ActiveResidential · sale

1063 Justin Avenue

Glendale, CA 91201

$5,400,000

  • 0.17 acres
  • Built 1963

Listed by Growth Investment Group Pasade · MLS #AR26165942

1063 Justin Avenue, Glendale, CA 91201 — photo 1 View full photo
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A FEW THINGS TO NOTICE

What stands out.

Year built

Built in 1963.

Garage parking

11 garage spaces listed.

Property size

0.17 acres listed.

Highlights from the listing description and property details. Confirm features with the listing agent.

THE PROPERTY

Get to know the property.

557 ACTUAL CAP RATE Cashflowing day 1 without needing to upgrade any unit Year 2 CAP Rate is 635 with an annual rent increase The 1063 a HIGH CAP Rate turnkey luxury 12unit 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 twostory 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 inunit combo washerdryer state of the art minisplit HVAC systems new kitchen with quartz kitchen countertop and new kitchen cabinets and stainlesssteel 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 faade 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
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THE NEIGHBORHOOD

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1063 Justin Avenue, Glendale, CA 91201

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THE DETAILS

The details, all in one place.

Property type
ResidentialIncome
Category
Residential
Year built
1963
Garage spaces
11
Cooling
WallWindowUnits
Heating
WallFurnace
Appliances
Dishwasher,Disposal,GasRange,Microwave,Refrigerator,RangeHood,Dryer,Washer
Flooring
Vinyl,Wood
Utilities
CableConnected,ElectricityConnected,NaturalGasConnected,PhoneAvailable,SewerConnected,WaterConnected
Fencing
WroughtIron
Accessibility
None
Pool
No
Pool features
None
Spa
No
Zoning
GLC3*
Parcel
5623026040
HOA fee
$0.00

Features and school information are supplied by the listing source. Confirm measurements, school assignments, HOA terms and rental restrictions before making a decision.

OWNERSHIP, WITH A PLAN

Investor outlook.

Explore this property’s rental potential with an all-cash purchase. Monthly rent starts at 5% of the purchase price per year, divided by 12. Adjust it and the other assumptions to explore your scenario.

These are planning assumptions, not a rental appraisal or a loan quote. The starting rent is a price-based estimate; a local leasing professional can help confirm market rent.

Investor outlook assumes an all-cash purchase. No mortgage payment is deducted.

Estimated monthly cash flow · cash purchase—
Estimated monthly rent$22,500.00
Cap rate—

Annual operating income: —

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Purchase price
Rental income & operating costs

Purchase price × 5% ÷ 12. Updates with purchase price until you enter a custom rent.

Annual insurance starts at purchase price × 0.25%, rounded to the nearest available amount. Updates with purchase price until you choose another amount.A planning estimate, not an insurance quote. Adjust it for your property and coverage.

Percentages are editable examples, not ERA fee quotes. Management is applied to rent after vacancy; maintenance and capital reserves use scheduled rent. Add owner-paid utilities, mortgage insurance and other recurring expenses under other costs.

How this scenario is calculated

Annual operating income is rent after vacancy, management, maintenance, taxes, insurance, HOA and other operating costs, before financing and capital reserves. Cap rate divides annual operating income by purchase price. Estimated monthly cash flow assumes an all-cash purchase: rent after vacancy, management, maintenance, taxes, insurance, HOA, other operating costs and capital reserves. No mortgage payment is deducted. The mortgage calculator is separate; loan payments would reduce cash flow for a financed purchase. One-time acquisition costs, renovations, income taxes, depreciation and appreciation are excluded.

Mortgage payment calculator

Explore financing separately. These loan settings do not change the all-cash investor outlook.

Mortgage assumptions

20% down and 7% interest are illustrative starting values.

Estimated monthly principal & interest—Loan payment only. Excludes property taxes, homeowners/flood insurance, mortgage insurance and HOA dues.

About this payment estimate

Based on a fixed-rate, fully amortizing loan with monthly payments and the price, down payment, interest rate and term you select. The interest rate is an example, not a current rate offer or APR; APR includes certain loan costs. This is an illustration, not a Loan Estimate, approval, offer of credit or commitment to lend.

Your actual payment, rate and eligibility depend on your lender, credit, loan program and property. Closing costs, points, prepaid expenses and lender fees are not included. Taxes and insurance may change, and mortgage insurance may be required, particularly with a down payment below 20%. Ask your lender for a Loan Estimate and a complete monthly payment including applicable taxes, insurance and fees.

Dollar results are rounded to the nearest cent; calculations retain precision until display. A cash purchase has no loan payment but still has ownership costs. Understand your total home payment (CFPB).

ERA PROPERTY MANAGEMENT

See its potential.
Have a plan for what follows.

Considering this property as a rental? Start with the numbers, then talk through the day-to-day with a local management team.

  1. Understand the opportunity.

    Review rental pricing, property condition and your ownership goals with a local professional.

  2. Make a strong first impression.

    Bring together property preparation, professional marketing and applicant screening.

  3. Stay connected to your investment.

    Get support with rent collection, resident communication, maintenance coordination and owner reporting.

Get a local rental estimateTalk through your management needs
Stone-front home with a landscaped lawn and central entry
A more complete plan for your property

LOCAL PEOPLE. SHARED COMMITMENT.

A team behind your next step.

From your first question to the everyday work of ownership, a conversation with the right person makes a difference.

Meet ERA Property Management

Residential management in Utah, Nevada and Texas. Service availability and rental eligibility must be confirmed for each property. Commercial and association services are available through our management services page.

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1063 Justin Avenue, Glendale, CA 91201 · MLS #AR26165942

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Listing information

MLS #AR26165942 · California Regional MLS

Listing brokerage: Growth Investment Group Pasade
Listing agent: Handoko Chen

Listing status: Active. Record updated . Confirm current availability and price with the listing agent.

The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. "CRMLS" and is protected by all applicable Copyright © 2023 laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional. Information deemed reliable but not guaranteed. Copyright © 2023 California Regional Multiple Listing Service, Inc. All rights reserved.