1063 Justin Avenue

Glendale, CA 91201

  • 0 Bed(s)
  • 0 Bath(s)
  • 0 Sqft
  • 7327
    Sqft(Lot)
$5,600,000

Description

±5.20% actual cap rate - cash-flowing day 1 without needing to upgrade any unit! year 2 cap rate is 6.01% with an annual rent increase. the 1063, a high cap rate turnkey luxury 12-unit apartment community located in the highly desirable city of glendale, bordered by the city of burbank. the property offers superb location (walkscore 86) with access to many amenities, within walking distance to ikea burbank, burbank downtown, many shopping centers, close to schools, parks, local and national retailers, dining and upscale shopping, entertainment, and easy access to freeways (5 fwy and 134 fwy). the offering is unique due to its prime location, high cap rate, and turnkey conditions. new owner can enjoy high quality location, asset, and good cash flow immediately without the hardships of relocating tenants and managing construction crews.



1063 justin is a beautifully upgraded and maintained garden style apartment community built in 1963. it is a two-story walkup apartment consisting of 12 units. it offers a beautifully landscaped (drought tolerant) center courtyard common area. it offers a superb unit mix of four (4) large 2 bed + 1 bath units, six (6) spacious 1 bed + 1 bath units, and two (2) studio units. each unit one has been fully upgraded with full electrical and plumbing upgrades (plumbing upgrade in unit), new high durability wood vinyl and tile flooring in bathroom, new windows throughout, in-unit combo washer/dryer, state of the art mini-split hvac systems, new kitchen with quartz kitchen countertop and new kitchen cabinets and stainless-steel kitchen appliances (gas range, dishwasher, and refrigerator), and new bathrooms with new vanities, toilets, bathtubs, and name brand fixtures.



the exterior upgrades include a new façade, new exterior paint and signage, new entry gate, completely redone landscaping, updated electrical, and much more! each unit is large with an excellent layout. one of the 2bedroom unit has a private balcony. the property is separately metered for electricity and gas. the property offers a single level gated parking area with 11 parking spaces. it is serviced by a master water heater and has additional shared laundry room.

  • Property Type

    Residential Income

  • County

    Los Angeles

  • Style

    Mid-Century Modern

  • AD ID

    48521568

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Property Details

  • Water/Sewer

    • Water Source : Public
    • Sewer : Public Sewer

    Interior Features

    • Roof : Flat
    • Windows: Double Pane Windows
    • Property Appliances: Dishwasher,Disposal,Gas Range,Microwave,Refrigerator,Range Hood,Dryer,Washer
    • Fireplace: None
    • Flooring: Vinyl,Wood

    Cooling Features

    • Wall/Window Unit(s)
    • Air Conditioning

    Heating Source

    • Wall Furnace
    • Has Heating

    Fireplace

    • Fireplace Features: None
    • Has Fireplace: 0

  • Building Information

    • Year Built: 1963
    • Roof: Flat

    Accessibility Features

    • None

    Pool Features

    • None

    Laundry Features

    • Washer Hookup,Gas Dryer Hookup

    Fencing

    • Wrought Iron

  • Lot Details

    • Lot Dimensions Source: Vendor Enhanced
    • Lot Size Acres: 0.1682
    • Lot Size Source: Assessor
    • Lot Size Square Feet: 7327

  • Listing Price Information

    • Original List Price: 5,600,000
    • Listing Contract Date: 2025-02-05

    Lease Information

    • Listing Agreement: Exclusive Right To Sell

  • Tax Information

    • Parcel Number: 5623026040

  • Garage and Parking

    • Garage Description: Assigned

    Homeowners Association

    Rental Info

    • Lease Term: Negotiable
    • Tenant Pays: Electricity,Gas

  • Other Property Info

    • Source Listing Status: Active
    • Source Neighborhood: 626 - Glendale-Northwest
    • Directions: From Brand Blvd go west on Glenoaks Blvd and make left on Justin Ave
    • Zoning: GLC3*
    • Source Property Type: Residential Income
    • Area: 626 - Glendale-Northwest
    • Property SubType: Apartment

    Building and Construction

    • Property Age: 62
    • Common Walls: 2+ Common Walls
    • Property Condition: Updated/Remodeled,Turnkey
    • Structure Type: Apartment
    • Year Built Source: Assessor
    • Entry Level: 1
    • Entry Location: 1
    • Property Attached: Yes
    • Levels or Stories: Two
    • Building Total Stories: 2
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BuyOwner last updated this listing 02/22/2025 @ 11:10

  • MLS: AR25026754
  • LISTING PROVIDED COURTESY OF: ,
  • SOURCE: CRMLS

is a Home, with 0 bedrooms which is for sale, it has 0 sqft, 7,327 sized lot, and 11 parking. A comparable Home, has bedrooms and baths, it was built in and is located at and for sale by its owner at . This home is located in the city of Glendale , in zip code 91201, this Los Angeles County Home are nearby neighborhoods.