242 N Cordova Street, Burbank, California 91505

$995,000

Bedrooms

4

Bathrooms

3

Square Feet

2,320 sqft

City

Burbank

Status

Active

242 N. Cordova St. presents an FHA-eligible triplex located in the heart of Burbank's Media District; positioned within a quiet residential pocket just north of the 134 Freeway, and approx. 0.6 miles from the core of one of LA's most established entertainment employment hubs. Major studios including Warner Bros., Walt Disney Studios, and ABC Television anchor the surrounding area, while the nearby Burbank Media District continues to evolve with a growing mix of restaurants, coffee shops, and neighborhood retail that cater to both industry professionals and long-term residents. The property also benefits from proximity to the Burbank Portfolio, a 3.2M+ SF collection of Class A office buildings owned by Blackstone and Worthe Real Estate Group. Offered at $995,000, the property is priced at approx. $331,667 per unit and $429 per SF, presenting an accessible entry point into a submarket where demand is consistently driven by proximity to major employment centers. The offering includes a VACANT one-bdrm unit, creating a clear owner-user opportunity supported by favorable FHA financing terms and the ability to offset occupancy costs with in-place rental income from the remaining units. At the rear of the property is a detached structure featuring (3) individual one-car garages, along with additional driveway and surface parking. The garage configuration may present future ADU potential, subject to buyer verification, offering an additional layer of long-term upside beyond the existing unit mix. Additional amenities include a private front lawn and backyard patio areas that lend themselves to outdoor use, whether for entertaining, casual dining, or day-to-day tenant enjoyment. The units are separately metered for gas and electricity, providing operational flexibility for future ownership. From an investment standpoint, the property presents approx. 72% rental upside based on renovated comparable units in the surrounding Burbank market. At projected market rents, the asset is expected to stabilize at a 5.70% CAP and 12.19 GRM, offering a clear path to improved long-term performance while maintaining a manageable unit count and strong underlying fundamentals. Taken together, 242 N. Cordova St. offers a rare combination of owner-user flexibility, meaningful rental upside, and immediate proximity to Burbank's core studio employment base; positioning the asset for both stable in-place performance and long-term growth.**Please contact LA2 for additional info**.