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Travis Breton

travisbreton@gmail.com +1(760) 470-2752

Listed by Handoko Chen, DRE #01749321 • Growth Investment Group Pasade

$ 5,400,000

Est. payment | -/mo

7,327 Sqft Lot

Save

$ 5,400,000

Est. payment | -/mo

Save

7,327 Sqft Lot

Key Details

Property Type Commercial

Listing Status Active

Purchase Type For Sale

MLS Listing ID CRAR26165942

Year Built 1963

Lot Size 7,327 Sqft

Source California Regional MLS

Property Description

5.57% ACTUAL CAP RATE - Cash-flowing day 1 without needing to upgrade any unit! Year 2 CAP Rate is 6.35% 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

Location

State CA

County Los Angeles

Area 626 - Glendale-Northwest

Rooms

Kitchen Dishwasher, Garbage Disposal, Hood Over Range, Microwave, Oven Range - Gas, Refrigerator

Interior

Heating Wall Furnace

Cooling Window / Wall Unit

Laundry Gas Hookup, 30, Washer, Washer/Dryer - Owned, Dryer

Exterior

Parking Features Assigned Spaces

Garage Spaces 11.0

Pool 31, None

View Hills

Roof Type Flat / Low Pitch

Building

Lot Description Grade - Level

Water District - Public

Others

Tax ID 5623026040

Special Listing Condition Not Applicable

Nearby Locations

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(760) 470-2752

travisbreton@gmail.com

1902 Wright Place #200, Carlsbad, CA 92008, USA

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1063 Justin AVE Glendale, CA 91201