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2001-2005 Grismer Ave
Burbank, CA 91504 Vega

$5,500,000 USD

Apartments For Sale • 11,334 SF

Property Details

Property Type Apartments
Total Building Size 11,334 SF
Lot Size 0.26 AC
Building Class B
Year Built 1987
Zoning R4

40 Transit Score

60 Walk Score

                
                    Highlights
                
                                Subject to AB 1482, Not LA RSO – Located in the City of Burbank, the property is exempt from LA Rent Stabilization and benefits from AB 1482. 
                            
                                Significant Rental Upside – Average in-place rents of $2,203/month are approximately $556 below market.
                            
                                Vacancy Resets Proven – Unit 204 leased in 2025 for $2,500/month, demonstrating the ability to capture near-market rents upon turnover.
                            
                                Seven Units Drive Immediate Upside – Units 101, 102, 103, 104, 105, 203, and 206 generate over $43,000 in annual upside at market rents.
                            
                                Consistent 2BR/2BA Unit Mix – All 14 units feature the same two-bedroom, two-bath layout, simplifying leasing, management, and rent growth analysis.
                            
                                Strong Burbank Fundamentals – Desirable North Burbank location with stable renter demand, limited supply, and proximity to major employment centers.

Amenities

Courtyard
Laundry Facilities
Microwave
Recycling
Kitchen
Oven
Range

Public Transportation

Commuter Rail	Drive	Walk	Distance
	4 min	-	1.8 mi
Burbank-Bob Hope Airport (Ventura County Line - Southern California Regional Rail Authority (Metrolink))	5 min	-	1.9 mi
Airport	Drive	Walk	Distance
Bob Hope	8 min	-	4.0 mi
Los Angeles International	42 min	-	27.6 mi
Long Beach (Daugherty Field)	47 min	-	33.4 mi

Parking Details

Parking Available:	Yes
Reserved:	No
Spaces Provided:	28
Type:	Covered
Included in Rent:	Yes

Morgan Wetmore 949-233-0604 Marcus & Millichap

2001-2005 Grismer Ave Burbank, CA 91504 Vega