For more information contact:

1110 LELAND WAY1110 Leland Way Burbank, CA 91504

Price: $1,850,000

Cindy Hill, CCIMExecutive Vice President818.846.1611cindyhill@kw.com00885625

Phone: 818-432-1500 ● Fax: 818-432-1501 ● 4061 Laurel Canyon Blvd. ● Studio City, CA 91604 ● www.valleyapartmentsales.com

PROPERTY HIGHLIGHTS

Pride of Ownership 5 unit building●

Built in 1990, not subject to rent control ●

Great mix of (3) 2+1 units and (2) 1+1  units with central HVAC units. All of them havebeen replaced. 

●

Tremendous upside in rents. Almost a 6 market Cap rate●

Close to Sprouts Market, Ralphs, Starbucks, In­N­Out Burger, and Burbank AMCtheatres

●

INVESTMENT DETAILS1110 Leland WayBurbank, CA 91504

All  information  furnished  regarding  property  for  sale,  rental  or  financing  is  from  sources  deemed  reliable,  but  no  warranty  or  representation  is  made  to  theaccuracy  thereof and same  is submitted subject  to errors, omissions, change of price,  rental or other conditions, prior sale,  lease or  financing or withdrawalwithout notice. No liability of any kind is to be imposed on the broker herein.

ANALYSIS

Analysis Date September 2019

PROPERTY

Property Type MultiFamily

Property 1110 Leland Way

Property Address 1110 Leland Way, Burbank, CA 91504

Year Built 1990

PURCHASE INFORMATION

Purchase Price $1,850,000

Units 5

Total Rentable Sq. Ft. 4,413

INCOME & EXPENSE

Gross Operating Income $95,904

Monthly GOI $7,992

Total Annual Expenses ($27,548)

Monthly Expenses ($2,296)

FINANCIAL INFORMATION

All Cash

LOANS

Type Debt Term Amortization Rate Payment LO Costs

EXECUTIVE SUMMARY1110 Leland WayBurbank, CA 91504

All  information  furnished  regarding  property  for  sale,  rental  or  financing  is  from  sources  deemed  reliable,  but  no  warranty  or  representation  is  made  to  theaccuracy  thereof and same  is submitted subject  to errors, omissions, change of price,  rental or other conditions, prior sale,  lease or  financing or withdrawalwithout notice. No liability of any kind is to be imposed on the broker herein.

ACQUISITION COSTS

Purchase Price, Points and Closing Costs $1,850,000

Investment ­ Cash $0

INVESTMENT INFORMATION

Purchase Price $1,850,000

Price per Unit $370,000

Price per Sq. Ft. $419.22

Income per Unit $19,759

Expenses per Unit ($5,510)

INCOME, EXPENSES & CASH FLOW

GROSS SCHEDULED INCOME $98,796

  Total Vacancy and Credits ($2,892)

  Operating Expenses ($27,548)

NET OPERATING INCOME $68,356

  Debt Service $0

CASH FLOW BEFORE TAXES $68,356

FINANCIAL INDICATORS

Debt Coverage Ratio N/A

Capitalization Rate 3.69%

Gross Rent Multiplier 18.73

Gross Income / Square Feet $22.39

Gross Expenses / Square Feet ($6.24)

Operating Expense Ratio 28.72%

PRO FORMA SUMMARY1110 Leland WayBurbank, CA 91504

INCOME 

Description Actual Per Unit Market Per Unit

Gross Potential Rent $96,396 $19,279 $130,800 $26,160

 ­ Less: Vacancy ($2,892) ($578) ($3,924) ($785)

 + Misc. Income $2,400 $480 $2,400 $480

Effective Gross Income $95,904 $19,181 $129,276 $25,855

OPERATING EXPENSES 

Description Actual Per Unit Market Per Unit

Property Tax $20,362 $4,072 $20,362 $4,072

Gas $1,043 $209 $1,043 $209

Water and Power $1,043 $209 $1,043 $209

Maintenance $2,500 $500 $2,500 $500

Misc.  $1,500 $300 $1,500 $300

Pest Control $600 $120 $600 $120

Gardener $500 $100 $500 $100

TOTAL EXPENSES ($27,548) ($5,510) ($27,548) ($5,510)

NET OPERATING INCOME $68,356 $13,671 $101,728 $20,346

PRO FORMA SUMMARY1110 Leland WayBurbank, CA 91504

UNIT MIX & MONTHLY SCHEDULED

Type Units Actual Total Market Total

1+1 2 $1,363 $2,725 $1,850 $3,700

2+1 3 $1,769 $5,308 $2,400 $7,200

TOTALS 5 $8,033 $10,900

ANNUALIZED INCOME 

Description Actual Market

Gross Potential Rent $96,396 $130,800

 ­ Less: Vacancy ($2,892) ($3,924)

 + Misc. Income $2,400 $2,400

Effective Gross Income $95,904 $129,276

 ­ Less: Expenses ($27,548) ($27,548)

Net Operating Income $68,356 $101,728

ANNUALIZED EXPENSES 

Description Actual Market

Property Tax $20,362 $20,362

Gas $1,043 $1,043

Water and Power $1,043 $1,043

Maintenance $2,500 $2,500

Misc.  $1,500 $1,500

Pest Control $600 $600

Gardener $500 $500

TOTAL EXPENSES $27,548 $27,548

EXPENSES PER RSF $6.24 $6.24

EXPENSES PER UNIT $5,510 $5,510

INVESTMENT SUMMARY 

PRICE $1,850,000

Year Built 1990

Units 5

Price/Unit $370,000

RSF 4,413

Price/RSF $419.22

Lot Size 8,055 sf

Floors 2

APN 2460­018­019

Cap Rate 3.69%

Market Cap Rate 5.5%

GRM 18.73

Market GRM: 13.89

PROPERTY DESCRIPTION1110 Leland WayBurbank, CA 91504

All  information  furnished  regarding  property  for  sale,  rental  or  financing  is  from  sources  deemed  reliable,  but  no  warranty  or  representation  is  made  to  theaccuracy  thereof and same  is submitted subject  to errors, omissions, change of price,  rental or other conditions, prior sale,  lease or  financing or withdrawalwithout notice. No liability of any kind is to be imposed on the broker herein.

5 units in Burbank | Built in 1990­Upside in rents     KW Commercial  is proud to represent this 5­unit apartment building. The property  is not subject to rent control and isalmost a 6 cap with pro forma rents. 

       The  building  was  constructed  in  1990.  Its  unit  mix  consists  of  (3)  two­bedroom,  one­bathroom  units  and  (2)  one­bedroom, one­bathroom units. With a lot size of 7,458 square feet, the property has a total of 4,413 rentable square feet.The  property  has  been  well  maintained  by  a  long  term  owner.  Property  has  central  Hvac,  units  which  have  all  beenreplaced, secured parking, owner­owned laundry machines, and upstair units have balconies. 

     The property  is  located  in Burbank, which  is a highly desirable rental market and is known as the media capital of theworld. It is home to Disney Studios, Warner Brothers, and NBC.The city has over 80 restaurants, 30 movie screens,and 200stores; its residents enjoy top ranked schools, easy access to the 5 and 134 freeways, and close proximity to the BurbankMetro Link. Burbank is not subject to rent control. 

     The property is separately metered for gas and electricity

UNIT RENT ROLL1110 Leland WayBurbank, CA 91504

All  information  furnished  regarding  property  for  sale,  rental  or  financing  is  from  sources  deemed  reliable,  but  no  warranty  or  representation  is  made  to  theaccuracy  thereof and same  is submitted subject  to errors, omissions, change of price,  rental or other conditions, prior sale,  lease or  financing or withdrawalwithout notice. No liability of any kind is to be imposed on the broker herein.

Unit Description Current Rent Pro Forma Rent Comments

1 2+1 $1,722 $2,400

2 2+1 $1,891 $2,400

3 2+1 $1,695 $2,400 Balcony

4 1+1 $1,352 $1,850

5 1+1 $1,373 $1,850 Balcony

UNIT MIX REPORT1110 Leland WayBurbank, CA 91504

All  information  furnished  regarding  property  for  sale,  rental  or  financing  is  from  sources  deemed  reliable,  but  no  warranty  or  representation  is  made  to  theaccuracy  thereof and same  is submitted subject  to errors, omissions, change of price,  rental or other conditions, prior sale,  lease or  financing or withdrawalwithout notice. No liability of any kind is to be imposed on the broker herein.

Units Type Approx. SqFt Avg. Rents Monthly Mkt Rents Monthly

2 1+1 0 $1,363 $2,725 $1,850 $3,700

3 2+1 0 $1,769 $5,308 $2,400 $7,200

5 0 $8,033 $10,900

UNIT MIX  UNIT MIX SQUARE FEET 

● 1+1

● 2+1

● 1+1

● 2+1

UNIT MIX INCOME  UNIT MIX MARKET INCOME 

● 1+1

● 2+1

● 1+1

● 2+1

PROPERTY PHOTOS1110 Leland WayBurbank, CA 91504

MAPS AND AERIALS1110 Leland WayBurbank, CA 91504

All  information  furnished  regarding  property  for  sale,  rental  or  financing  is  from  sources  deemed  reliable,  but  no  warranty  or  representation  is  made  to  theaccuracy  thereof and same  is submitted subject  to errors, omissions, change of price,  rental or other conditions, prior sale,  lease or  financing or withdrawalwithout notice. No liability of any kind is to be imposed on the broker herein.

5 Units in Burbank

City of Burbank

www.ValleyApartmentSales.com

Throughout its 100 year history, Burbank has been home to a crea ve, forward‐

thinking community. Its residents enjoy a high quality of life, with close proximity

to recrea onal ac vi es like the Chandler Bike‐way and Stough Canyon Nature

Center; its library, the Buena Vista Branch Library, is newly expanded and state

of the art. The city also boats strong local non‐profit and community service

projects, as it was named one of the na on’s 100 Best Communi es for Young

people. Burbank is known as the media capital of the world, as it is home to

Disney Studios, Warner Bros, Nickelodeon, and NBC.

The city has over 80 restaurants, 30 movie screens, and 200 shops, and its

residents enjoy top ranked schools – making it a highly desirable rental market.

Addi onally, residents have easy access to the 5 and 134 freeways, the

Burbank Metro link, and the Hollywood‐Burbank airport.

SALE COMPARABLES1110 Leland WayBurbank, CA 91504

All  information  furnished  regarding  property  for  sale,  rental  or  financing  is  from  sources  deemed  reliable,  but  no  warranty  or  representation  is  made  to  theaccuracy  thereof and same  is submitted subject  to errors, omissions, change of price,  rental or other conditions, prior sale,  lease or  financing or withdrawalwithout notice. No liability of any kind is to be imposed on the broker herein.

Subject 1 2 3 5 6 7 8 9 A B C D

1%

2%

3%

4%

5%

6%

7%

8%

9%

10%

Avg.

3.581

Cap Rate

Subject 1 2 3 5 6 7 8 9

3.0

6.0

9.0

12.0

15.0

18.0

21.0

24.0

27.0

30.0

Avg.

18.763

Gross Rent Multiplier

SALE COMPARABLES1110 Leland WayBurbank, CA 91504

All  information  furnished  regarding  property  for  sale,  rental  or  financing  is  from  sources  deemed  reliable,  but  no  warranty  or  representation  is  made  to  theaccuracy  thereof and same  is submitted subject  to errors, omissions, change of price,  rental or other conditions, prior sale,  lease or  financing or withdrawalwithout notice. No liability of any kind is to be imposed on the broker herein.

Subject 1 2 3 4 5 6 7 8 9 A B C D

$48,000

$96,000

$144,000

$192,000

$240,000

$288,000

$336,000

$384,000

$432,000

$480,000

Avg.

$384,245

Price per Unit

Subject 1 2 3 4 5 6 7 8 9 A B C D

$48

$96

$144

$192

$240

$288

$336

$384

$432

$480

Avg.

$408.06

Price per Sq. Ft.

SALE COMPARABLES1110 Leland WayBurbank, CA 91504

All  information  furnished  regarding  property  for  sale,  rental  or  financing  is  from  sources  deemed  reliable,  but  no  warranty  or  representation  is  made  to  theaccuracy  thereof and same  is submitted subject  to errors, omissions, change of price,  rental or other conditions, prior sale,  lease or  financing or withdrawalwithout notice. No liability of any kind is to be imposed on the broker herein.

S 1110 Leland Way1110 Leland WayBurbank, CA 91504

Sale Price $1,850,000

Units 5

Price/Unit $370,000

Price/SqFt $419.22

Cap Rate 3.69%

Year Built 1990

GRM 18.73

# Units Unit Type

2 1+1

3 2+1

1 623 E Cedar Ave623 E Cedar AveBurbank, CA 91501

Sale Price $4,500,000

Units 11

Price/Unit $409,091

Price/SqFt $393.74

Cap Rate 2.83%

Year Built 1984Sale Date 7/9/2018

GRM 20.7

# Units Unit Type

1 One Bedroom One Bath

10 Two Bedroom Two Bath

2 310 E Elmwood Ave310 E Elmwood AveBurbank, CA 91502

Sale Price $3,650,000

Units 8

Price/Unit $456,250

Price/SqFt $362.68

Cap Rate 4.13%

Year Built 1987Sale Date 10/26/2018

GRM 16.0

# Units Unit Type

8 Two Bedroom Two Bath

SALE COMPARABLES1110 Leland WayBurbank, CA 91504

All  information  furnished  regarding  property  for  sale,  rental  or  financing  is  from  sources  deemed  reliable,  but  no  warranty  or  representation  is  made  to  theaccuracy  thereof and same  is submitted subject  to errors, omissions, change of price,  rental or other conditions, prior sale,  lease or  financing or withdrawalwithout notice. No liability of any kind is to be imposed on the broker herein.

3 2127 N Lincoln St2127 N Lincoln StBurbank, CA 91504

Sale Price $2,224,000

Units 6

Price/Unit $370,667

Price/SqFt $381.87

Cap Rate 3.44%

Year Built 1990Sale Date 8/24/2018

GRM 20.0

# Units Unit Type

2 Two Bedroom Two Bath

2 Three Bedroom Two Bath

2 Other

4 501 E Magnolia Blvd501 E Magnolia BlvdBurbank, CA 91501

Sale Price $4,710,000

Units 12

Price/Unit $392,500

Price/SqFt $380.58

Cap Rate N/A

Year Built 1987Sale Date 2/15/2018

GRM N/A

# Units Unit Type

4 One Bedroom One Bath

8 Two Bedroom One Bath

5 313 E Providencia Ave313 E Providencia AveBurbank, CA 91502

Sale Price $2,925,000

Units 8

Price/Unit $365,625

Price/SqFt $473.68

Cap Rate 3.73%

Year Built 1987Sale Date 5/10/2018

GRM 18.2

# Units Unit Type

6 One Bedroom One Bath

2 Two Bedroom Two Bath

SALE COMPARABLES1110 Leland WayBurbank, CA 91504

All  information  furnished  regarding  property  for  sale,  rental  or  financing  is  from  sources  deemed  reliable,  but  no  warranty  or  representation  is  made  to  theaccuracy  thereof and same  is submitted subject  to errors, omissions, change of price,  rental or other conditions, prior sale,  lease or  financing or withdrawalwithout notice. No liability of any kind is to be imposed on the broker herein.

6 316 E Santa Anita Ave316 E Santa Anita AveBurbank, CA 91502

Sale Price $2,950,000

Units 8

Price/Unit $368,750

Price/SqFt $476.42

Cap Rate 3.8%

Year Built 1986Sale Date 4/13/2018

GRM 18.3

# Units Unit Type

6 One Bedroom One Bath

2 Two Bedroom Two Bath

7 507 E Cedar Ave507 E Cedar AveBurbank, CA 91501

Sale Price $7,150,000

Units 20

Price/Unit $357,500

Price/SqFt $425.19

Cap Rate 3.12%

Year Built 1989Sale Date 7/27/2018

GRM 18.4

# Units Unit Type

6 One Bedroom One Bath

14 Two Bedroom Two Bath

8 635 E Cypress Ave635 E Cypress AveBurbank, CA 91501

Sale Price $4,250,000

Units 9

Price/Unit $472,222

Price/SqFt $447.18

Cap Rate 3.72%

Year Built 1989Sale Date 11/15/2018

GRM 18.4

# Units Unit Type

9 Two Bedroom Two Bath

SALE COMPARABLES1110 Leland WayBurbank, CA 91504

All  information  furnished  regarding  property  for  sale,  rental  or  financing  is  from  sources  deemed  reliable,  but  no  warranty  or  representation  is  made  to  theaccuracy  thereof and same  is submitted subject  to errors, omissions, change of price,  rental or other conditions, prior sale,  lease or  financing or withdrawalwithout notice. No liability of any kind is to be imposed on the broker herein.

9 2430 N Naomi St. 2430 N Naomi St. Burbank, CA 91504

Sale Price $8,335,000

Units 26

Price/Unit $320,577

Price/SqFt $364.74

Cap Rate 2.68%

Year Built 1988Sale Date 3/20/2018

GRM 20.1

# Units Unit Type

10 One Bedroom One Bath

14 Two Bedroom Two Bath

2 Three Bedroom Two Bath

A 530 E Santa Anita Ave530 E Santa Anita AveBurbank, CA 91501

Sale Price $6,800,000

Units 16

Price/Unit $425,000

Price/SqFt $436.12

Cap Rate 3.6%

Year Built 1987Sale Date 1/11/2019

GRM N/A

# Units Unit Type

16 Two Bedroom Two Bath

B 244 W Spazier Ave244 W Spazier AveBurbank, CA 91502

Sale Price $4,704,000

Units 12

Price/Unit $392,000

Price/SqFt $417.47

Cap Rate 3.79%

Year Built 1989Sale Date 2/15/2019

GRM N/A

# Units Unit Type

12 Two Bedroom Two Bath

SALE COMPARABLES1110 Leland WayBurbank, CA 91504

All  information  furnished  regarding  property  for  sale,  rental  or  financing  is  from  sources  deemed  reliable,  but  no  warranty  or  representation  is  made  to  theaccuracy  thereof and same  is submitted subject  to errors, omissions, change of price,  rental or other conditions, prior sale,  lease or  financing or withdrawalwithout notice. No liability of any kind is to be imposed on the broker herein.

C 2329 N Lincoln St. 2329 N Lincoln St. Burbank, CA 91504

Sale Price $1,650,000

Units 6

Price/Unit $275,000

Price/SqFt $346.71

Cap Rate 4.58%

Year Built 1951Sale Date 5/14/2019

GRM N/A

# Units Unit Type

2 One Bedroom One Bath

3 Two Bedroom One Bath

1 Three Bedroom Two Bath

D 544 E Tujunga Ave. 544 E Tujunga Ave. Burbank, CA 91501

Sale Price $3,900,000

Units 10

Price/Unit $390,000

Price/SqFt $398.45

Cap Rate 3.55%

Year Built 1987Sale Date 5/22/2019

GRM N/A

# Units Unit Type

2 One Bedroom One Bath

8 Two Bedroom Two Bath

SALE COMPARABLES1110 Leland WayBurbank, CA 91504

All  information  furnished  regarding  property  for  sale,  rental  or  financing  is  from  sources  deemed  reliable,  but  no  warranty  or  representation  is  made  to  theaccuracy  thereof and same  is submitted subject  to errors, omissions, change of price,  rental or other conditions, prior sale,  lease or  financing or withdrawalwithout notice. No liability of any kind is to be imposed on the broker herein.

S 1110 Leland WayBurbank, CA, 91504$1,850,000

1 623 E Cedar AveBurbank, CA, 91501$4,500,000

2 310 E Elmwood AveBurbank, CA, 91502$3,650,000

3 2127 N Lincoln StBurbank, CA, 91504$2,224,000

4 501 E Magnolia BlvdBurbank, CA, 91501$4,710,000

5 313 E Providencia AveBurbank, CA, 91502$2,925,000

6 316 E Santa Anita AveBurbank, CA, 91502$2,950,000

7 507 E Cedar AveBurbank, CA, 91501$7,150,000

8 635 E Cypress AveBurbank, CA, 91501$4,250,000

9 2430 N Naomi St. Burbank, CA, 91504$8,335,000

A 530 E Santa Anita AveBurbank, CA, 91501$6,800,000

B 244 W Spazier AveBurbank, CA, 91502$4,704,000

C 2329 N Lincoln St. Burbank, CA, 91504$1,650,000

D 544 E Tujunga Ave. Burbank, CA, 91501$3,900,000