42
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$5,400,000
Est. payment /mo
3 Beds
3 Baths
Active
1063 Justin Avenue Glendale, CA 91201
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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
Property Sub-Type Res Income 2-4 Units
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
Location
State CA
County Los Angeles
Zoning Assessor
Direction From Brand Blvd go west on Glenoaks Blvd and make left on Justin Ave
Interior
Cooling Wall/Window
Fireplace No
Exterior
View Y/N No
Building
Story 2
Level or Stories 2
Others
Tax ID 5623026040
Virtual Tour https://growthinvestmentgroup.com/listingdetail.aspx?pid=10470
Listed by Han Chen Growth Investment Group Pasade