With a unit mix featuring mostly large two-bedroom apartments, the property offers an investor stable cash flow with the opportunity to increase income further by capitalizing on rent upside. Because the building is not subject to Los Angeles Rent Control, a new owner can improve rental income more rapidly via AB 1482. In addition to installing brand new electric subpanels in all units, the current owner has upgraded the vast majority of units to include new granite countertops, new wood laminate flooring, new dual pane windows, and new AC units. Plumbing throughout the building is mostly copper pipes, while the building features a new water heater and new roof insulation as well. An additional income stream is generated via the on-site laundry facilities, which are owned by the landlord. This location features strong tenant demographics, with several major employers nearby in both Glendale and Burbank. Walt Disney Studios, Warner Brothers Studios, Walt Disney Imagineering, and Dreamworks Animation are all within a short distance. The Los Angeles Zoo, Griffith Park, Universal Studios, and the Los Angeles Equestrian Center are all situated near the property as well. The high-end Americana at Brand and the remodeled Glendale Galleria are both a short drive from the property, as are the Burbank Town Center and Burbank Empire Shopping Center. The largest IKEA store in North America sits within blocks of the property, as do Trader Joe's, Ralphs, CVS, The Home Depot, and Smart & Final.
Property Details
Property Features
Property Information:
Year Built: 1963
Stories: 2
Living Area: 7,089 SqFt
Listing Office:
Office Name: Marcus & Millichap
Office Phone: (818) 212-2700
Listing Agent: Roderick 'Rick' Raymundo
Interior Features
Bedroom and Bathroom Information:
Total Bedroom Count: 14
Exterior Features
Parking Information:
Parking: Assigned, Carport
Lot Features
Lot Information:
Lot Size: 0.18 Acres
Other
Directions Information:
Directions: We are pleased to announce the opportunity to purchase 1157 Justin Avenue, an eight-unit multifamily property located in the preferred "north of Glenoaks" district within the city of Glendale, CA, blocks from the Burbank border.
Price Information
Listing Price Info
Price Summary:
List Price: $3,400,000
Price Per SqFt: $480/SqFt
Tax Information:
Annual Amount: $30,817
Tax Year: 2021
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Housing Market Comparison
See how this home compares to others in Glendale, CA.
This property is $2.2M more than the Median Sold Price and $237/SqFt less than other homes in Glendale, CA.
Based on homes sold in the last 12 months
MLS Details
MLS Information:
MLS Name: CRMLS
MLS Number: #24460071
Listing Office:
Office Name: Marcus & Millichap
Office Phone: (818) 212-2700
Listing Agent: Roderick 'Rick' Raymundo
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. 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. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
The information being provided by California Regional Multiple Listing Service, Inc. (“CRMLS”) is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Any information relating to a property referenced on this web site comes from CRMLS. Properties may or may not be listed by the office/agent presenting the information. Real estate listings held by brokerage firms other than this broker are marked with the Internet Data Exchange logo and detailed information about them includes the names of the listing brokers and listing agents. MLS search engine provided by IHR Technology Services. This data is updated every 2 hours. Some properties appearing for sale on this display may subsequently have sold and may no longer be available. Data displayed may be a portion of, and not a complete set of all listings published in the MLS. Last updated on: 11/17/2024, 3:20:58 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Property Sales & Tax
Listing History
DATE
EVENT
PRICE
Jan 26, 2018
Jan 26, 2018Home Sold
$2,383,000
Tax History
YEAR
PROP. TAX
ASSESSMENT
2021
$30,817
$2,737,063
2020
$29,662
$2,705,040
2019
$27,341
$2,652,000
2018
$11,956
$2,430,660
2017
$11,956
$1,014,541
History based on county public records data.
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Schools
Schools Nearby
The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.
We're sorry, we currently don't have assigned school data for this listing.
Nearby Schools
6
/10
Thomas Jefferson Elementary School
1540 5th St
Distance between this listing and this school0.08 miles
Public District Grades PK-6
7
/10
Balboa Elementary School
1844 Bel Aire Dr
Distance between this listing and this school0.61 miles
Public District Grades KG-6
8
/10
Benjamin Franklin Elementary School
1610 Lake St
Distance between this listing and this school0.87 miles
Public District Grades KG-6
Nearby Schools
6
/10
Eleanor J. Toll Middle School
700 Glenwood Rd
Distance between this listing and this school0.99 miles
Public District Grades 6-8
5
/10
David Starr Jordan Middle School
420 S Mariposa St
Distance between this listing and this school1.80 miles
Public District Grades 6-8
7
/10
John Muir Middle School
1111 N Kenneth Rd
Distance between this listing and this school2.18 miles
Public District Grades 6-8
Nearby Schools
8
/10
Herbert Hoover High School
651 Glenwood Rd
Distance between this listing and this school1.00 miles
Public District Grades 9-12
9
/10
Burbank High School
902 N 3rd St
Distance between this listing and this school1.88 miles
Public District Grades 9-12
8
/10
John Burroughs High School
1920 W Clark Ave
Distance between this listing and this school2.36 miles
The neighbors living near this home have an average income of $43,567. The majority of Glendale, CA residents have income between $35k-100k annually. Most families are single, no kids. Typical level of education for residents in this area is high school diploma.
All data provided by Home Junction and Claritas
Frequently Asked Questions About 1157 Justin Ave
What is the listing price of this property?
The listing price of 1157 Justin Ave property is $3,400,000.
What type of property is this?
The property 1157 Justin Ave is a house located in Glendale, California, 91201.
Is this property for sale now?
Active Listing: 1157 Justin Ave is For Sale (Active/New) which means the seller is accepting offers.
What is the annual property tax for this property?
According to the records, the last property tax for 2021 is $30,817 (source: MLS/based on county public records data).
When was this property sold last time and for how much?
The last sale was on January 26, 2018 for $2,383,000. (source: MLS/tax record).
How many bedrooms and bathrooms does this property have?
The property at 1157 Justin Ave has 14 bedrooms and 11 bathrooms.
What is the square footage of this property?
The property 1157 Justin Ave is 7,089 SqFt (source: MLS/tax record).
Which year was this property built?
The year of construction for 1157 Justin Ave is 1963.
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This home is located at 1157 Justin Ave in Glendale, CA and zip code 91201 in the Grandview neighborhood. This 7,089 square foot home, which was built in 1963, sits on a 0.18 acre lot. Features: 14 bedrooms, 11 bathrooms. It has been listed on Rocket Homes since November 05, 2024 and is currently priced at $3,400,000.
Over 38 listings were sold over their listed price in October 2024 in Glendale, CA. In the same period over 24 listings were sold below the listed price and 7 listings were sold for the listed price. In October 2024 in Glendale, CA there were 4.9% more homes for sale than in September 2024. In October 2024, listings were on the market for 32 days. During the same period, the median list price in this real estate market was $1,150,000.
From Rocket Homes Real Estate and based on county public records data.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. 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. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. 
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