227 Justin Ave, Glendale, CA 91201 | For Sale

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For Sale $3,595,000 ($399.98 per Sq Ft)

$3,595,000 ($399.98 per Sq Ft)
  • (0)
  • 14 Units
  • 8,988 Sq Ft
  • 7,403 Sq Ft
  • Unknown Cap Rate

Description

Built in 1957, the property consists of a great unit mix of two (2) studio, one bathroom units, ten (10) one-bedroom, one bath units, and two (2) two-bedroom, one bath units. The units are spread out over 8,988 square foot of gross leasable area. The units are separately metered for gas and electricity. Individual parking spaces are located on the ground floor along with the communal laundry room. The investment is offered at an attractive cap rate along with upside in the rents. The loss-to-lease is more easily achieved with AB1482 rent control. Delivered with 2 vacant units. Please contact listing agents for offering memorandum.

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Amenities

Garage
Pool
Garden
Security System
Internet
Telephone
Heating
Fireplace
Balcony & Patio
TV / Cable
Laundry
Hardwood Floors
Spa
Air Conditioning
Solar Power
Floor Plan
Great Views
Natural Light
Quiet
Water View
Elevator
Guest Unit(s)
Furnished
220 Volt

Income

Rental Units


The income description goes here to explain

Expenses

Property Details

List Price $3,595,000
Property Type Multi-Family
Usable Sqft 8,988
Number of Stories 2 stories
Parking Spots 14 spots
Year Built 1957
Last Sold Unknown
Sold Price Unknown
APN # 5626011020
MLS # 24391817
Property ID 292815655
Lot Sqft 7,403
Zoning GLR4H*
Total Units 14
Days on Market 200
Original List Price $3,595,000
Date Updated September 14, 2024
Date Created May 14, 2024
Unit # Beds Baths Current Rent Proforma Rent
Unit #1 1 1.00 $1,732 $20,000
Unit #2 0 1.00 $1,178 $3,300
Unit #3 2 1.00 $1,852 $4,800
Gross Income (Yr) $ 283,050
Operating Expenses $ 81,015
Net Income (Yr) $ 202,034
Cap Rate 5.61%
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Listing Provided By

William James an agent of Lyon Stahl Investment Real Estate, Inc.. Lic #01734419


© 2024 CARETS and TheMLS. All rights reserved. Based on information from CARETS as of September 14, 2024 The information being provided by CARETS is for the visitor's personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CARETS, CLAW, CRISNet MLS, i-Tech MLS, PSRMLS and/or VCRDS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Any property information referenced on this website comes from the Internet Data Exchange (IDX) program of CRISNet MLS and/or CARETS. 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. Properties may or may not be listed by the office/agent presenting the information.



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