CA > Glendale
Glendale, CA 91201,1157 Justin Ave
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Glendale, CA 91201,1157 Justin Ave
Glendale, CA 91201,1157 Justin Ave
Glendale, CA 91201,1157 Justin Ave
Glendale, CA 91201,1157 Justin Ave
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Cheri' Benjamin

Cheri' Benjamin

+1(404) 965-4080
$ 3,400,000
Est. payment /mo
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Active

1157 Justin Ave Glendale, CA 91201

14 Beds

11 Baths

7,089 SqFt

UPDATED:

11/12/2024 07:01 AM

Key Details

Property Type Multi-Family

Sub Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 7,089 sqft

Price per Sqft $479

MLS Listing ID 24-460071

Bedrooms 14

Year Built 1963

Lot Size 7,980 Sqft

Acres 0.1833

Property 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 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.

Location

State CA

County Los Angeles

Area Glendale-Northwest

Zoning GLR4YY

Rooms

Other Rooms Other

Interior

Heating Other

Cooling Other

Equipment None

Exterior

Garage Assigned, Carport

Building

Story 2

Level or Stories Two

Others

Special Listing Condition Standard

TheMLS (CLAW)
The multiple listings information is provided by The MLSTM/CLAW from a copyrighted compilation of listings. The compilation of listings and each individual listing are ©2024 The MLSTM/CLAW. All Rights Reserved.

The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified.

Listed by Marcus & Millichap

Cheri' Benjamin

+1(404) 965-4080

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1157 Justin Ave