#GD24186109, Vartan Markarian, Listing Office: Markarian Realty
$5,600,000 List price
1063 Justin Ave Glendale, CA 91201
0.2 acres
Condo
Property details
About 1063 Justin Ave
±5.20% ACTUAL CAP RATE - Cash-flowing day 1 without needing to upgrade any unit! Year 2 CAP Rate is 6.01% with an annual rent increase. 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 (Walkscore 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, entertainment, 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. New owner can enjoy high quality location, 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) spacious 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 façade, 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.
Highlights
Home typeCondominium
HeatingWall Furnace
StatusActive
CoolingWall/Window Unit(s)
Lot size0.1682 Acres
Year built1963
ParkingAssigned
MLS #AR25026754
Garage11 spaces
ViewMountain(s)
Summary
- MLS Number: AR25026754
- MLS Name: CRMLS
- Office Name: Growth Investment Group Pasade
- Office Email: han.chen@growthinvestmentgroup.com
- Listing Agent: Han Chen
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
The information being provided by California Regional Multiple Listing Service, Inc. (“CRMLS”) is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Any information relating to a property referenced on this web site comes from CRMLS. Properties may or may not be listed by the office/agent presenting the information. Real estate listings held by brokerage firms other than this broker are marked with the Internet Data Exchange logo and detailed information about them includes the names of the listing brokers and listing agents. MLS search engine provided by IHR Technology Services. This data is updated every 2 hours. Some properties appearing for sale on this display may subsequently have sold and may no longer be available.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 3/14/2025, 4:20:51 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
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1063 Justin Ave
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Price information
Property sales
| Date | Event | Price |
|---|---|---|
| Jun 30, 2021 | Home Sold | $3,265,000 |
Tax history
| Year | Assessment | Property Tax |
|---|---|---|
| 2024 | $3,468,203 | $38,861 |
| 2023 | $3,400,266 | $37,984 |
| 2022 | $3,333,660 | $37,336 |
| 2021 | $281,675 | $4,186 |
| 2020 | $275,462 | $17,463 |
| 2019 | $270,062 | $17,327 |
| 2018 | $264,767 | $3,828 |
| 2017 | $259,576 | $3,828 |
History based on county public records data.
Nearby schools
6
Thomas Jefferson Elementary School
Public District PK-6
0.1 mi
•1540 5th St
8
Benjamin Franklin Elementary School
Public District KG-6
0.7 mi
•1610 Lake St
7
Balboa Elementary School
Public District KG-6
0.8 mi
•1844 Bel Aire Dr
School ratings are a score out of 10, where 10 is the highest and 1 is the lowest.
Neighborhood
The neighbors living near this home have an average income of $46,050. Typical income of Glendale, CA residents is between $35k-100k annually. The majority of families are single, no kids. Typical level of education for residents in this area is high school diploma.
How much money do the neighbors make?
35%
<35k
52%
35k-100k
10%
100k-200k
3%
200k+
What level of education do the neighbors have?
High School Diploma
Post Secondary Degree
Masters Degree
What types of families live nearby?
38%
Single, No Kids
7%
Single, with Kids
32%
Married, No Kids
23%
Married, with Kids
Are the neighbors home owners or renters?
Home Owners
Renters
How old are people in this area?
10%
<11 yrs old
7%
12-17 yrs old
24%
18-34 yrs old
43%
35-64 yrs old
16%
65+ yrs old
What do the neighbors do for fun?
Pro Boxing
Major League Soccer (MLS)
Mexican League Soccer
Where do the neighbors shop?
H&M
Foot Locker
Burlington
Where do the neighbors go to eat?
Boston Market
Popeyes
Little Caesars
What do the neighbors drive?
Honda
Nissan
Dodge
What do the neighbors listen to?
Rhythmic Contemporary Hits
Urban Adult Contemporary- Alternative
All data provided by Home Junction and Claritas
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Frequently asked questions
About 1063 Justin Ave
This home is located at 1063 Justin Ave in Glendale, CA and zip code 91201 in the Grandview neighborhood. Features: 0 bathroom. It has been listed on Rocket Homes since February 5, 2025 and is currently priced at $5,600,000.
In February 2025, from all listings sold in Glendale, CA there were more than 18 sold above asking price, over 11 sold below and more than 4 were sold right at the asked price. The number of listings in Glendale, CA increased by 13.2% between January and February 2025. In February 2025, listings were on the market for 33 days. During the same period, the median list price in this real estate market was $1,152,857.
From Rocket Homes Real Estate and based on county public records data.