7048 Fulton Ave, North Hollywood, CA 91605

$2,649,000
18
BD
16
BA
10,682
SqFt
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List Price
$2,649,000
MLS#
26994247
Year Built
1977
Bedrooms
18
Bathrooms
16
Living Sq. Ft
10,682
Lot Size
14,260
Days on Market
6
Property Type
Multifamily
Stories
2
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+1 213-447-3695

Property Description

Situated within one of the densest residential submarkets of the San Fernando Valley, the property allows a new investor excellent value with its low $165,563 per unit entry point. An owner can improve income in both the near and long term by recapturing the approximately 27% in rent upside. With all seismic retrofit repairs already completed (Buyer to verify), a new investor is saved from an otherwise costly maintenance expense. The property also generates a supplemental revenue stream through tenants' use of the on-site laundry facilities. The building is also fully parked, containing a parking space for each bedroom of the property. Situated near the intersection of Fulton Avenue and Sherman Way, the two-story building offers tenants convenient access to the Greater Los Angeles Metro Area via the nearby 170, 101, 5, and 405 Freeways. Residents also enjoy the benefits of the building's proximity to several national retailers, including Trader Joe's, Home Depot, Ralphs, Vallarta Supermarkets, and Walgreens, all within three miles of the property.

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Courtesy of Marcus & Millichap, Roderick 'Rick' Raymundo - CA DRE#01357019

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