±5.44% ACTUAL CAP RATE - Cash-flowing day 1 without needing to upgrade any unit! Year 2 CAP Rate is 6.27% 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.
Off market
Listing Provided by:
Price Unknown
1063 Justin Ave, Glendale, CA 91201
--beds
--baths
--sqft
Multi Family
Built in 1963
-- sqft lot
$-- Zestimate®
$--/sqft
$2,776 Estimated rent
What's special
Zillow last checked: 7 hours ago
Listing updated: April 28, 2025 at 02:50pm
Source: CRMLS,MLS#: AR25026754
Originating MLS: California Regional MLS

Facts & features
Interior
Heating
- Wall Furnace
Cooling
- Wall/Window Unit(s)
Appliances
- Included: Dishwasher, Disposal, Gas Range, Microwave, Refrigerator, Range Hood, Dryer, Washer
- Laundry: Washer Hookup, Gas Dryer Hookup
Features
- Flooring: Vinyl, Wood
- Windows: Double Pane Windows
- Has fireplace: No
- Fireplace features: None
- Common walls with other units/homes: 2+ Common Walls
Interior area
- Total structure area: 0
Property
Parking
- Total spaces: 11
- Parking features: Assigned
- Garage spaces: 11
Accessibility
- Accessibility features: None
Features
- Levels: Two
- Stories: 2
- Entry location: 1
- Pool features: None
- Spa features: None
- Fencing: Wrought Iron
- Has view: Yes
- View description: Mountain(s)
Lot
- Size: 7,327 sqft
- Features: Level, Near Public Transit, Rectangular Lot, Street Level
Details
- Parcel number: 5623026040
- Zoning: GLC3*
- Special conditions: Standard
Construction
Type & style
- Home type: MultiFamily
- Architectural style: Mid-Century Modern
- Property subtype: Multi Family
- Attached to another structure: Yes
Materials
- Roof: Flat
Condition
- Updated/Remodeled,Turnkey
- New construction: No
- Year built: 1963
Utilities & green energy
- Electric: Standard
- Sewer: Public Sewer
- Water: Public
- Utilities for property: Cable Connected, Electricity Connected, Natural Gas Connected, Phone Available, Sewer Connected, Water Connected
Community & neighborhood
Community
- Community features: Suburban
Location
- Region: Glendale
HOA & financial
Other financial information
- Total actual rent: 32218
Other
Other facts
- Listing terms: Cash,Cash to New Loan
- Road surface type: Paved