2611 W Wyoming Avenue Burbank, CA 91505

2611 W Wyoming Ave is a low-maintenance triplex in prime Burbank for an unheard of price of $950,000! This property boasts a better price per SF, price per unit, GRM AND cap rate than its Burbank comps! 2611 W Wyoming is made up of three one bedroom, one bathroom units- one of which was fully renovated in 2021 and quickly attracted a stellar tenant. The current cap rate is 4.12% and there is huge upside potential. We project a very conservative pro forma cap rate of 5.04%! These units are located in an incredibly walkable location off Burbank Blvd and Buena Vista. Only minutes on foot to the Chandler Bike Path, Magnolia Park, and an unlimited supply of cafes and restaurants such as The Ugly Mug, Caf De Olla, Dinos Pizza, and Coral Cafe. A few minute drive will take you to Costco, Downtown Burbank (and the Burbank Town Center), and the Empire Center, home of Target, TJ Maxx, Marshalls, Walmart, and so much more. The property boasts other notable features including: one 2-car garage and one 1-car garage accessed from a convenient alley (possible ADU conversion), high, character wood-beamed ceilings that make the units appear extremely spacious, a newly coated roof as of 2020, a sewer line replaced in 2013, recently updated outside electrical, and most importantly, one fully renovated unit!
2611 W Wyoming Ave is a low-maintenance triplex in prime Burbank for an unheard of price of $950,000! This property boasts a better price per SF, price per unit, GRM AND cap rate than its Burbank comps! 2611 W Wyoming is made up of three one bedroom, one bathroom units- one of which was fully renovated in 2021 and quickly attracted a stellar tenant. The current cap rate is 4.12% and there is huge upside potential. We project a very conservative pro forma cap rate of 5.04%! These units are located in an incredibly walkable location off Burbank Blvd and Buena Vista. Only minutes on foot to the Chandler Bike Path, Magnolia Park, and an unlimited supply of cafes and restaurants such as The Ugly Mug, Caf De Olla, Dinos Pizza, and Coral Cafe. A few minute drive will take you to Costco, Downtown Burbank (and the Burbank Town Center), and the Empire Center, home of Target, TJ Maxx, Marshalls, Walmart, and so much more. The property boasts other notable features including: one 2-car garage and one 1-car garage accessed from a convenient alley (possible ADU conversion), high, character wood-beamed ceilings that make the units appear extremely spacious, a newly coated roof as of 2020, a sewer line replaced in 2013, recently updated outside electrical, and most importantly, one fully renovated unit!