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Multifamily

Fuller & Poinsettia Portfolio

1636 N Fuller Ave, Los Angeles, CA 90046

Listing Price: $18,500,000

Cap Rate
3.94%
Number of Units
51
Price/Unit
$362,745
Price/Gross SF
$460.93
Gross SF
40,136

Investment Overview

Marcus & Millichap is pleased to present the Fuller & Poinsettia Portfolio, a 51-unit value add investment opportunity in a sought-after Hollywood Hills location near Runyon Canyon. Comprised of three (3) properties on contiguous parcels, the portfolio features an excellent unit mix consisting of (15) studios, (24) 1 bed/1 bath, (2) 1 bed/1.5 bath, (8) 2 bed/1 bath and (2) 2 bed/2 bath units. The properties were constructed in 1956, 1962 and 1963, respectively, with a collective building square footage 40,136 sf. The buildings sit on a combined 0.66 acres of land, and each parcel is LAR3 zoned. This unique investment opportunity features significant rental upside and an opportunity to follow an established renovation plan as 20 of the 51 units and the common areas have been renovated. In addition, soft story retrofit work has been completed. There is also an opportunity to reconfigure some units to add an additional bedroom (see rent roll for details). The Fuller & Poinsettia Portfolio is located in one of the most desirable neighborhoods in Southern California and features excellent walkability (94 walkscore). Located on the border of Hollywood and West Hollywood, the property is in close proximity to trendy retail, restaurants, cafes and entertainment options along both Hollywood Boulevard and the Sunset Strip. The property is also located just a few blocks from LA’s most popular hiking trail in the 160-acre Runyon Canyon Park. The central location offers its residents easy local access to nearby job centers of Hollywood, West Hollywood, Beverly Hills, Century City and Culver City. It is also conveniently located near 101 freeway and 0.7 miles from Hollywood/Highland Metro station for easy commutes to Downtown LA and beyond to the east and Universal City/North Hollywood and the entire San Fernando Valley to the north. Hollywood has quickly become a multi-generational hub with roughly 37% of GenX Adults (Ages 30-49) mixed with 25% of Adult Boomers (Ages 50-68) and the remaining 37% as the GenY Adults (Ages 18-29). The diverse mix of students, entrepreneurs, residents, and tourists living the Hollywood experience make this a unique opportunity.

Investment Highlights

  • Prime Hollywood Hills, 51-unit value add multifamily portfolio consisting of three properties on adjoining lots
  • Excellent unit mix: (15) studio/1 bath, (24) 1 bed/1bath, (2) 1 bed/1.5 bath (8) 2 bed/1 bath and (2) 2 bed/2 bath units
  • Opportunity to follow established renovation plan as 20 of 51 units and common areas have been renovated
  • Soft-story retrofit completed
  • Walk Score 94: close proximity to trendy retail, restaurants, cafes and entertainment options along Hollywood Boulevard and Sunset Strip and just a few blocks from LA's most popular hiking trail in the 160-acre Runyon Canyon Park
  • Central location offering its residents easy local access to nearby job centers of Hollywood, West Hollywood, Beverly Hills, Century City and Culver City
  • Conveniently located near 101 freeway and 0.7 miles from Hollywood/Highland Metro station for easy commutes to Downtown LA and beyond to the east and Universal City/North Hollywood and the entire San Fernando Valley to the north

Exclusively Listed By

Financing By

Multifamily

Fuller & Poinsettia Portfolio

Listing Price: $18,500,000

Cap Rate
3.94%
Number of Units
51
Price/Unit
$362,745
Price/Gross SF
$460.93
Gross SF
40,136

Investment Highlights

  • Prime Hollywood Hills, 51-unit value add multifamily portfolio consisting of three properties on adjoining lots
  • Excellent unit mix: (15) studio/1 bath, (24) 1 bed/1bath, (2) 1 bed/1.5 bath (8) 2 bed/1 bath and (2) 2 bed/2 bath units
  • Opportunity to follow established renovation plan as 20 of 51 units and common areas have been renovated
  • Soft-story retrofit completed
  • Walk Score 94: close proximity to trendy retail, restaurants, cafes and entertainment options along Hollywood Boulevard and Sunset Strip and just a few blocks from LA's most popular hiking trail in the 160-acre Runyon Canyon Park
  • Central location offering its residents easy local access to nearby job centers of Hollywood, West Hollywood, Beverly Hills, Century City and Culver City
  • Conveniently located near 101 freeway and 0.7 miles from Hollywood/Highland Metro station for easy commutes to Downtown LA and beyond to the east and Universal City/North Hollywood and the entire San Fernando Valley to the north

Investment Overview

Marcus & Millichap is pleased to present the Fuller & Poinsettia Portfolio, a 51-unit value add investment opportunity in a sought-after Hollywood Hills location near Runyon Canyon. Comprised of three (3) properties on contiguous parcels, the portfolio features an excellent unit mix consisting of (15) studios, (24) 1 bed/1 bath, (2) 1 bed/1.5 bath, (8) 2 bed/1 bath and (2) 2 bed/2 bath units. The properties were constructed in 1956, 1962 and 1963, respectively, with a collective building square footage 40,136 sf. The buildings sit on a combined 0.66 acres of land, and each parcel is LAR3 zoned. This unique investment opportunity features significant rental upside and an opportunity to follow an established renovation plan as 20 of the 51 units and the common areas have been renovated. In addition, soft story retrofit work has been completed. There is also an opportunity to reconfigure some units to add an additional bedroom (see rent roll for details). The Fuller & Poinsettia Portfolio is located in one of the most desirable neighborhoods in Southern California and features excellent walkability (94 walkscore). Located on the border of Hollywood and West Hollywood, the property is in close proximity to trendy retail, restaurants, cafes and entertainment options along both Hollywood Boulevard and the Sunset Strip. The property is also located just a few blocks from LA’s most popular hiking trail in the 160-acre Runyon Canyon Park. The central location offers its residents easy local access to nearby job centers of Hollywood, West Hollywood, Beverly Hills, Century City and Culver City. It is also conveniently located near 101 freeway and 0.7 miles from Hollywood/Highland Metro station for easy commutes to Downtown LA and beyond to the east and Universal City/North Hollywood and the entire San Fernando Valley to the north. Hollywood has quickly become a multi-generational hub with roughly 37% of GenX Adults (Ages 30-49) mixed with 25% of Adult Boomers (Ages 50-68) and the remaining 37% as the GenY Adults (Ages 18-29). The diverse mix of students, entrepreneurs, residents, and tourists living the Hollywood experience make this a unique opportunity.

Exclusively Listed By

Financing By

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