$5,720,000 Price Analysis   ♡   Glendale, CA 91201 14 bed 12 bath unknown SqFt ($0/SqFt) 7,327SqFt lot. Built 1963 Listed 2024-04-19, Taxes $37,336 | Ⓧ USDA Ineligible due to price & location near Glendale |
5.10% CAP Rate without doing any renovation!
The 1063, a HIGH CAP Rate turnkey luxury 12-unit apartment community located in the highly desirable city of Glendale, bordered by the City of Burbank. The property offers superb location (Walk score 86) with access to many amenities, within walking distance to IKEA Burbank, Burbank Downtown, many shopping centers, close to schools, parks, local and national retailers, dining and upscale shopping, entertainmnt and easy access to freeways (5 FWY and 134 FWY). The offering is unique due to its prime location, High CAP Rate and turnkey conditions. Pristine owner can enjoy high quality locat ion, asset and good cash flow immediately without the hardships of relocating tenants and managing construction crews. 1063 Justin is a beautifully upgraded and maintained garden style apartment community built in 1963. It is a two-story walkup apartment consisting of 12 units.
It offers a beautifully landscaped (drought tolerant) center courtyard common area. It offers a superb unit mix of four (4) LARGE 2 bed + 1 bath units, six (6) roomy 1 bed + 1 bath units and two (2) Studio units. Each unit one has been fully upgraded with full electrical and plumbing upgrades (plumbing upgrade in unit), new high durability wood vinyl and tile flooring in bathroom, new windows throughout, in-unit combo washer/dryer, state of the art mini-split HVAC systems, new kitchen with quartz kitchen countertop and new kitchen cabinets and stainless-steel kitchen appliances (gas range, dishwasher and refrigerator) and new bathrooms with new vanities, toilets, bathtubs and name brand fixtures. The exterior upgrades include a new faade, new exterior paint and signage, new entry gate, completely redone landscaping, updated electrical and much more. Each unit is large with an excellent layout. One of the 2bedroom unit has a private balcony. The property is separately metered for electricity and gas. The property offers a single level gated parking area with 11 parking spaces. It is serviced by a master water heater and has additional shared laundry room.
Presented by Han Chen at
Growth Investment Group Pasade.
Property MLS #AR24078643 from CRMLS
Appliances YN: Yes
Laundry Features: Dryer Included, Gas Dryer Hookup, Washer Hookup, Washer Included
Heating Features: Wall Furnace
Heating: Yes
Window Features: Double Pane Windows
Road Surface Type: Paved
Lot Size Acres: 0.1682048
Lot Size Source: Assessor
Lot Size Square Feet: 7327
Parking Features: Parking YN: Yes, Parking Features: Assigned
Parking Total: 11
Bedrooms in Unit-1: 2
Bedrooms in Unit-2: 1
Total Bathrooms in Unit-1: 1
Total Bathrooms in Unit-2: 1
Total Bathrooms in Unit-3: 1
Unit-1 Garage Spaces: 4
Unit-2 Garage Spaces: 6
Unit-3 Garage Spaces: 1
Gardener Expense: 1800.00
Maintenance Expense: 5660.00
Tenant Pays: Electricity, Gas
Vacancy Allowance: 5799
Rent Control: Yes
County: Los Angeles
Cap Rate: 5.10
Source Property Type: Residential Income
Insurance Expense: 5518.00
Area: 626 - Glendale-Northwest
Source Neighborhood: 626 - Glendale-Northwest
New Taxes Expense: 61980.00
Number of Separate Electric Meters: 13
Number of Separate Gas Meters: 13
Number of Separate Water Meters: 1
Parcel Number: 5623026040
Pest Control Expense: 1860.00
Trash Expense: 4944.00
Zoning: GLC3
Source System Name: C2C
| Year | Assessments Building + Land Total | Tax |
|---|---|---|
| 2022 | $1,999,200 + $1,331,100 $3,330,300 | $37,336 |
| 2021 | $211,981 + $66,334 $278,315 | $4,186 |
| 2020 | $209,808 + $65,654 $275,462 | $17,537 |
| 2019 | $205,695 + $64,367 $270,062 | $17,463 |
| 2018 | $201,662 + $63,105 $264,767 | $17,327 |
| 2017 | $197,708 + $61,868 $259,576 | $3,828 |
| 2016 | $193,832 + $60,655 $254,487 | $3,609 |
| 2015 | $190,921 + $59,744 $250,665 | $3,552 |
| 2014 | $187,182 + $58,574 $245,756 | $3,611 |
| 2013 | $186,337 + $58,310 $244,647 | $3,551 |
| 2012 | $182,684 + $57,167 $239,851 | $3,514 |
| 2010 | $179,102 + $56,047 $235,149 | $3,393 |
| 2009 | $178,187 + $55,762 $233,949 | $3,401 |
| 2009 | $177,764 + $55,629 $233,393 | $3,401 |
| 2008 | $174,694 + $54,669 $229,363 | $3,345 |
| 2007 | $171,269 + $53,598 $224,867 | $3,210 |
$5,720,000
CRMLS
Listing removed 2024-03-07
$0
CRMLS
Listed 2023-10-06
$5,600,000
CRMLS
Listing removed 2023-09-27
$0
CRMLS
Price Changed 2023-08-31
$5,600,000
CRMLS
Listed 2023-03-02
$5,950,000
CRMLS
Sold 2021-06-30
$3,265,000
CRMLS
Listing removed 2021-03-12
$0
TheMLSCLAW
Listed 2021-03-03
$3,695,000
TheMLSCLAW
Sold 1967-10-13
$63,500
Public Record
Sewer: Sewer: Public Sewer, Water Sewer Expense: 4616.00
Cable Connected
Electricity Connected
Natural Gas Connected
Phone Available
Sewer Connected
Water Connected
Water Source: Public
Building Features: 1
Common Walls: 2+ Common Walls
Direction Faces: East
Entry Level: 1
Entry Location: 1
Property Age: 61
Property Attached: Yes
Property Condition: Turnkey
Roof: Flat
Levels or Stories: Two
Building Total Stories: 2
Structure Type: Apartment
Year Built Source: Assessor
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The property loan eligibility may be subject to additional requirements beyond geographical location including but not limited to the condition of the property. Speak with a real estate professional to find out more about the eligibility of a specific property.