1063 Justin Avenue, Glendale, CA 91201

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Glen Henderson

Premier Homes Team, a division of Big Block Realty

[email protected] +1(619) 889-7646

$5,400,000

Est. payment - /mo

3 Beds

3 Baths

7,327 Sqft Lot

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Key Details

Property Type Multi-Family

Sub Type Res Income 2-4 Units

Listing Status Active

Purchase Type For Sale

MLS Listing ID AR25026754

Bedrooms 3

HOA Y/N No

Lot Size 7,327 Sqft

Property Sub-Type Res Income 2-4 Units

Type of Financing Cash

Property Description

5.44% ACTUAL CAP RATE - Cash-flowing day 1 without needing to upgrade any unit! Year 2 CAP Rate is 6.27% 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
5.44% ACTUAL CAP RATE - Cash-flowing day 1 without needing to upgrade any unit! Year 2 CAP Rate is 6.27% 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 faade, 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.

Location

State CA

County Los Angeles

Area Glendale (91201)

Zoning Assessor

Interior

Cooling Wall/Window

Air Conditioning Wall/Window

Exterior

Parking Features Unit1:Assigned

Building

Story 2

Lot Size Range 4000-7499 SF

Level or Stories 2 Story

Others

Acceptable Financing Cash

Space Rent $3,195

Listing Terms Cash

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Listed by Han Chen • Growth Investment Group Pasade

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Glen Henderson

+1(619) 889-7646

Broker Associate | CA BRE #01384181

Broker Associate CA BRE #01384181

San Diego Communities

1063 Justin Avenue Glendale, CA 91201

Glen Henderson

Key Details

Location

Interior

Exterior

Building

Others

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