1063 Justin AVE Active Save Request In-Person Tour Request Virtual Tour
Glendale,CA 91201
Key Details
Property Type Condo
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
MLS Listing ID AR25026754
Style Mid Century Modern
Construction Status Turnkey,Updated/Remodeled
HOA Y/N No
Year Built 1963
Lot Size 7,326 Sqft
Acres 0.1682
Property Sub-Type Apartment
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 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.
Location
State CA
County Los Angeles
Area 626 - Glendale-Northwest
Zoning GLC3*
Interior
Heating Wall Furnace
Cooling Wall/Window Unit(s)
Flooring Vinyl,Wood
Fireplaces Type None
Appliance Dishwasher,Disposal,Gas Range,Microwave,Range Hood,Refrigerator
Laundry Dryer Included,Gas Dryer Hookup,Washer Hookup,Washer Included
Exterior
Parking Features Assigned
Garage Spaces 11.0
Fence Wrought Iron
Pool None
Community Features Suburban
Utilities Available Cable Connected,Electricity Connected,Natural Gas Connected,Phone Available,Sewer Connected,Water Connected
View Y/N Yes
View Mountain(s)
Roof Type Flat
Handicap Access None
Private Pool No
Building
Lot Description Level with Street,Lot 6500-9999,Rectangular Lot,Level,Near Public Transit
Story 2
Sewer Public Sewer
Water Public
Architectural Style Mid Century Modern
Level or Stories Two
New Construction No
Construction Status Turnkey,Updated/Remodeled
Others
Senior Community No
Acceptable Financing Conventional
Listing Terms Conventional
Financing Conventional
Special Listing Condition Standard
Lease Land No
Confidential INFO
TERMS Cash,Cash To New Loan
LIST AGRMT Exclusive Right To Sell
LIST SERVICE Full Service
SHOW CONTACT TYPE None,See Remarks
SHOW INSTRUCTIONS Please go direct to walk the common area. Building is fully occupied, do not disturb tenants. Subject to inspection.