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5611 Fulcher Avenue

North Hollywood, CA 91601
  • $4,600,000
  • STATUS: Active Under Contract
  • ON SITE: 179 Days
  • ID#: 23340791
Under Contract
UPDATED: 138 min ago
$4,600,000
  • 23
    BEDS
  • 0.32
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 12,598
    SQFT
  • $365
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1964
County:

School Ratings & Info

Listing Agent(s): Brandon Evans of Rosano Partners (213-802-0305)


Description

We are pleased to present 5611 Fulcher Avenue, 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 units. 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.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2024-06-16T15:29:25.91. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Mainstreet Realtors®. Licensed in the State of California, USA.
www.mainstreetgroup.com/homes/146150350
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5611 Fulcher Avenue North Hollywood, CA 91601

  • Price: $4,600,000
  • Status: Active Under Contract
  • On Site: 179 Days
  • Updated: 138 min ago
  • ID#: 23340791
23
Beds
0
Baths
0
½ Baths
0.32
Acres
12,598
SQFT
$365
$/SQFT
1964
Built
Neighborhood:
NHO - North Hollywood
County:
Los Angeles
Area:
NHO - North Hollywood
Property Description
We are pleased to present 5611 Fulcher Avenue, 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 units. 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.
Exterior Features

Construction Materials Stucco Entry Location Ground Level - no steps Foundation Details Slab Open Parking Spaces 12 Parking Features None Parking Total 15 Pool Features None Pool Private YN No

Interior Features

Accessibility Features None Appliances Gas OvenRangeRefrigeratorRange Hood Cooling Wall/Window Unit(s) Cooling YN Yes Heating Wall Furnace Heating YN Yes

Property Features

Additional Parcels YN No Association YN No Buyer Financing AssumedConventional Cap Rate 6.47 Community Features Gated Disclosures Familial RelationRent Control Gross Income 457383 Laundry Features Common Area Levels Two Listing Agreement Seller Reserved Listing Service Full Service Listing Terms CashConventionalFannie Mae Net Operating Income 297471 New Construction YN No Number Of Units Leased 18 Possession Close Of Escrow Property Condition Additions/AlterationsUpdated/Remodeled Rent Control YN Yes Security Features Gated CommunityKey Card Entry Senior Community YN No Special Listing Conditions Standard Tenant Pays ElectricityWater Zoning LAC2



Based on information from California Regional Multiple Listing Service, Inc. as of 2024-06-16T15:29:25.91. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Mainstreet Realtors®. Licensed in the State of California, USA.
 
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Mainstreet Realtors®
8577 Haven Ave, Suite 100
Rancho Cucamonga CA, 91730
Listing Agent(s): Brandon Evans of Rosano Partners (213-802-0305)