2907 West Riverside Drive

2907 West Riverside Drive presents a rare value-add opportunity in Burbank’s coveted Media District. This fully renovated four-unit low-rise multifamily asset, constructed in 1942 and refreshed in 2025, offers a compact 3,023 rentable square feet on a 0.15-acre site. With covered parking for all four units and a 97% occupancy rate, the property delivers immediate cash flow while benefiting from modern finishes and improved curb appeal.

Priced at $1,625,000, or $537.55 per square foot, the investment offers an in-place net operating income of $70,258, yielding a 4.32% cap rate. Pro forma stabilization at market rents of $2,475 per unit (currently $2,121) projects a NOI of $86,729 and a 5.34% cap rate. With an historical gross rent multiplier of 15.96 and a potential GRM of 13.68 upon achieving market-rate rents, investors can capitalize on significant revenue upside.

This four-unit property features an average unit size of 756 square feet, with rents currently 17% below comparable market levels—providing a clear path to immediate rent growth and increased asset value. Recent capital improvements and strong demand in the area underscore the long-term stability of cash flows, while the BUR4 zoning allows for potential future density enhancements.

Strategically located along West Riverside Drive, tenants enjoy easy access to major studios, retail corridors and entertainment hubs. This turnkey multifamily offering combines immediate income, value-add potential and prime location fundamentals, making it an ideal addition to any seasoned or first-time investor’s portfolio.