$4,300,000
$4,600,000
6.5%For more information regarding the value of a property, please contact us for a free consultation.
23 Beds
21 Baths
12,598 SqFt
SOLD DATE : 08/23/2024
Key Details
Sold Price $4,300,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 12,598 sqft
Price per Sqft $341
MLS Listing ID 23340791
Sold Date 08/23/24
Bedrooms 23
Construction Status Additions/Alterations,Updated/Remodeled
HOA Y/N No
Year Built 1964
Lot Size 0.322 Acres
Property Description
We are pleased to present 5611 Fulcher Avenue, a 21-unit multifamily investment opportunity in prime North Hollywood Arts District. This rare investment opportunity is a well-maintained high cash flow asset with strong upside potential located in one of LA's strongest rental markets. The building is comprised of 21 units with a mix of (3) Studios, (16) 1 Bed, 1 Bath, and (2) 2 Bed, 1 Bath units. Two of the studios are brand new ADUs included and leased up. Several of the units have been renovated in the past 5 years with hardwood floors, new cabinetry, updated bathrooms, stainless steel appliances. Several of the units have RUBS implemented (up to $975 billed back per month with current leases). 5611 Fulcher Avenue is ideally located in the high demand submarket of North Hollywood, which boasts a high-end young adult demographic, dense immediate population, high barriers to entry, and strong market fundamentals yielding an investor/developer landlord favored market conditions with significant growth potential. Centrally located nearby NoHo Arts District and the Metro Red Line Station, and conveniently positioned in the center of a broad range of employment and retail options, 5611 Fulcher Avenue is surrounded by affluent high-end neighborhoods, boutique bars / restaurants, and numerous high profile office towers and mixed use developments.
Location
State CA
County Los Angeles
Area Nho - North Hollywood
Zoning LAC2
Interior
Heating Wall Furnace
Cooling Wall/Window Unit(s)
Fireplace No
Appliance Gas Oven, Range, Refrigerator, Range Hood
Laundry Common Area
Exterior
Garage None
Pool None
Community Features Gated
Accessibility None
Total Parking Spaces 15
Private Pool No
Building
Story 2
Entry Level Two
Foundation Slab
Level or Stories Two
New Construction No
Construction Status Additions/Alterations,Updated/Remodeled
Others
Senior Community No
Tax ID 2337031030
Security Features Gated Community,Key Card Entry
Acceptable Financing Cash, Conventional, Fannie Mae
Listing Terms Cash, Conventional, Fannie Mae
Financing Assumed,Conventional
Special Listing Condition Standard
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Bought with Aaron Kaboud • The RFC Group
"Molly's job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "