1157 Justin Avenue
$3,400,000
14
11
7,089
7,089
$480
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...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.
- Listed by Roderick 'Rick' Raymundo • DRE #01357019 • Brokerage DRE #01238010 • Marcus & Millichap
Property Details for 1157 Justin Avenue
Zoning
GLR4YY
Parcel Number5623012005
Total Units8.0
Living Area7089
Source Living AreaVendor Enhanced
AreaGlendale-Northwest (626)
Vacancy Rate0
Lot Size Area7980
LISTING UPDATED: 11/12/2024 12:01 AM
Property Details for 1157 Justin Avenue
Status | Active |
---|---|
MLS # | 24-460071 |
Days on Market | 13 |
Taxes | - |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family |
MLS Type | Residential Income |
Year Built | 1963 |
Lot Size | 0.18 AC / 7,980 SF |
County | Los Angeles County |
Building Information for 1157 Justin Avenue
Stories2Residences-Year Built1963Building Size-Lot Size0.18 AC / 7,980 SF
Property Information for 1157 Justin Avenue
Property History for 1157 Justin Avenue
Date | Event & Source | Price | Appreciation |
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Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 1157 Justin Avenue
Taxable ValueLand$1,160,137Additions$1,744,207Total$2,904,344
Tax Record2024$32,636 ($2,720 / month)
Home Facts
Total Finished SqFt7,089 SqFtAbove Grade Finished SqFt7,089 SqFtLot Size7,981 SqFtStyleMulti-Family Res (5+ Units)Year Built1963ZoningGLR4YYCountyLOS ANGELESAPN5623-012-005
Schools near 1157 Justin Avenue
This home is within Glendale Unified School District.
Rating | School | Type | Grades | Distance |
---|---|---|---|---|
Public - | K to 6 | |||
Public - | 6 to 8 | |||
Public - | 9 to 12 | |||
Public - | K to 6 |
Rating | School | Distance |
---|---|---|
Thomas Jefferson Elementary School PublicK to 6 | ||
Eleanor J. Toll Middle School Public6 to 8 | ||
Herbert Hoover High School Public9 to 12 | ||
Benjamin Franklin Elementary School PublicK to 6 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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