NOT LISTED FOR SALE
3 Beds
3 Baths
6,234 Sq Ft
7,380 Sq Ft Lot

Last Sold August 03, 2021

Last sale price $3,115,500 $500 Per Sq Ft

21 Days on Market

Highlights

  • Laundry Room
  • Central Heating and Cooling System
  • Level Lot
  • Herbert Hoover High School Rated A-

About This Home

As of August 2021

1021 Justin Avenue, an 8-unit apartment located in the highly desirable city of Glendale, above Glenoaks Boulevard, bordered by the City of Burbank. The property is situated near superb access to nearby amenities, such as schools, parks, local and national retailers, dining and upscale shopping, entertainment, and easy access to freeways (5 FWY and 134 FWY).

The property is a two-story apartment community with gated parking and secured entrance. It is situated on a residential street surrounded by other a single-family and condominium communities. Built in 1987, it offers a superb unit mix of (4) 2 bed + 2 bath units, (4) 1 bed + 1 bath units, with a total of 11 gated parking spaces on a lot size of ±7,380 SF with a total building size of ±6,234 SF. The property has been well maintained throughout current ownership with no known deferred maintenance with recently incorporated cost-efficient features such as, electricity generating solar system (zero electric bill), “electric eye”, newer polyurethane roof, dual-pane windows, new air conditioning units, on-site laundry (machines owned), central A/C, individual water heaters, and 1.5 GPF plumbing. Each unit has a spacious layout, updated appliances with stainless steel sinks, tile and laminate wood flooring, and refreshed vanities, countertops and cabinetry.

Last Agent to Sell the Property

Jeanelle Asprer

JDC Investments License #01737872 Listed on: 01/11/2021

Last Buyer's Agent

Stephen Azadian

Town & Ranch Realty License #0708348

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1987

Lot Details

  • 7,380 Sq Ft Lot
  • Two or More Common Walls
  • Level Lot
  • Value in Land

Parking

  • 6 Car Garage
  • 6 Carport Spaces
  • Parking Available
  • Assigned Parking

Home Design

  • 6,234 Sq Ft Home
  • Apartment

Bedrooms and Bathrooms

  • 3 Bedrooms
  • 3 Bathrooms

Additional Features

  • Laundry Room
  • Exterior Lighting
  • Suburban Location
  • Central Heating and Cooling System

Listing and Financial Details

  • Tax Lot 52
  • Tax Tract Number 3196
  • Assessor Parcel Number 5623026065

Community Details

Building Details

  • Rent Control
  • 9 Separate Electric Meters
  • 9 Separate Gas Meters
  • 9 Separate Water Meters
  • Operating Expense $46,115
  • Gross Income $178,980
  • Net Operating Income $127,495

Additional Features

  • 8 Units
  • Laundry Facilities

Property Details

Home Type

Multi-Family

Year Built

Built in 1987

Lot Details

0

Parking

6

Listing Details

  • CapRate: 4.08
  • Price Per Unit: 390000
  • Property Attached: Yes
  • Zoning: GLR4*
  • Property Type: Residential Income
  • Parcel Number: 5623026065
  • Year Built: 1987
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Common Walls: 2+ Common Walls
  • Price Per Square Foot: 499.76

Exterior Features

  • Pool Private: No

Garage/Parking

  • Carport Spaces: 6.00
  • Garage Spaces: 6.00
  • Parking: Yes
  • Parking Features: Assigned, Carport, Covered
  • Total Parking Spaces: 12.00

Utilities

  • Heating: Yes
  • Laundry: Yes
  • Heating Type: Central
  • Laundry Features: Common Area
  • Sewer: Public Sewer
  • Water Source: Public
  • Cooling: Central Air
  • Cooling: Yes

Condo/Co-op/Association

  • Senior Community: No
  • Common Interest: Community Apartment
  • Community Features: Sidewalks, Street Lights, Suburban

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Level, Value In Land
  • Lot Size Sq Ft: 7380.00
  • Lot Size Acres: 0.1694

Multi Family

  • Gross Income: 178980.00
  • Gross Scheduled Income: 178980.00
  • Laundry Income: 2700.00
  • Lot Size Area: 7380.0000 Square Feet
  • Net Operating Income: 127495.00
  • Number Of Separate Electric Meters: 9
  • Number Of Separate Gas Meters: 9
  • Number Of Separate Water Meters: 9
  • Number Of Units Total: 8
  • Operating Expense: 46115.00
  • Rent Control: Yes
  • Total Expenses: 46115.00

Tax Info

  • Tax Census Tract: 3016.01
  • Tax Lot: 52
  • Tax Tract Number: 3196

Range of Values:

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Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Property History

Date Event Price Change Sq Ft Price
08/03/2021 08/03/21 Sold $3,115,500 -0.1% $500 / Sq Ft
02/01/2021 02/01/21 Pending -- -- --
01/11/2021 01/11/21 For Sale $3,120,000 -- $500 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: AR21006277

California Regional Multiple Listing Service (CRMLS)