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Listed by Gilda Baez • Professional Realty Company
$2,995,000
Est. payment /mo
8,422 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Comm Ind For Sale
Listing Status Active
Purchase Type For Sale
Square Footage 8,422 sqft
Price per Sqft $355
MLS Listing ID CRBB25134474
HOA Y/N No
Year Built 1960
Lot Size 7,482 Sqft
Property Sub-Type Comm Ind For Sale
Source Datashare California Regional
Property Description
We are pleased to present 231 Justin Avenue, a nine-unit multifamily investment opportunity located in the heart of Glendale. This pride-of-ownership asset offers investors a rare opportunity to acquire a well-maintained property with significant income potential — 30% or more in rental upside achievable through a focused interior renovation program. Built in 1961, the property spans 8,422 square feet on a 7,482 square foot lot, featuring a desirable mix of three (3) one-bedroom/one-bath units and six (6) two-bedroom/one-and-a-half-bath units. Many of the units remain in original condition, presenting a clear path to increased cash flow via upgrades. The property also features tuck-under parking, on-site laundry, and is separately metered for gas and electricity, ensuring operational efficiency for future ownership. Zoned R3050, the existing unit count is considered irreplaceable under current zoning constraints, adding long-term security to the investment. The well-designed layout and generous square footage per unit provide an excellent canvas for modernization and rent repositioning. Ideally located just west of Brand Boulevard and north of San Fernando Road, 231 Justin Ave is within close proximity to major employment centers, award-winning schools, and the world-class shop
Location
State CA
County Los Angeles
Interior
Fireplace No
Building
Water Public
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