• 8 Units
• 7,089 Sq Ft
• 7,983 Sq Ft
• Unknown Cap Rate

Description

We are pleased to present 1157 Justin Avenue, an eight-unit multifamily investment property located on a quiet, tree-lined street in the highly desirable El Miradero neighborhood of North Glendale. This high-performing asset has demonstrated strong income stability with minimal vacancy, driven by its proximity to top-rated schools and surrounding single-family residential appeal.The property is situated one block from Thomas Jefferson Elementary School. The rear two units enjoy ground-floor private rear patios, offering tenants direct access to outdoor living. Tenants enjoy 11 on-site parking spaces, including two large, enclosed garages, which buyer may be able to convert to ADUs, potentially further increasing the income. Buyer to confirm Glendale municipal code allowing for ADU construction. All units are separately metered for gas and electricity, allowing for efficient expense control. Constructed in 1963, the property consists of an exceptional unit mix featuring 6 two-bedroom units and 2 one-bedroom units, totaling 7,089 square feet on a 7,981 square foot R2250-zoned lot. The current unit count is irreplaceable under today's zoning, providing long-term scarcity value and downside protection. Additional on-site amenities include owned laundry facilities and security cameras.The property is ideally located north of Glenoaks Boulevard and west of Grandview Avenue, just steps from Kenneth Village and surrounded by larger single-family homes. Tenants are within three miles of The Americana at Brand, less than one mile from Trader Joe's in Burbank, and two miles from Burbank Town Center. Immediate access to the CA-5 and CA-134 Freeways allows for convenient commuting throughout Burbank, Studio City, Los Feliz, Atwater Village, North Hollywood, Downtown Los Angeles, and the greater San Gabriel Valley.Located in the landlord-friendly City of Glendale, the property is subject to AB 1482 while allowing higher annual rent increases than the City of Los Angeles or unincorporated Los Angeles Countymaking 1157 Justin Avenue a compelling opportunity for both cash-flow stability and long-term appreciation.