1063 Justin AVE, Glendale, CA 91201
- $5,400,000
Listed by Handoko Chen, from Growth Investment Group Pasade
(If provided) CoList: from
- List Price
- $5,400,000
- MLS#
- CRAR26165942
- Status
- ACTIVE
- Lot Size
- 7,327
- Listing Area
- 626 - Glendale-Northwest
- Year Built
- 1963
Property Description
5.57% ACTUAL CAP RATE - Cash-flowing day 1 without needing to upgrade any unit! Year 2 CAP Rate is 6.35% 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
Additional Information
- Amenities
- Double Pane Windows(s)
- Cooling System
- Window / Wall Unit
- Energy Features
- Double Pane Windows
- Garage Parking
- Assigned Spaces
- Heating System
- Wall Furnace
- Laundry Facilities
- Gas Hookup, 30, Washer, Washer/Dryer - Owned, Dryer
- Lot Description
- Grade - Level
- Lot Size
- 7,327
- Neighborhood
- 626 - Glendale-Northwest
- Pool Description
- 31, None
- Roof
- Flat / Low Pitch
- Unincorporated Yn
- Yes
- View
- Hills
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