investment upside.
Meticulously Maintained: The character-rich triplex has been meticulously maintained, from its painted walkway to immaculate interiors and lush outdoor spaces, minimizing immediate capital expenditures for the new owner.
Private Outdoor Spaces: Each of the three units features a private yard or patio, a highly desirable amenity that enhances tenant appeal and quality of life, contributing to higher occupancy rates and rental values.

Cons

Partial Occupancy: With only 33% of units currently leased, the new owner will incur immediate costs and effort for marketing and leasing the vacant units, impacting initial cash flow until full occupancy is achieved.
Age of Property: Built in 1951, the property, despite being well-maintained, may eventually require significant updates to major systems such as plumbing, electrical, or HVAC, which are not explicitly detailed as having been recently upgraded.
Price Reduction: The property has undergone a price reduction from its original list price of $1,975,000 to $1,899,000, which could suggest it was initially overpriced or has faced challenges attracting buyer interest at the higher valuation.

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