Multifamily
1212 N Fuller Ave
1212 N Fuller Ave, West Hollywood, CA 90046
Listing Price: $2,950,000
Investment Overview
Marcus & Millichap is pleased to present 1212 N Fuller Ave, a 10-unit value-add investment opportunity located in a prime location of West Hollywood between Fountain Ave & Santa Monica Blvd, a location that attracts high-end renters and is within walking distance to numerous restaurants and amenities. The subject property features an excellent unit mix of one bachelor, three one-bedrooms, five two-bedrooms, and one three-bedroom with gated parking and eight spaces.
The majority of the units are leased at below market rents, providing an investor the opportunity to capture 68% rental upside through interior unit renovations as units turn; the three-bedroom unit will be delivered vacant at the close of escrow, allowing an investor to renovate and achieve market rent for that unit immediately. Units are well-kept but provide an investor the opportunity for further enhancements to maximize rents such as recessed lighting, vinyl plank flooring, updated bathrooms, quartz countertops, and new windows. At the rear of the property, there is a common area outdoor space that has the potential for an investor to build an ADU (Buyer to verify). There is a common area laundry with one washer and one dryer, leased with Wash; the building is separately metered for gas and electric.
At the asking price, the property is being offered at a low $295,000 per unit and $337 PSF. Long-time ownership, this is the first time the property has come to market in over 50 years. The property is blocks from The Lot West Hollywood that is home to major employers such as Ticketmaster, HBO, and Showtime, among others.
High Walk Score of 91 with endless entertainment options within a mile radius; proximity to schools, employment, and transit options gives residents an easy commute throughout the city to prominent areas such as Beverly Hills, Hollywood, and Beverly Grove. The property is within walking distance to amenities such as Trader Joe’s, Smart & Final, Harlowe, and Blackwood Coffee Bar, among others. West Hollywood is one of the most coveted multifamily submarkets in Los Angeles and a top destination attracting those in entertainment, fashion, and entrepreneurship
1212 N Fuller Ave
Investment Highlights
- 10-unit value-add investment opportunity located in a prime location of West Hollywood between Fountain Ave & Santa Monica Blvd, a location that attracts high-end renters
- Long-time ownership, this is the first time the property has come to market in over 50 years
- The subject property features an excellent unit mix of one bachelor, three one-bedrooms, five two-bedrooms, and one three-bedroom with gated parking and eight spaces
- The majority of the units are leased at below market rents, providing an investor the opportunity to capture 68% rental upside through interior unit renovations as units turn; the three-bedroom unit will be delivered vacant at the close of escrow, allowing an investor to renovate and achieve market rent for that unit immediately
- Units are well-kept but provide an investor the opportunity for further enhancements to maximize rents such as recessed lighting, vinyl plank flooring, updated bathrooms, quartz countertops, and new windows
- At the asking price, the property is being offered at a low $295,000 per unit and $337 PSF
- There is common area laundry with one washer and one dryer, leased with Wash; the building is separately metered for gas and electric
- High Walk Score of 91 with endless entertainment options within a mile radius; proximity to schools, employment, and transit options gives residents an easy commute throughout the city to prominent areas such as Beverly Hills, Hollywood, and Beverly Grove
Exclusively Listed By
Listing Price: $2,950,000
Investment Highlights
- 10-unit value-add investment opportunity located in a prime location of West Hollywood between Fountain Ave & Santa Monica Blvd, a location that attracts high-end renters
- Long-time ownership, this is the first time the property has come to market in over 50 years
- The subject property features an excellent unit mix of one bachelor, three one-bedrooms, five two-bedrooms, and one three-bedroom with gated parking and eight spaces
- The majority of the units are leased at below market rents, providing an investor the opportunity to capture 68% rental upside through interior unit renovations as units turn; the three-bedroom unit will be delivered vacant at the close of escrow, allowing an investor to renovate and achieve market rent for that unit immediately
- Units are well-kept but provide an investor the opportunity for further enhancements to maximize rents such as recessed lighting, vinyl plank flooring, updated bathrooms, quartz countertops, and new windows
- At the asking price, the property is being offered at a low $295,000 per unit and $337 PSF
- There is common area laundry with one washer and one dryer, leased with Wash; the building is separately metered for gas and electric
- High Walk Score of 91 with endless entertainment options within a mile radius; proximity to schools, employment, and transit options gives residents an easy commute throughout the city to prominent areas such as Beverly Hills, Hollywood, and Beverly Grove
Investment Overview
Marcus & Millichap is pleased to present 1212 N Fuller Ave, a 10-unit value-add investment opportunity located in a prime location of West Hollywood between Fountain Ave & Santa Monica Blvd, a location that attracts high-end renters and is within walking distance to numerous restaurants and amenities. The subject property features an excellent unit mix of one bachelor, three one-bedrooms, five two-bedrooms, and one three-bedroom with gated parking and eight spaces. The majority of the units are leased at below market rents, providing an investor the opportunity to capture 68% rental upside through interior unit renovations as units turn; the three-bedroom unit will be delivered vacant at the close of escrow, allowing an investor to renovate and achieve market rent for that unit immediately. Units are well-kept but provide an investor the opportunity for further enhancements to maximize rents such as recessed lighting, vinyl plank flooring, updated bathrooms, quartz countertops, and new windows. At the rear of the property, there is a common area outdoor space that has the potential for an investor to build an ADU (Buyer to verify). There is a common area laundry with one washer and one dryer, leased with Wash; the building is separately metered for gas and electric. At the asking price, the property is being offered at a low $295,000 per unit and $337 PSF. Long-time ownership, this is the first time the property has come to market in over 50 years. The property is blocks from The Lot West Hollywood that is home to major employers such as Ticketmaster, HBO, and Showtime, among others. High Walk Score of 91 with endless entertainment options within a mile radius; proximity to schools, employment, and transit options gives residents an easy commute throughout the city to prominent areas such as Beverly Hills, Hollywood, and Beverly Grove. The property is within walking distance to amenities such as Trader Joe’s, Smart & Final, Harlowe, and Blackwood Coffee Bar, among others. West Hollywood is one of the most coveted multifamily submarkets in Los Angeles and a top destination attracting those in entertainment, fashion, and entrepreneurship
Exclusively Listed By
