I've seen on home tours with my clients with apartment buildings next door. Here is a common idea to block the view of the adj. apartment building based on my home tour experience. Plant tall trees or bamboo along your property to add beautiful landscape to your property and hiding the apartment building.
Best of luck!
Keller Williams Realty
Yes you are correct - purchasing a home near and/or adjacent to apartment buildings may affect the value as location, location, location is always the better rule. However you can look at location as having a sub-category of location. What we mean is that if you want to live in Burbank and this is the only option you have - you still basically live in Burbank. There are trade offs to everything and one can focus on the apartments or one can focus on the city and all that it has to offer. An awesome school district, our own police and fire departments, close to and easy access to Los Angeles and The Westside, family friendly and community oriented.
Here's an example - back in 1989-1992 homes adjacent to the railroad tracks off of Buena Vista sold at approx $150k-189k and in today's market prices are around $$389k-$400k. One got the noise from the trains, the busy street and.... well you get the picture - prices still increased and rents still went up.
Prices will tend to increase, people will continue to move in and out of Burbank and the city will continue to grow. Look at all that has changed in Burbank in a short 25 years.
Look at the purchase as a long term investment - something to call and make home. Whether you live in it to start a new life, have kids or raise your kids or move sooner than 25 yrs - as long as you enjoy it and are happy with it - that's all that matters. Remember you can always hold and keep it has an investment - no rent control will only give you more possibilities and who's to say that in the future some developer of condos or mega apartment complexes won't make you an offer to buy you out.
There are risks to everything - just buy whatever you purchase with the thought and intent of making it home ~ Everything else will work itself out.
Good luck :D
Norma and Kyle
The Achievers Group
RE/MAX Town Center