1063 Justin Avenue
Glendale, CA 91201
- – beds
- – baths
- – sqft
- 7,327 sqft lot
- 1963 build
- – on site
±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 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.
Last checked:
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Last updated Feb 5, 2025
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MLS# AR25026754 —
The Building
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Year Built:1963
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Year Built Source:Assessor
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New Construction:No
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Building Area Units:Square Feet
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Total Number Of Units:12
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# of Buildings:1
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Architectural Style:Mid Century Modern
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Roof:Flat
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Stories Total:2
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Entry Level:1
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Accessibility Features:None
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Common Walls:2+ Common Walls
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Faces:East
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# of Separate Gas Meters:12
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# of Separate Water Meters:1
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# of Separate Electric Meters:12
Interior
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Levels:Two
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Entry Location:1
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Window Features:Double Pane Windows
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Flooring:Vinyl, Wood
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Number Wall AC:12
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Fireplace:No
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Fireplace:None
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Laundry:Dryer Included, Gas Dryer Hookup, Washer Hookup, Washer Included
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Laundry:1
Location
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Directions:From Brand Blvd go west on Glenoaks Blvd and make left on Justin Ave
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Latitude:34.16949200
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Longitude:-118.28832100
The Property
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Property Type:Residential Income
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Subtype:Apartment
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Property Condition:Turnkey, Updated/Remodeled
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Zoning:GLC3*
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Lot Features:Level with Street, Lot 6500-9999, Rectangular Lot, Level, Near Public Transit
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Lot Size Area:7327.0000
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Lot Size Acres:0.1682
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Lot Size SqFt:7327.00
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Lot Size Source:Assessor
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View:1
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View:Mountain(s)
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Fencing:Wrought Iron
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Fence:Yes
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Road Surface Type:Paved
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Property Attached:1
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Additional Parcels:No
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Land Lease:No
Listing Agent
- Contact info:
- No listing contact info available
Taxes
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Tax Census Tract:3016.01
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Tax Tract:3196
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Tax Lot:69
The Listing
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Special Listing Conditions:Standard
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Parcel Number:5623026040
Heating & Cooling
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Heating:1
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Heating:Wall Furnace
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Cooling:Yes
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Cooling:Wall/Window Unit(s)
Utilities
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Utilities:Cable Connected, Electricity Connected, Natural Gas Connected, Phone Available, Sewer Connected, Water Connected
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Sewer:Public Sewer
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Electric:Standard
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Water Source:Public
Appliances
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Appliances:Dishwasher, Disposal, Gas Range, Microwave, Range Hood, Refrigerator
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Included:Yes
The Community
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Neighborhood:north Glendale
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Features:Suburban
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Association:No
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Pool:None
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Senior Community:No
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Private Pool:No
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Spa Features:None
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Assessments:Yes
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Assessments:Buyer to Verify
Parking
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Parking:Yes
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Parking:Assigned
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Parking Spaces:11.00
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Garage Spaces:11.00
Extra Units
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Number With Disposal:12
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Number With Dishwasher:12
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Number With Refrigerator:12
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Transit Score®
Provided by WalkScore® Inc.
Transit Score measures a location's access to public transit. It is based on nearby transit routes frequency, type of route (bus, rail, etc.), and distance to the nearest stop on the route. Transit Scores range from 0 (Minimal Transit) to 100 (Rider’s Paradise).
Soundscore™
Provided by HowLoud
Soundscore is an overall score that accounts for traffic, airport activity, and local sources. A Soundscore rating is a number between 50 (very loud) and 100 (very quiet).
Sale history
| Date | Event | Source | Price | % Change |
|---|---|---|---|---|
|
2/5/25
Feb 5, 2025
|
Listed / Active | CRMLS_CA | $5,600,000 | 71.5% (19.8% / YR) |
|
4/19/24
Apr 19, 2024
|
Listed / Active | CRMLS_CA | ||
|
10/6/23
Oct 6, 2023
|
Listed / Active | CRMLS_CA |
