Updated Dec 18, 2023
Highest Ever Price Per Unit: Burbank Apartment Sells For $6.8M
530 East Santa Anita Avenue, Burbank, CA 91501
$6,800,000
$436/SF
Building Size
15,596 SF
Asset Type
Other
Closing
Jan 10, 2019
About this deal
AI
Gregory H. Alexanian of Alexanian Advisors recently closed a notable sale in Burbank, California. The property in question is an apartment building located at 530 E Santa Anita Ave. This spacious complex offers a total of 16 units, spread across a sizable 15,596 square feet. The sale price for this apartment asset was an impressive $6,800,000, which amounts to a price per square foot of $436. This transaction stands out as the highest-ever price per unit achieved for a 10+ unit apartment in Burbank.
Summary of transaction details:
- Property Type: Apartment
- Transaction Amount: $6,800,000
- Property Size: 15,596 square feet
- Price per Square Foot: $436
- Number of Units: 16
- Address: 530 E Santa Anita Ave, Burbank
Alexanian Advisors, led by Gregory H. Alexanian, facilitated this successful deal. With expertise in the Burbank and Glendale markets, Alexanian Advisors has closed over 2,900 units in these areas.
Burbank Other Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.33%
Cash-on-Cash
-0.67%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93