Active

1157 Justin Ave

Glendale CA, 91201

$3,400,000


$479.62 per sqft

Active

14 Beds

11 Baths

7,089 sqft

Multi-family

Built in 1963

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.

24-460071

MLS ID

November 4, 2024

Listed

November 22, 2024

Updated

Map

1157 Justin Ave
Glendale CA, 91201

Interior Features

Total Stories

2


Bedrooms

14


Total Bathrooms

11


Appliances

None


Fireplace

No


Cooling

Yes


Cooling Description

Other


Heating

Yes


Heating Description

Other

Exterior/Building Features

Lot Size

0.18 Acres

Other Property Details

Area Name

Glendale-Northwest


Days on Market

8


Garage

No


Parking

Assigned, Carport


Parking Total

0


View

No


County

Los Angeles


Pool

No


Zoning

GLR4YY

Listed by Roderick 'Rick' Raymundo with Marcus & Millichap
Listing Contact: 818-219-6146 

Based on information from The MLSTM / Combined LA/Westside Multiple Listing Service, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use, it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information is deemed reliable but not guaranteed and should be independently reviewed and verified. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. All properties are subject to prior sale, change or withdrawal, and may or may not be listed by the office/agent presenting the information. Neither listing broker(s) nor Beachrock Group shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. 

©2024 Combined L.A./Westside MLS. All rights reserved.

Data last updated 11/22/2024

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