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1063 Justin Avenue

Glendale, CA 91201

– beds
– baths
– sqft
7,327 sqft lot
1963 build
– on site

5.10% CAP Rate without doing any renovation! 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 (Walk score 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.

Listed By CRMLS_CA / Han Chen / Growth Investment Group Pasade / 626-224-2495

Last checked: Checking… • Last updated Apr 20, 2024 •

MLS# AR24078643 —

The Building

Year Built:

1963
Year Built Source:

Assessor
New Construction:

No
Roof:

Flat
Entry Level:

1
Common Walls:

2+ Common Walls
Faces:

East
Number With Patio:

2
Building Area Units:

Square Feet
# of Buildings:

1
Total Number Of Units:

12
Stories Total:

2
# of Separate Gas Meters:

13
# of Separate Water Meters:

1
# of Separate Electric Meters:

13

Interior

Levels:

Two
Entry Location:

1
Window Features:

Double Pane Windows
Flooring:

Laminate, Vinyl, Wood
Number Wall AC:

12
Fireplace:

No
Fireplace:

None
Laundry:

Dryer Included, Gas Dryer Hookup, Washer Hookup, Washer Included
Laundry:

1

Location

Directions:

cross street is Glenoaks Blvd
Latitude:

34.16949200
Longitude:

-118.28832100

The Property

Property Type:

Residential Income
Subtype:

Apartment
Property Condition:

Turnkey
Zoning:

GLC3*
Lot Features:

Landscaped, Level with Street, Rectangular Lot, Near Public Transit
Lot Size Area:

7327.0000
Lot Size Acres:

0.1682
Lot Size SqFt:

7327.00
Lot Size Source:

Assessor
View:

1
View:

Mountain(s)
Fencing:

Wrought Iron
Fence:

Yes
Road Surface Type:

Paved
Property Attached:

1
Additional Parcels:

No
Land Lease:

No

Listing Agent

Contact info:

Taxes

Tax Census Tract:

3016.01
Tax Tract:

3196
Tax Lot:

69

The Listing

Buyer's Brokerage Compensation:

2.000%
Virtual Tour
Special Listing Conditions:

Standard
Buyer's Brokerage Compensation:

$2
Parcel Number:

5623026040

Heating & Cooling

Heating:

1
Heating:

Wall Furnace
Cooling:

Yes
Cooling:

ENERGY STAR Qualified Equipment, SEER Rated 16+, Wall/Window Unit(s)

Utilities

Utilities:

Cable Connected, Electricity Connected, Natural Gas Connected, Phone Available, Sewer Connected, Water Connected
Sewer:

Public Sewer
Electric:

Standard
Water Source:

Public

Appliances

Appliances:

Dishwasher, Gas Range, Microwave, Range Hood, Refrigerator
Included:

Yes

The Community

Senior Community:

No
Neighborhood:

north Glendale - near Ikea Burbank
Features:

Urban
Pool:

None
Private Pool:

No
Spa Features:

None
Association:

No
Assessments:

Yes
Assessments:

Buyer to Verify

Parking

Parking:

Yes
Parking:

Assigned
Parking Spaces:

11.00
Garage Spaces:

11.00

Extra Units

Number With Disposal:

12
Number With Dishwasher:

12
Number With Refrigerator:

12

Explore the Area

My Commute

From

Walk Score®

Provided by WalkScore® Inc.

Bike Score®

Provided by WalkScore® Inc.

Transit Score®

Provided by WalkScore® Inc.

Soundscore™

Provided by HowLoud

Sale history

Date	Event	Source	Price	% Change
4/19/24 Apr 19, 2024	Listed / Active	CRMLS_CA	$5,720,000	75.2% (26.8% / YR)
10/6/23 Oct 6, 2023	Listed / Active	CRMLS_CA
8/31/23 Aug 31, 2023	Price Changed	CRMLS_CA

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This multifamily located in Grandview, Glendale, CA 91201 is currently for sale for $5,720,000. 1063 Justin Avenue is a – square foot multifamily with – beds and – baths that has been on Estately for 13 days. 1063 Justin Avenue is in the Grandview neighborhood of Glendale and has a WalkScore® of 87, making it very walkable. This multifamily is in the attendance area of Thomas Jefferson Elementary School, Eleanor J. Toll Middle School, and Herbert Hoover Senior High School.

Listing Courtesy of: CRMLS_CA and Growth Investment Group Pasade. Based on information from California Regional Multiple Listing Service, Inc. as of 12:07 on May 02.

This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

The offer of compensation listed above is made to, and can only be accepted by, participants of the multiple listing service in which this listing is filed.