Van Nuys (los Angeles), CA 91401,6022 Fulton Avenue
$2,300,000
Est. payment /mo
$2,800,000
17.9%
Est.Price: ?

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10,238 SqFt
SOLD DATE : 10/10/2023

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

Year Built 1953

Lot Size 0.285 Acres

Acres 0.28

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

Area Van Nuys

Zoning LAR3

Interior

Heating Natural Gas, Other

Cooling Other

Fireplace No

Laundry Gas Dryer Hookup, Other

Building

Lot Description Other, Back Yard

Sewer Public Sewer

Water Public

New Construction No

Others

Tax ID 2331029015

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Bridge MLS
Listed by Randy Rohrer • Pacific West Business Prop Inc
Bought with CaseyPicard

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Parisa Samimi

+1(510) 410-4050

Founder & Real Estate Broker | License ID: 01858122

Founder & Real Estate Broker License ID: 01858122

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