$9,200,000
6220 Fulton Avenue Van Nuys (los Angeles), CA 91401
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$9,200,000
Est. payment /mo
34,587 SqFt
Pending
6220 Fulton Avenue Van Nuys (los Angeles), CA 91401
UPDATED:
09/04/2024 08:50 PM
Key Details
Property Type Commercial
Sub Type Other
Listing Status Pending
Purchase Type For Sale
Square Footage 34,587 sqft
Price per Sqft $265
MLS Listing ID CL24366129
HOA Y/N No
Year Built 1985
Lot Size 0.547 Acres
Acres 0.55
Property Description
We are proud to present 6228 Fulton Ave, a 30 unit multifamily property located in the Valley Glen neighborhood in the city of Van Nuys. The seller's grandfather built this property in 1985, and it has been passed down from generation to generation since. After nearly 40 years of ownership, the family is offering up this property for sale for the very rst time in its existence.Built in 1985, this property is not subject to Los Angeles Rent Control (RSO). It is only subject to California's AB-1482 rent control laws which limit annual rent increases to 5% + CPI. With CPI currently around 3%, AB-1482 properties can currently receive a rent increase of about 8% this year.This 34,587 square foot property has an even count of 1 bedroom and 2 bedroom units. The 1 bed units average 868 square feet each, and the 2 bed units are an impressive 1,212 sqft each on average. The property has many common area amenities including a laundry room, mail room, and a pool with a courtyard for the tenants to enjoy. The property has a gated parking garage with 54 total parking spaces (8 singles and 23 tandem). The property has 45 total bedrooms so there is enough parking for each bedroom to get 1 spot and 9 additional spots for guests.This property offers a good a value-add opportunity to a savvy invest
Location
State CA
County Los Angeles
Area Listing
Zoning LAR3
Interior
Heating Other
Cooling Central Air
Fireplace No
Laundry Community Facility
Building
New Construction No
Others
Tax ID 2331002033
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Listed by Filip Niculete • Marcus & Millichap
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