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.
Sold for $2,300,000
Zillow last checked:
Listing updated:
Bought with:
Casey Picard, DRE #01921866
Keller Williams Realty
Source: CRMLS,MLS#: GD23170551
Originating MLS: California Regional MLS
Originating MLS: California Regional MLSPrice history
| Date | Event | Price |
|---|---|---|
| 10/10/2023 | Sold | $2,300,000$225/sqft |
Source:  CRMLS #GD23170551 Report a problem | ||
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Estimated market value
$2,630,900
