For more information contact:

440 E SAN JOSE440 East San Jose Avenue Burbank, CA 91501

Price: $3,095,000

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

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

PROPERTY HIGHLIGHTS

Pride of ownership Burbank 8­plex●

Located on one of the best streets in Burbank●

Tremendous upside in rents­not subject to rent control●

Excellent unit mix­large units●

Walking distance to the Burbank mall●

INVESTMENT DETAILS440 East San Jose AvenueBurbank, CA 91501

All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty orrepresentation is made to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or otherconditions, prior sale, lease or financing or withdrawal without notice. No liability of any kind is to be imposed on the broker herein.

ANALYSIS

Analysis Date January 2020

PROPERTY

Property Type MultiFamily

Property 440 E San Jose 

Property Address 440 East San Jose Avenue, Burbank, CA 91501

Year Built 1960

PURCHASE INFORMATION

Purchase Price $3,095,000

Units 8

Total Rentable Sq. Ft. 8,501

INCOME & EXPENSE

Gross Operating Income $170,136

Monthly GOI $14,178

Total Annual Expenses ($53,258)

Monthly Expenses ($4,438)

FINANCIAL INFORMATION

All Cash

LOANS

Type Debt Term Amortization Rate Payment LO Costs

Page 02

EXECUTIVE SUMMARY440 East San Jose AvenueBurbank, CA 91501

All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty orrepresentation is made to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or otherconditions, prior sale, lease or financing or withdrawal without notice. No liability of any kind is to be imposed on the broker herein.

ACQUISITION COSTS

Purchase Price, Points and Closing Costs $3,095,000

Investment ­ Cash $0

INVESTMENT INFORMATION

Purchase Price $3,095,000

Price per Unit $386,875

Price per Sq. Ft. $364.07

Income per Unit $21,912

Expenses per Unit ($6,657)

INCOME, EXPENSES & CASH FLOW

GROSS SCHEDULED INCOME $175,296

  Total Vacancy and Credits ($5,160)

  Operating Expenses ($53,258)

NET OPERATING INCOME $116,878

  Debt Service $0

CASH FLOW BEFORE TAXES $116,878

FINANCIAL INDICATORS

Debt Coverage Ratio N/A

Capitalization Rate 3.78%

Gross Rent Multiplier 17.66

Gross Income / Square Feet $20.62

Gross Expenses / Square Feet ($6.26)

Operating Expense Ratio 31.30%

Page 03

PRO FORMA SUMMARY440 East San Jose AvenueBurbank, CA 91501

All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty orrepresentation is made to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or otherconditions, prior sale, lease or financing or withdrawal without notice. No liability of any kind is to be imposed on the broker herein.

INCOME 

Description Actual Per Unit Market Per Unit

Gross Potential Rent $171,996 $21,500 $195,000 $24,375

 ­ Less: Vacancy ($5,160) ($645) ($5,850) ($731)

 + Misc. Income $3,300 $413 $3,300 $413

Effective Gross Income $170,136 $21,267 $192,450 $24,056

OPERATING EXPENSES 

Description Actual Per Unit Market Per Unit

Property Taxes $34,653 $4,332 $34,653 $4,332

Phone $1,960 $245 $1,960 $245

Gardener $2,000 $250 $2,000 $250

Pest Control $564 $71 $564 $71

Gas $1,493 $187 $1,493 $187

DWP $4,051 $506 $4,051 $506

Insurance $3,537 $442 $3,537 $442

Misc $1,500 $188 $1,500 $188

Maintenance  $3,500 $438 $3,500 $438

TOTAL EXPENSES ($53,258) ($6,657) ($53,258) ($6,657)

NET OPERATING INCOME $116,878 $14,610 $139,192 $17,399

Page 04

PRO FORMA SUMMARY440 East San Jose AvenueBurbank, CA 91501

All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty orrepresentation is made to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or otherconditions, prior sale, lease or financing or withdrawal without notice. No liability of any kind is to be imposed on the broker herein.

UNIT MIX & MONTHLY SCHEDULED

Type Units Actual Total Market Total

1+1 2 $1,648 $3,295 $1,725 $3,450

2+1 2 $1,934 $3,868 $2,100 $4,200

2+1.5 4 $1,793 $7,170 $2,150 $8,600

TOTALS 8 $14,333 $16,250

ANNUALIZED INCOME 

Description Actual Market

Gross Potential Rent $171,996 $195,000

 ­ Less: Vacancy ($5,160) ($5,850)

 + Misc. Income $3,300 $3,300

Effective Gross Income $170,136 $192,450

 ­ Less: Expenses ($53,258) ($53,258)

Net Operating Income $116,878 $139,192

ANNUALIZED EXPENSES 

Description Actual Market

Property Taxes $34,653 $34,653

Phone $1,960 $1,960

Gardener $2,000 $2,000

Pest Control $564 $564

Gas $1,493 $1,493

DWP $4,051 $4,051

Insurance $3,537 $3,537

Misc $1,500 $1,500

Maintenance  $3,500 $3,500

TOTAL EXPENSES $53,258 $53,258

EXPENSES PER RSF $6.26 $6.26

EXPENSES PER UNIT $6,657 $6,657

INVESTMENT SUMMARY 

PRICE $3,095,000

Year Built 1960

Units 8

Price/Unit $386,875

RSF 8,501

Price/RSF $364.07

Lot Size 8,844 sf

Floors 1

APN 2455­036­010

Cap Rate 3.78%

Market Cap Rate 4.5%

GRM 17.66

Market GRM: 15.61

Page 05

PROPERTY DESCRIPTION440 East San Jose AvenueBurbank, CA 91501

All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty orrepresentation is made to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or otherconditions, prior sale, lease or financing or withdrawal without notice. No liability of any kind is to be imposed on the broker herein.

8­Unit Apartment Complex in Burbank

       KW Commercial is proud to represent this 8­unit apartment building.        The building was constructed in 1960. Its unit mix consists of (2) one­bedroom, one­bathroom units, (2) two­bedroom,one­bathroom units, and (4) two­bedroom, one­and­a­half bathroom units. With a lot size of 8,444 square feet, the propertyhas a total of 8,501 rentable square feet.        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, and200  stores;  its  residents  enjoy  top  ranked  schools,  easy  access  to  the 5  and 134  freeways,  and close proximity  to  theBurbank Metro Link. Burbank is not subject to rent control.

Page 06

UNIT RENT ROLL440 East San Jose AvenueBurbank, CA 91501

All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty orrepresentation is made to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or otherconditions, prior sale, lease or financing or withdrawal without notice. No liability of any kind is to be imposed on the broker herein.

Unit Description Current Rent Pro Forma Rent Comments

1 1+1 $1,525 $1,725  

2 2+1.5 $1,775 $2,150  

3 2+1.5 $1,775 $2,150  

4 1+1 $1,770 $1,725  

5 2+1.5 $1,775 $2,150  

6 2+1.5 $1,845 $2,150  

7 2+1 $1,795 $2,100  

8 2+1 $2,073 $2,100  

Page 07

UNIT MIX REPORT440 East San Jose AvenueBurbank, CA 91501

All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty orrepresentation is made to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or otherconditions, prior sale, lease or financing or withdrawal without 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 $1,648 $3,295 $1,725 $3,450

2 2+1 0 $1,934 $3,868 $2,100 $4,200

4 2+1.5 0 $1,793 $7,170 $2,150 $8,600

8 0 $14,333 $16,250

UNIT MIX  UNIT MIX SQUARE FEET 

● 1+1

● 2+1

● 2+1.5

● 1+1

● 2+1

● 2+1.5

UNIT MIX INCOME  UNIT MIX MARKET INCOME 

● 1+1

● 2+1

● 2+1.5

● 1+1

● 2+1

● 2+1.5

Page 08

Landscaped Front FacadeLandscaped Side FacadeLaundryAerial View of PropertyStreet View (East)Street View (West)

PROPERTY PHOTOS440 East San Jose AvenueBurbank, CA 91501 Page 09

MAPS AND AERIALS440 East San Jose AvenueBurbank, CA 91501

All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty orrepresentation is made to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or otherconditions, prior sale, lease or financing or withdrawal without notice. No liability of any kind is to be imposed on the broker herein.

Page 10

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 COMPARABLES440 East San Jose AvenueBurbank, CA 91501

All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty orrepresentation is made to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or otherconditions, prior sale, lease or financing or withdrawal without notice. No liability of any kind is to be imposed on the broker herein.

Subject 1 2 3 4 5 6 7 8 9

1%

2%

3%

4%

5%

6%

7%

8%

9%

10%

Avg.

4.007

Cap Rate

Subject 2 3 4 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.

16.925

Gross Rent Multiplier

Page 12

SALE COMPARABLES440 East San Jose AvenueBurbank, CA 91501

All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty orrepresentation is made to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or otherconditions, prior sale, lease or financing or withdrawal without notice. No liability of any kind is to be imposed on the broker herein.

Subject 1 2 3 4 5 6 7 8 9

$44,000

$88,000

$132,000

$176,000

$220,000

$264,000

$308,000

$352,000

$396,000

$440,000

Avg.

$338,327

Price per Unit

Subject 1 2 3 4 5 6 7 8 9

$50

$100

$150

$200

$250

$300

$350

$400

$450

$500

Avg.

$427.68

Price per Sq. Ft.

Page 13

SALE COMPARABLES440 East San Jose AvenueBurbank, CA 91501

All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty orrepresentation is made to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or otherconditions, prior sale, lease or financing or withdrawal without notice. No liability of any kind is to be imposed on the broker herein.

S

440 E San Jose 440 East San Jose Avenue, Burbank, CA 91501

Sale Price $3,095,000

Units 8

Price / Unit $386,875

Price/SqFt $364.07

Lot Size 8,844

Cap Rate 3.78%

GRM 17.66

Year Built 1960

# Units Unit Type

2 1+1

2 2+1

4 2+1.5

1

2514 W Clark Ave2514 W Clark Ave, Burbank, CA 91505

Sale Price $2,170,000

Units 5

Price / Unit $434,000

Price/SqFt $499.19

Cap Rate 3.7%

Year Built 1944

Sale Date 9/25/2018

# Units Unit Type

5 2 Bedroom / 1 Bath

2

1412 N Keystone St1412 N Keystone, Burbank, CA 91506

Sale Price $2,725,000

Units 7

Price / Unit $389,286

Price/SqFt $435.03

Lot Size 7,462

Cap Rate 3.8%

GRM 16.3

Year Built 1961

Sale Date 6/14/2018

# Units Unit Type

7 2 Bedroom / 1 Bath

Page 14

SALE COMPARABLES440 East San Jose AvenueBurbank, CA 91501

All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty orrepresentation is made to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or otherconditions, prior sale, lease or financing or withdrawal without notice. No liability of any kind is to be imposed on the broker herein.

3

724 E Magnolia Blvd724 E Magnolia Blvd, Burbank, CA 91501

Sale Price $1,615,000

Units 5

Price / Unit $323,000

Price/SqFt $488.65

Lot Size 7,484

Cap Rate 4.91%

GRM 17.6

Year Built 1930

Sale Date 2/14/2019

# Units Unit Type

2 Studio/Efficiency

2 1 Bedroom / 1 Bath

1 2 Bedroom / 1 Bath

4

1920 W Verdugo Ave1920 W Verdugo Ave, Burbank, CA 91506

Sale Price $2,095,000

Units 6

Price / Unit $349,167

Price/SqFt $395.28

Lot Size 6,373

Cap Rate 3.03%

GRM 20.3

Year Built 1953

Sale Date 5/14/2018

Days­On­Market 23

# Units Unit Type

4 1 Bedroom / 1 Bath

1 2 Bedroom / 1 Bath

5

303 E Alameda Ave303 E Alameda Ave, Burbank, CA 91502

Sale Price $8,000,000

Units 20

Price / Unit $400,000

Price/SqFt $455.27

Lot Size 13,826

Cap Rate 4.31%

GRM 15.6

Year Built 1963

Sale Date 4/30/2019

# Units Unit Type

6 1 Bedroom / 1 Bath

14 2 Bedroom / 2 Bath

Page 15

SALE COMPARABLES440 East San Jose AvenueBurbank, CA 91501

All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty orrepresentation is made to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or otherconditions, prior sale, lease or financing or withdrawal without notice. No liability of any kind is to be imposed on the broker herein.

6

1314 W Burbank Blvd. 1314 West Burbank Boulevard, Burbank, CA 91506

Sale Price $1,200,000

Units 6

Price / Unit $200,000

Price/SqFt $277.39

Lot Size 5,902

Cap Rate 3.38%

GRM 16.4

Year Built 1953

Sale Date 12/11/2019

# Units Unit Type

6 Studio/Efficiency

7

198 W Elmwood Ave. 198 West Elmwood Avenue, Burbank, CA 91502

Sale Price $1,934,950

Units 6

Price / Unit $322,492

Price/SqFt $402.78

Lot Size 7,510

Cap Rate 4.5%

GRM 15.3

Year Built 1953

Sale Date 11/6/2019

# Units Unit Type

6 2 Bedroom / 1 Bath

8

225 Valencia 225 East Valencia Avenue, Burbank, CA 91502

Sale Price $2,880,000

Units 10

Price / Unit $288,000

Price/SqFt $434.13

Lot Size 14,493

Cap Rate 4.0%

GRM 17.7

Year Built 1948

Sale Date 12/13/2019

# Units Unit Type

6 1 Bedroom / 1 Bath

4 2 Bedroom / 1 Bath

Page 16

SALE COMPARABLES440 East San Jose AvenueBurbank, CA 91501

All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty orrepresentation is made to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or otherconditions, prior sale, lease or financing or withdrawal without notice. No liability of any kind is to be imposed on the broker herein.

9

304 E Verdugo Ave. 304 East Verdugo Avenue, Burbank, CA 91502

Sale Price $3,051,000

Units 9

Price / Unit $339,000

Price/SqFt $461.36

Lot Size 7,405

Cap Rate 4.43%

GRM 16.2

Year Built 1961

Sale Date 12/11/2019

# Units Unit Type

1 Studio/Efficiency

7 1 Bedroom / 1 Bath

1 3 Bedroom / 2 Bath

Page 17

SALE COMPARABLES440 East San Jose AvenueBurbank, CA 91501

All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty orrepresentation is made to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or otherconditions, prior sale, lease or financing or withdrawal without notice. No liability of any kind is to be imposed on the broker herein.

S 440 East San Jose AvenueBurbank, CA, 91501$3,095,000

1 2514 W Clark AveBurbank, CA, 91505$2,170,000

2 1412 N KeystoneBurbank, CA, 91506$2,725,000

3 724 E Magnolia BlvdBurbank, CA, 91501$1,615,000

4 1920 W Verdugo AveBurbank, CA, 91506$2,095,000

5 303 E Alameda AveBurbank, CA, 91502$8,000,000

6 1314 West Burbank BoulevardBurbank, CA, 91506$1,200,000

7 198 West Elmwood AvenueBurbank, CA, 91502$1,934,950

8 225 East Valencia AvenueBurbank, CA, 91502$2,880,000

9 304 East Verdugo AvenueBurbank, CA, 91502$3,051,000

Page 18