1814 Grismer Ave — Sale in Burbank, CA

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Burbank, CA 91504

Investment Figures

Cap rate
5.46%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Marcus & Millichap is pleased to present 1814 Grismer Avenue, a 14-unit multifamily investment ideally positioned in North Burbank, one of Southern California’s most consistently sought-after rental markets. Tucked within a quiet residential pocket just minutes from Thomas Jefferson Elementary School, John Muir Middle School, and McCambridge Park & Recreation Center. A gated pool area provides an inviting space for residents to swim, sunbathe, and BBQ—an increasingly scarce amenity that enhances tenant satisfaction and long-term retention. The property also features a large on-site laundry room with seller-owned machines, allowing a new owner to enjoy immediate income without the burden of third-party leases. Constructed in 1961, the property spans approximately 9,906 square feet and is comprised of 10 one-bedroom/one-bath units, 2 two-bedroom/two-bath units, and 2 studio units. All units have separate meters for gas and electricity. Over the years, ownership has completed meaningful capital improvements, including roof replacement, upgraded windows, and a new main electrical panel, positioning the asset for stable performance with limited near-term capital needs. Strategically located north of the I-5 Freeway and west of North Glenoaks Boulevard, 1814 Grismer Avenue benefits from immediate access to premier retail and employment centers. The Burbank Empire Center, Burbank Town Center, and Costco Wholesale are all within approximately one mile. Glenoaks Boulevard and San Fernando Boulevard serve as major commercial corridors offering a diverse mix of dining, shopping, and professional services. Commuters enjoy seamless connectivity via the I-5 and CA-134 freeways, placing Studio City, Glendale, Los Feliz, Atwater Village, North Hollywood, Downtown Los Angeles, and the San Gabriel Valley all within easy reach. Located in the City of Burbank, the property may face a pending soft cap of 4% yearly rent increases. However, AB 1482 allows for more favorable rental increas

Market Context

This multifamily in Burbank, CA is listed for sale. It is offered at an approximate 5.5% capitalization rate, a key benchmark for income-producing multifamily assets. It has been on the market for 100 days. Compare it against other multifamily listings for sale in Burbank, CA — view the full market.

As of Q1 2026, the Greater Los Angeles multifamily market showed average asking rents near $2333.00/unit/mo, and cap rates around 5.0%. Source: multiple brokerage reports, Q1 2026.

Its 5.5% asking cap rate is above the Greater Los Angeles multifamily market average of about 5.0%, implying a higher yield (and typically more risk or upside) than comparable assets.

Multifamily market FAQ

What is the typical cap rate for multifamily in Greater Los Angeles?
About 5.0% as of Q1 2026, per multiple brokerage reports.

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