Bought with Casey Picard • Keller Williams Realty
$2,300,000
$2,800,000
17.9%For more information regarding the value of a property, please contact us for a free consultation.
6022 Fulton Avenue Van Nuys (los Angeles), CA 91401
10,238 SqFt
Key Details
Sold Price $2,300,000
Property Type Commercial
Sub Type Other
Listing Status Sold
Purchase Type For Sale
Square Footage 10,238 sqft
Price per Sqft $224
MLS Listing ID CRGD23170551
Sold Date 10/10/23
HOA Y/N No
Originating Board Datashare California Regional
Year Built 1953
Lot Size 0.285 Acres
Property Description
Pleased to present 6022-6028 Fulton Avenue, two adjacent 6-unit multifamily properties located in Van Nuys. The property boasts lush landscaping and covered parking with alleyway access. All units are 2 bed 1 bath and share a common courtyard with newly installed coin operated speed queen washers and dryers. Proforma rents are approximately 54% higher than the current rent roll providing excellent upside and a great opportunity for value add. With an in place 4.73% cap rate and 14.63 GRM there is a ton of potential. Ownership has already obtained permits and is in the process of upgrading the power for both buildings with their own 600 amp services and 7 different meters - one for each unit and a house meter. Please be advised LADWP currently has a spike on the properties until the electric panels are upgraded.
Location
State CA
County Los Angeles
Interior
Heating Natural Gas, Other
Cooling Other
Fireplace No
Laundry Gas Dryer Hookup, Other
Building
Lot Description Other, Back Yard
Water Public
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