Property Details
About this Property
±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 plumbin
MLS Listing Information
MLS #
CRAR25026754
MLS Source
California Regional MLS
Days on Site
96
Interior Features
Appliances
Dishwasher, Garbage Disposal, Hood Over Range, Microwave, Oven Range - Gas, Dryer, Washer
Cooling
Window/Wall Unit
Heating
Wall Furnace
Exterior Features
Roof
Flat
Parking, School, and Other Information
Garage/Parking
Assigned Spaces, Garage: 11 Car(s)
HOA Fee
$0
Unit Information
| # Buildings | # Leased Units | # Total Units |
|---|---|---|
| 1 | 12 | – |
Neighborhood: Around This Home
Neighborhood: Local Demographics
Nearby Homes for Sale
1063 Justin Ave is a Residential Income in Glendale, CA 91201. This – square foot property sits on a 7,327 Sq Ft Lot and features – bedrooms & – full bathrooms. It is currently priced at $5,400,000 and was built in 1963. This address can also be written as 1063 Justin Ave, Glendale, CA 91201.
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This listing information is up-to-date as of April 28, 2025. For the most current information, please contact Han Chen, (626) 594-4900
