$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 AVE Van Nuys, CA 91401
10,238 SqFt
Key Details
Sold Price $2,300,000
Property Type Multi-Family
Sub Type Mixed Use
Listing Status Sold
Purchase Type For Sale
Square Footage 10,238 sqft
Price per Sqft $224
MLS Listing ID GD23170551
Sold Date 10/10/23
HOA Y/N No
Year Built 1953
Lot Size 0.285 Acres
Acres 0.2847
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 Vn - Van Nuys
Zoning LAR3
Rooms
Ensuite Laundry Common Area, Electric Dryer Hookup, Gas Dryer Hookup, In Carport
Interior
Laundry Location Common Area,Electric Dryer Hookup,Gas Dryer Hookup,In Carport
Heating Ductless, Natural Gas
Cooling Gas
Fireplaces Type Gas, Kitchen
Fireplace Yes
Laundry Common Area, Electric Dryer Hookup, Gas Dryer Hookup, In Carport
Exterior
Garage Carport
Carport Spaces 12
Pool None
Community Features Urban, Valley
Utilities Available Cable Connected, Electricity Connected, Natural Gas Connected, Phone Available, Sewer Connected
Parking Type Carport
Total Parking Spaces 12
Private Pool No
Building
Lot Description Back Yard, Sprinklers In Front, Landscaped, Sprinklers Timer
Story 2
Entry Level Two
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 2331029015
Acceptable Financing Cash to New Loan, 1031 Exchange
Listing Terms Cash to New Loan, 1031 Exchange
Financing Cash
Special Listing Condition Standard
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Bought with Casey Picard • Keller Williams Realty