124 N Naomi Street
Burbank, CA, 91505
$2,095,000
MLS: 26997677
Beds
5
Baths
4
Sq Ft
4,846
Lot
0.30 ac
Year Built
1941
MLS #
26997677
Days on Market
10
Listed
Oct 7, 2026
Description
Rare 13K Sq Ft Burbank Lot with 4 Structures Totaling Nearly 5K Sq Ft with 16-Car Parking & Further Development Potential!!! Rare investment and development opportunity in Burbank! Situated on an expansive 13,143-square-foot lot, this unique property features approximately 5,000 square feet of existing structures across four separate buildings, creating multiple avenues for an investor, developer or owner seeking a property with significant income and expansion potential. The property currently includes a 1,569-square-foot 3-bedroom, 2-bathroom main house, a separate 432-square-foot guesthouse with a kitchen and full bathroom, an approximately 400-square-foot detached two-car garage with Junior ADU potential, and an impressive two-story RV garage of approximately 1,900 square feet with full RV hookups and substantial vehicle storage. Above the RV garage is an additional approximately 600-square-foot studio apartment with kitchenette, full bathroom and private outdoor terrace. Income potential is a key component of this property. The multiple existing living spaces provide the opportunity to generate income from separate units while retaining the flexibility to occupy one or more spaces. The combination of residential structures, additional studio space, garage space and substantial parking creates a variety of potential income-producing configurations. The property also offers exceptional parking, with indoor parking for up to 8 vehicles plus gated driveway parking for up to 8 additional vehicles; an uncommon asset in Burbank and an attractive feature for tenants, businesses, collectors, contractors or other specialized users. For investors and developers, the 13k sqft lot provides an additional layer of opportunity. Potential future expansion and lot division under SB9 may allow for the creation of a separate parcel and additional units, subject to applicable zoning, regulations and approvals. Buyers can explore the property's potential while benefiting from the substantial existing improvements already in place. Located near Burbank Studios, Warner Bros. Studios and Universal Studios, as well as major retailers, hospitals, schools and convenient freeway access. The property is also located within the Stevenson Elementary School and John Burroughs High School Districts, adding to its appeal in the Burbank rental and residential market. A rare opportunity to acquire a large Burbank lot with multiple existing structures, income potential, significant parking and future development possibilities offering investors the flexibility to pursue immediate income, long-term appreciation, expansion or a combination of strategies.
Location
Burbank, Los Angeles County, CA 91505
Open on Google Maps ↗Listed by: Kristin Neithercut · Compass
Listing information is provided courtesy of the Greater Antelope Valley Association of Realtors (GAVAR) and California Regional MLS (CRMLS). Information is deemed reliable but not guaranteed accurate by the MLS or by Mike Watson. All data, including square footage, lot size, room count, permits, and school assignment, should be independently verified. Properties shown may be listed by brokerages other than Keller Williams Realty. Listings are subject to prior sale, change, or withdrawal without notice.
Payment estimate
$16,323
/ month (est.)
Principal, interest, taxes, and insurance + PMI. Down payment: $209,500 · Loan: $1,885,500
Average 30-yr fixed rate 7.40% as of Oct 15, 2026 (Freddie Mac PMMS). Adjust to your quote.
- Principal & Interest
- $13,055
- Property tax (1.25%)
- $2,182
- Homeowners insurance
- $300
- Mortgage insurance
- $786
Login required. The full tool supports FHA / VA / USDA, PMI by credit tier, lender fees, and total cash to close — with your inputs here carried over.
Today's Rates
As of Oct 15, 2026
- 30-year fixed
- 7.40%
- 15-year fixed
- 6.71%
Source: Freddie Mac Primary Mortgage Market Survey (PMMS). Updated weekly.
About the area · Mike Watson
About the Antelope Valley
The Antelope Valley spans Lancaster, Palmdale, Quartz Hill, Rosamond, Lake Los Angeles, California City, Edwards AFB, and the Plant 42 aerospace corridor. Mike Watson is a lifelong AV resident and the #1 producing individual Realtor in the region by transaction count. Every active listing on this site is paired with a free market analysis tailored to the specific street, honest financing guidance (FHA, VA, USDA, CalHFA, conventional, and assumable loans where the financing supports it), and side-by-side comparisons against the rest of the active inventory in your target ZIP.
Financing Options
FHA Financing — 3.5% Down＋
First-time and repeat buyers can purchase this Burbank home with as little as 3.5% down using an FHA loan — roughly $73,325 down. FHA loans feature flexible credit guidelines and government-backed rates, making homeownership accessible for buyers who haven't saved a large down payment. Seller concessions up to 6% of the purchase price are also allowed.
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