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Multifamily

6545 Fulton Ave

6545 Fulton Ave, Los Angeles, CA 91401

Listing Price: $2,275,000

Cap Rate
4.22%
Number of Units
7
Price/Unit
$325,000
Price/Gross SF
$380.63
Gross SF
5,977

Investment Overview

Marcus & Millichap is pleased to present 6545 Fulton Ave, in Van Nuys, CA. Built in 2001, this unique property made up of seven units just west of the 170 FWY. This is an ideal investment opportunity located in a proven submarket of Los Angeles with steady in-place cashflow on current income at 4.22%. The building is fully occupied and modestly renovated, allowing an investor to capture an additional 24% in rental upside when units turn through further interior renovations. The building features a unit mix made up of two-bedrooms and three-bedrooms, each with spacious layouts (approximately 900-1,100 sq ft.). The property has ample parking with a total of 14 parking spaces (one tandem space per unit) with no soft story retrofit work required. The building is low maintenance for an investor: water, gas & electric are all separately metered and units have separate individual water heaters. The laundry machines are owned and can be conveyed. The subject property has a gated front and parking entrance for added security. 6545 Fulton Ave located in the Valley Glen neighborhood of Van Nuys, close to many shopping, dining, and entertaining options. A quick drive down Sherman Way or Vanowen St’s shopping stretch will satisfy most needs. Located within 4 minutes from Valley College, Ulysses S. Grant High School and near New York Film Academy and Woodbury University. The Tujunga Wash Greenway also gives locals a welcoming place to walk their dogs and to marvel at the renowned half-mile mural depicting the history of California.

Investment Highlights

  • Built in 2001, 6545 Fulton Ave does not fall under Los Angeles city rent control
  • A seven-unit investment opportunity in Van Nuys, between Vanowen St and Victory Blvd in the Valley Glen neighborhood, less than one mile from Los Angeles Valley College
  • A desirable unit mix made up of six spacious 2-bedrooms (approximately 900 SF) and one 3-bedroom (approximately 1,100 SF); units 101 & 103 each have private yard areas and units 205 & 206 have private
  • The subject property has strong in-place cash flow of 4.22% with additional rental upside of over 24%; pro formas can be achieved through further interior renovations such as updated kitchens, appliances, bathrooms, flooring, and lighting when units turn
  • There are 14 gated parking spaces (seven tandem) with no soft story retrofit work required
  • The building has been well maintained throughout the years and there is central air conditioning throughout all units
  • The building is low maintenance for an investor as water, gas and electricity are all separately metered and there is laundry on-site, which the machines are owned, and able to be conveyed
  • 6545 Fulton Ave is within walking distance to major retailers on Victory Blvd including Walgreens, LA Fitness, Vallarta Supermarkets, CVS, Chipotle and McDonalds

Exclusively Listed By

Financing By

Multifamily

6545 Fulton Ave

Listing Price: $2,275,000

Cap Rate
4.22%
Number of Units
7
Price/Unit
$325,000
Price/Gross SF
$380.63
Gross SF
5,977

Investment Highlights

  • Built in 2001, 6545 Fulton Ave does not fall under Los Angeles city rent control
  • A seven-unit investment opportunity in Van Nuys, between Vanowen St and Victory Blvd in the Valley Glen neighborhood, less than one mile from Los Angeles Valley College
  • A desirable unit mix made up of six spacious 2-bedrooms (approximately 900 SF) and one 3-bedroom (approximately 1,100 SF); units 101 & 103 each have private yard areas and units 205 & 206 have private
  • The subject property has strong in-place cash flow of 4.22% with additional rental upside of over 24%; pro formas can be achieved through further interior renovations such as updated kitchens, appliances, bathrooms, flooring, and lighting when units turn
  • There are 14 gated parking spaces (seven tandem) with no soft story retrofit work required
  • The building has been well maintained throughout the years and there is central air conditioning throughout all units
  • The building is low maintenance for an investor as water, gas and electricity are all separately metered and there is laundry on-site, which the machines are owned, and able to be conveyed
  • 6545 Fulton Ave is within walking distance to major retailers on Victory Blvd including Walgreens, LA Fitness, Vallarta Supermarkets, CVS, Chipotle and McDonalds

Investment Overview

Marcus & Millichap is pleased to present 6545 Fulton Ave, in Van Nuys, CA. Built in 2001, this unique property made up of seven units just west of the 170 FWY. This is an ideal investment opportunity located in a proven submarket of Los Angeles with steady in-place cashflow on current income at 4.22%. The building is fully occupied and modestly renovated, allowing an investor to capture an additional 24% in rental upside when units turn through further interior renovations. The building features a unit mix made up of two-bedrooms and three-bedrooms, each with spacious layouts (approximately 900-1,100 sq ft.). The property has ample parking with a total of 14 parking spaces (one tandem space per unit) with no soft story retrofit work required. The building is low maintenance for an investor: water, gas & electric are all separately metered and units have separate individual water heaters. The laundry machines are owned and can be conveyed. The subject property has a gated front and parking entrance for added security. 6545 Fulton Ave located in the Valley Glen neighborhood of Van Nuys, close to many shopping, dining, and entertaining options. A quick drive down Sherman Way or Vanowen St’s shopping stretch will satisfy most needs. Located within 4 minutes from Valley College, Ulysses S. Grant High School and near New York Film Academy and Woodbury University. The Tujunga Wash Greenway also gives locals a welcoming place to walk their dogs and to marvel at the renowned half-mile mural depicting the history of California.

Exclusively Listed By

Financing By

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