227 Justin Ave | Glendale, CA 91201
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- LoopNet Team
227 Justin Ave
Glendale, CA 91201
Multifamily Property For Sale
·
14 Units
Investment Highlights
- Located in Glendale, west of the 5 fwy and just north of Griffith Park, which inclues golf courses, the LA Zoo, hiking and other activities
- Approximately 22% upside in current rents. The property is subject to AB1482 allowing an owner to quickly recapture the loss-to-lease
- Central to major business hubs as it sits just east of Downtown Burbank, west of Downtown Glendale and in close proximity to Pasadena
- The property consists of a great unit mix consisting of (2) Studio / 1 Bath, (10) 1 Bed / 1 Bath, and (2) 2 Bed / 1 Bath units.
- Ample parking allowing for each unit to have an individual parking space
- Delivered with 2 vacant units for immediate access to upside potential
Property Facts
| No. Units | 14 | Building Size | 8,988 SF |
| Property Type | Multifamily | Average Occupancy | 86% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Low-Rise | Year Built | 1957 |
| Building Class | C | Parking Ratio | 1.14/1,000 SF |
| Lot Size | 0.17 AC | ||
| Zoning | R4 | ||
| No. Units | 14 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 8,988 SF |
| Average Occupancy | 86% |
| No. Stories | 2 |
| Year Built | 1957 |
| Parking Ratio | 1.14/1,000 SF |
| Zoning | R4 |
Amenities
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 2 | - | 420 |
| 1+1 | 10 | - | 640 |
| 2+1 | 2 | - | 850 |
Property Taxes
| Parcel Number | 5626-011-020 | Improvements Assessment | $2,083,481 |
| Land Assessment | $1,396,878 | Total Assessment | $3,480,359 |
Property Taxes
Parcel Number
5626-011-020
Land Assessment
$1,396,878
Improvements Assessment
$2,083,481
Total Assessment
$3,480,359
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