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Listed by Han Chen • Growth Investment Group Pasade
$5,600,000
Est. payment /mo
7,327 Sqft Lot
New
1063 Justin Avenue Glendale, CA 91201
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UPDATED:
02/06/2025 09:16 AM
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRAR25026754
HOA Y/N No
Originating Board Datashare California Regional
Year Built 1963
Lot Size 7,327 Sqft
Property 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 upg
Location
State CA
County Los Angeles
Interior
Heating Wall Furnace
Cooling Wall/Window Unit(s)
Flooring Vinyl, Wood
Fireplace No
Appliance Dryer
Laundry Dryer, Washer, Other
Exterior
View Mountain(s)
Building
Lot Description Level, Other
Water Public
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