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1157 Justin Avenue
Glendale, CA 91201
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.
PROPERTY INFORMATION
| MLS # | 24460071 | Lot Size | 7,980 Sq. Ft. |
| HOA Fees | $0/Monthly | Property Type | N/A |
| Price | $ 3,400,000
Price Per SqFt: $ 480 |
DOM | 207 Days |
| Address | 1157 Justin Avenue | Type | Residential Income |
| City | Glendale | Sq.Ft. | 7,089 Sq. Ft. |
| Postal Code | 91201 | Garage | N/A |
| County | Los Angeles | Year Built | 1963 |
| Bed / Bath | 14 / 0 | Parking | N/A |
| Built In | 1963 | Status | Active |
INTERIOR FEATURES
| Has Appliances | Yes |
EXTERIOR FEATURES
WALKSCORE
MAP
MORTGAGE CALCULATOR
- Principal & Interest:
- Property Tax: $3,627
- Home Insurance:$119
- HOA Fees:$0
- Mortgage Insurance:
PRICE HISTORY
| Date | Event | Price |
| 11/04/2024 | Listed | $3,400,000 |
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Listing provided courtesy of Roderick 'Rick' Raymundo, Marcus & Millichap. Based on information from California Regional Multiple Listing Service, Inc. as of #Date#. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
