The James Group is pleased to present 227 Justin Ave, a 14 unit apartment building located in Glendale, CA just north of Griffith Park and adjacent to Burbank.
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.
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