$4,600,000 Price Analysis   ♡   North Hollywood, CA 91601 23 bed 21 bath 12,598 SqFt ($365/SqFt) 0.32 acre lot. Built 1964 Listed 2023-12-19 | Ⓧ USDA Ineligible due to price & location near Los Angeles |
We are pleased to present 5611 Fulcher Avenue
* Has Contingent Offer *A 21-unit multifamily investment opportunity in prime North Hollywood Arts District. This rare investment opportunity is a well-maintained high cash flow asset with strong upside potential located in one of LA's strongest rental markets. The building is comprised of 21 units with a mix of (3) Studios, (16) 1 Bed, 1 Bath and (2) 2 Bed, 1 Bath unts. Two of the studios are brand new ADUs included and leased up. Several of the units have been renovated in the past 5 years with hardwood floors, new cabinetry, updated bathrooms, stainless steel appliances.
Several of the units have RUBS implemented (up to $975 billed back per month with current leases). 5611 Fulcher Avenue is ideally located in the high demand submarket of North Hollywood, which boasts a high-end young adult demographic, dense immediate population, high barriers to entry and strong market fundamentals yielding an investor/developer landlord favored market conditions with significant growth potential. Centrally located nearby NoHo Arts District and the Metro Red Line Station and conveniently positioned in the center of a broad range of employment and retail options, 5611 Fulcher Avenue is surrounded by affluent high-end neighborhoods, boutique bars / restaurants and numerous high profile office towers and mixed use developments.
Presented by Brandon Evans at
Rosano Partners.
Property MLS #23-340791 from TheMLSCLAW
Full Bathrooms: 21
Bathroom 1 Features: Remodeled
Range Hood
Oven-Gas
Laundry Facilities: Community
Laundry Features: Community
Kitchen Features: Remodeled
Heating Features: Wall
Parking Total: 15
Lot Size Dimensions: 100x140
Lot Size Source: Assessor
Lot Size Square Feet: 14030
Calculated Total Monthly Association Fees: 0
Number of Units: 21
Unit Features: 1 BathsTotal: 1, 1 SquareFeet: 1750, 2 BedsTotal: 1, 2 BathsTotal: 1, 2 SquareFeet: 2150, 3 BedsTotal: 2, 3 BathsTotal: 1, 3 SquareFeet: 2600
Tenant Pays: Electric, Water
Vacancy Allowance: 13721
County: Los Angeles
Cross Street: Fulcher Ave and Burbank Blvd
Cap Rate: 6.47
Directions: Fulcher Ave and Burbank Blvd
Source Property Type: Residential Income
Area: North Hollywood
Source Neighborhood: North Hollywood
Owner Pays: Gas, Water
Parcel Number: 2337-031-030
Postal Code Plus 4: 1964
Property Location: City
Zoning: LAC2
Source System Name: C2C
$4,600,000
TheMLSCLAW
Listing removed 2024-03-21
$0
TheMLSCLAW
Price Changed 2024-01-11
$4,600,000
TheMLSCLAW
Listing removed 2023-12-20
$0
TheMLSCLAW
Listed 2023-12-19
$4,750,000
TheMLSCLAW
Price Changed 2023-11-06
$4,900,000
TheMLSCLAW
Price Changed 2023-10-03
$5,090,000
TheMLSCLAW
Price Changed 2023-09-07
$5,275,000
TheMLSCLAW
Listed 2023-08-31
$5,475,000
TheMLSCLAW
Year Built: 1964
Building Exterior Type: Hard Coat Stucco, Stucco
Common Walls: Attached
Entry Location: Ground Level - no steps
Foundation Details: Concrete Slab
Levels: Two Level
Property Age: 60
Property Condition: Additions/Alter, Updated/Remodeled
Roof: Flat
Levels or Stories: 2
Building Total Stories: 2
House Style: Low Rise
Year Built Source: Assessor
Architectural Style: Low Rise
Security Features: Gated, Card/Code Access
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The property loan eligibility may be subject to additional requirements beyond geographical location including but not limited to the condition of the property. Speak with a real estate professional to find out more about the eligibility of a specific property.