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
MLS #
CRAR24078643
MLS Source
California Regional MLS
Days on Site
17
Buyer's Brokerage Compensation*
2.00
Appliances
Dishwasher, Hood Over Range, Microwave, Oven Range - Gas, Dryer, Washer
Flooring
Laminate
Cooling
Other, Window/Wall Unit
Heating
Wall Furnace
Roof
Flat
Garage/Parking
Assigned Spaces, Garage: 11 Car(s)
HOA Fee
$0
# Buildings | # Leased Units | # Total Units |
---|---|---|
1 | 12 | – |
1063 Justin Ave is a Residential Income in Glendale, CA 91201. This – square foot property sits on a – Sq Ft Lot and features – bedrooms & – full bathrooms. It is currently priced at $5,720,000 and was built in 1963.
This address can also be written as 1063 Justin Ave, Glendale, CA 91201.©2024 California Regional MLS. All rights reserved. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Information provided is for personal, non-commercial use by the viewer and may not be redistributed without explicit authorization from California Regional MLS.
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This listing information is up-to-date as of April 20, 2024. For the most current information, please contact Han Chen