1157 Justin Avenue, Glendale, CA 91201
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Listed Price :
$3,400,000
-
Beds :
14
-
Baths :
11
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Property Size :
7,089 sqft
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Year Built :
1963
Property Description
With a unit mix featuring mostly large two-bedroom apartments, the property offers an investor stable cash flow with the opportunity to increase income further by capitalizing on rent upside. Because the building is not subject to Los Angeles Rent Control, a new owner can improve rental income more rapidly via AB 1482. In addition to installing brand new electric subpanels in all units, the current owner has upgraded the vast majority of units to include new granite countertops, new wood laminate flooring, new dual pane windows, and new AC units. Plumbing throughout the building is mostly copper pipes, while the building features a new water heater and new roof insulation as well. An additional income stream is generated via the on-site laundry facilities, which are owned by the landlord. This location features strong tenant demographics, with several major employers nearby in both Glendale and Burbank. Walt Disney Studios, Warner Brothers Studios, Walt Disney Imagineering, and Dreamworks Animation are all within a short distance. The Los Angeles Zoo, Griffith Park, Universal Studios, and the Los Angeles Equestrian Center are all situated near the property as well. The high-end Americana at Brand and the remodeled Glendale Galleria are both a short drive from the property, as are the Burbank Town Center and Burbank Empire Shopping Center. The largest IKEA store in North America sits within blocks of the property, as do Trader Joe's, Ralphs, CVS, The Home Depot, and Smart & Final.
Interior Features
| Bedroom Information |
| Bedrooms |
14 |
| Bathroom Information |
| Bathrooms |
11 |
Listing Information
| Address |
1157 Justin Avenue |
| City |
Glendale |
| State |
CA |
| Zip |
91201 |
| County |
Los Angeles |
| Listing Agent |
Roderick 'Rick' Raymundo DRE #01357019 |
| Courtesy Of |
Marcus & Millichap |
| List Price |
$3,400,000 |
| Status |
Active |
| Type |
Residential Income |
| Structure Size |
7,089 |
| Lot Size |
7,980 |
| Year Built |
1963 |
Listing information courtesy of: Roderick 'Rick' Raymundo, Marcus & Millichap. *Based on information from the Association of REALTORS/Multiple Listing as of Nov 4th, 2024 at 11:43 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. 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.
