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514 Shelton Street
Burbank, CA 91506
Sold
514 North Shelton Street is an 8-unit multifamily investment opportunity located in Burbank, CA. 514 North Shelton Street offers a desirable mix consisting exclusively of spacious two-bedroom townhome units, each offering two-and-one-half bathrooms. The property features an attractive amenity package including an on-site laundry facility, private balconies (select units), and a gated subterranean parking garage. Additionally, units feature vinyl and tile flooring, central air conditioning, and stainless steel appliances. Burbank’s continued strong rental metrics, including a 2022 vacancy rate of just 3.5 percent and year-over-year rent growth of 9.8 percent, provide a new owner with the opportunity to take advantage of the substantial demand for rental units in the area. With current rents below market rates, 514 North Shelton Street represents an attractive opportunity for a new owner. 514 North Shelton Street benefits from its excellent Burbank location, situated moments from a plethora of retail, dining, and entertainment options at Burbank Town Center. Furthermore, residents enjoy the property’s close proximity to an abundance of major retailers along Victory Boulevard and Victory Place. Additionally, 514 North Shelton Street is proximate to an abundance of film studios as well as to Interstate 5, connecting residents to local and regional employment hubs throughout Los Angeles County. In summary, 514 North Shelton Street’s fantastic location offers residents a wide variety of activities, employment, transportation, and retail amenities, all of which will attract a diverse renter pool. This overall demand for a well-located and maintained apartment building will be a key driver in the continued growth and success at 514 North Shelton Street.
PROPERTY INFORMATION
| MLS # | OC23181573 | Lot Size | 6,534 Sq. Ft. |
| HOA Fees | $0/Monthly | Property Type | Apartment |
| Price | $ 3,450,000
Price Per SqFt: $ 372 |
DOM | 583 Days |
| Address | 514 Shelton Street | Type | Residential Income |
| City | Burbank | Sq.Ft. | 9,280 Sq. Ft. |
| Postal Code | 91506 | Garage | 16 |
| County | Los Angeles | Year Built | 1987 |
| Bed / Bath | 2 / 0 | Parking | 16 |
| Built In | 1987 | Status | Closed |
| Sold Date | 2024-01-16 |
INTERIOR FEATURES
| Has Laundry | Yes |
| Laundry Information | Community |
| EntryLocation | First Floor |
| Entry Level | 1 |
EXTERIOR FEATURES
| Has Pool | No |
| Pool | None |
WALKSCORE
MAP
MORTGAGE CALCULATOR
- Principal & Interest:
- Property Tax: $3,680
- Home Insurance:$119
- HOA Fees:$0
- Mortgage Insurance:
PRICE HISTORY
| Date | Event | Price |
| 01/16/2024 | Sold | $3,250,000 |
| 11/21/2023 | Pending | $3,450,000 |
| 10/31/2023 | Active Under Contract | $3,450,000 |
Topfind Realty
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(844)-333-8033
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Listing provided courtesy of Tyler Leeson, Marcus & Millichap RE Invest. Based on information from California Regional Multiple Listing Service, Inc. as of #Date#. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
