$3,400,000
1157 Justin Avenue Glendale, CA 91201
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$3,400,000
Est. payment /mo
7,089 SqFt
Active
1157 Justin Avenue Glendale, CA 91201
UPDATED:
11/12/2024 04:37 PM
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 7,089 sqft
Price per Sqft $479
MLS Listing ID CL24460071
HOA Y/N No
Year Built 1963
Lot Size 7,980 Sqft
Acres 0.18
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
Location
State CA
County Los Angeles
Area Listing
Zoning GLR4
Interior
Fireplace No
Exterior
Parking Type Assigned, Other
Building
New Construction No
Others
Tax ID 5623012005
© 2024 BEAR, CCAR, bridgeMLS. This information is deemed reliable but not verified or guaranteed. This information is being provided by the Bay East MLS or Contra Costa MLS or bridgeMLS. The listings presented here may or may not be listed by the Broker/Agent operating this website.
Listed by Roderick 'Rick' Raymundo • Marcus & Millichap
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