227 Justin Avenue

Glendale, CA 91201

$3,595,000
Price
14
Beds
14
Baths
8,988 Sq. Ft.
$400 / Sq. Ft.
8,988
Sq. Ft.
$400
per Sq. Ft.

Description

Built in 1957, the property consists of a great unit mix of two (2) studio, one bathroom units, ten (10) one-bedroom, one bath units, and two (2) two-bedroom, one bath units. The units are spread out over 8,988 square foot of gross leasable area. The units are separately metered for gas and electricity. Individual parking spaces are located on the ground floor along with the communal laundry room. The investment is offered at an attractive cap rate along with upside in the rents. The loss-to-lease...Built in 1957, the property consists of a great unit mix of two (2) studio, one bathroom units, ten (10) one-bedroom, one bath units, and two (2) two-bedroom, one bath units. The units are spread out over 8,988 square foot of gross leasable area. The units are separately metered for gas and electricity. Individual parking spaces are located on the ground floor along with the communal laundry room. The investment is offered at an attractive cap rate along with upside in the rents. The loss-to-lease is more easily achieved with AB1482 rent control. Delivered with 2 vacant units. Please contact listing agents for offering memorandum.
  1. Listed by William James • DRE #01734419 • Brokerage DRE #01399621 • Lyon Stahl Investment Real Estate, Inc.
  2. Listed by Peter James • DRE #01748556 • Brokerage DRE #01399621 • Lyon Stahl Investment Real Estate, Inc.

Property Details for 227 Justin Avenue

Water Front
None
Zoning
GLR4H*
Style
Mid-Century
Cross Streets
Justin Ave & Riverside Drive
Parcel Number
5626011020
Total Units
14.0
Living Area
8988
Source Living Area
Vendor Enhanced
LISTING UPDATED: 09/14/2024 12:00 AM

Property Details for 227 Justin Avenue

StatusActive
MLS #24-391817
Days on Market130
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1957
Lot Size0.17 AC / 7,403 SF
CountyLos Angeles County

Building Information for 227 Justin Avenue

Stories2Residences-Year Built1957Building Size-Lot Size0.17 AC / 7,403 SF

Property Information for 227 Justin Avenue

Community / Development
Community / Development
  • Number Of Units: 14
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 2
  • Number Of Buildings: 1
  • Type Of Units: Apt
  • View: Yes
  • View Description: Hills
  • View: Hills
  • Security Features: Exterior Security Lights, Carbon Monoxide Detector(s), Smoke Detector, Gated
  • Direction Faces: South
  • Water: Public
  • Sewer: In Street
  • Water Heaters: Yes
  • Water Heater Features: Central Water Heater
Contract Info
Contract Info
  • Probate: No
  • Financing: Cash To New Loan
  • Disclosures: None
  • Listing Type: Exclusive Right To Sell
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $283,050
  • Net Operating Income: $202,034.00
  • Gross Income: $289,404
  • Cap Rate: 5.61%
  • Gross Rent Multiplier: $12.44
  • Actual Annual Gross Rent: $289,404.00
  • Actual Gross Annual Income: $291,804
  • Financial Info as Of: 05/14/2024
  • Vacancy Allow Dollar: $8,754.00
  • Vacancy Allow Percent: 3.00%
  • Owner Pays: Water, Gardener
  • Total Annual Expense: 81015
Land / Lot Info
Land / Lot Info
  • Land Lease Type: Fee
  • Land Lease: No
  • Additional Parcel Number: No
  • Alley: No
  • Lot Acreage: 0.1699
  • Lot Size Square Feet: 7403
Parking Details
Parking Details
  • Parking Garage: Assigned, Carport
  • Total Parking: 14
  • Covered Parking: 14
  • Open Other Spaces Total: 0
  • Garage Spaces Total: 0
  • Carport Spaces Total: 14
  • Parking Features: Assigned, Carport
Interior Features
Interior Features
  • Levels: Multi/Split
  • Fireplace Features: None
  • Fireplace Rooms: None
  • Cooling: Wall/Window Unit(s)
  • Cooling Type: Wall/Window
  • Heating: Wall Furnace
  • Heating Type: Wall
  • Equipment: Range/Oven, Refrigerator
  • Common Walls: Attached
  • Cooking Appliances: Range
  • Laundry: Community, In Carport
  • Laundry Equipment: Lease
Exterior Features
Exterior Features
  • Pool: No
  • Private Pool: No
  • Pool Description: None
  • Pool Features: None
  • Spa: No
  • Spa: None
  • Tennis: No
  • Tennis Court: None
  • Sprinklers: None
  • New Construction: No
  • Construction Materials: Stucco
  • Exterior Construction: Stucco
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 05-15-2024
  • Tenant Pays: Electricity, Gas
Unit Details
Unit 1 Information
  • Unit Beds: 0
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,178.00
  • Unit Actual Rent: $2,356.00
  • Unit Projected Rent: $3,300.00
  • Like Units: 2
Unit 2 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,732.00
  • Unit Actual Rent: $17,317.00
  • Unit Projected Rent: $20,000.00
  • Like Units: 10
Unit 3 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,852.00
  • Unit Actual Rent: $3,704.00
  • Unit Projected Rent: $4,800.00
  • Like Units: 2
Unit Details
  • Unit Type Type: 2106, 2107, 2108
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $2,002,578.00
  • Assessed Improvement Percent: 59.86
  • Assessed Land Value: $1,342,637.00
  • Assessed Land Percent: 40.14
  • Assessed Total Value: $3,345,215.00

Property History for 227 Justin Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 227 Justin Avenue

Taxable ValueLand$1,369,489Additions$2,046,379Total$3,415,868
Tax Record2024$38,294 ($3,191 / month)
Home Facts
Total Finished SqFt8,988 SqFtAbove Grade Finished SqFt8,988 SqFtLot Size7,408 SqFtStyleMulti-Family Res (5+ Units)Year Built1957ZoningGLR4H*CountyLOS ANGELESAPN5626-011-020

Schools near 227 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
Balboa 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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227 Justin Avenue is a multi-family home for sale in Glendale, CA 91201. This property was listed for sale on May 14, 2024 by Lyon Stahl Investment Real Estate, Inc., it's currently listed at $3,595,000. It has been on the market for a total of 130 days and was last sold on February 6, 2014. This listing's school district is Glendale Unified School District. Nearby schools include Balboa Elementary School, Eleanor J. Toll Middle School and Herbert Hoover High School. 227 Justin Avenue is a 14-bed, 14-bath, 8,988 sqft multi-family home built in 1957.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Lyon Stahl Investment Real Estate, Inc., William James, DRE #01734419; Lyon Stahl Investment Real Estate, Inc., Peter James, DRE #01748556

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.