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Fuller Apartments 1617 N Fuller Ave 60 Unit Apartment Building $17,700,000 ($295,000/Unit) 5.12% Cap Rate Los Angeles, CA 90046
EXECUTIVE SUMMARY
Seller finally says Sell! $1 M price reduction ! 5 cap with tons of upside .
Trophy Value Add Muti-family Investment opportunity in a Prime Hollywood Hills area of Los Angeles, CA.
This Property has been in same family for over 40 years. Surrounded by condos- this could be taken to the next level with some minor cosmetic additions.
Rents are 35 % below market ! The Market Cap Rate is over 8 % with a 9 x GRM.
Property has a welcoming lobby - large pool- updated elevator - there is room to add multiple ADU's , a gym and a roof top deck.
The property was built in 1965 but completely renovated in the 1980s- Units have Air Conditioning .
Walk score here is 94. Premiere hiking trails nearby as well as Hollywood and Sunset Blvd eateries and shops.
This is an amazing rental area -one of the most trendy, desirable and walkable neighborhoods in LA.
Metro line is only a 15 min walk away and centrally located with Easy access to 101 freeway , Downtown and the San Fernando Valley.
There is a tremendous amount of development and job availability in the immediate area.
Netflix, Sunset Gower Studios, Nickelodeon, Capital Records within a 10 min drive.
Trophy Value Add Muti-family Investment opportunity in a Prime Hollywood Hills area of Los Angeles, CA.
This Property has been in same family for over 40 years. Surrounded by condos- this could be taken to the next level with some minor cosmetic additions.
Rents are 35 % below market ! The Market Cap Rate is over 8 % with a 9 x GRM.
Property has a welcoming lobby - large pool- updated elevator - there is room to add multiple ADU's , a gym and a roof top deck.
The property was built in 1965 but completely renovated in the 1980s- Units have Air Conditioning .
Walk score here is 94. Premiere hiking trails nearby as well as Hollywood and Sunset Blvd eateries and shops.
This is an amazing rental area -one of the most trendy, desirable and walkable neighborhoods in LA.
Metro line is only a 15 min walk away and centrally located with Easy access to 101 freeway , Downtown and the San Fernando Valley.
There is a tremendous amount of development and job availability in the immediate area.
Netflix, Sunset Gower Studios, Nickelodeon, Capital Records within a 10 min drive.
PROPERTY FACTS
| Price | $17,700,000 | Apartment Style | Low-Rise |
| Price Per Unit | $295,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.62 AC |
| Cap Rate | 5.12% | Building Size | 42,399 SF |
| Gross Rent Multiplier | 12 | Average Occupancy | 100% |
| No. Units | 60 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1965 |
| Property Subtype | Apartment | Parking Ratio | 1.51/1,000 SF |
| Zoning | R5-1, Los Angeles | ||
| Price | $17,700,000 |
| Price Per Unit | $295,000 |
| Sale Type | Investment |
| Cap Rate | 5.12% |
| Gross Rent Multiplier | 12 |
| No. Units | 60 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.62 AC |
| Building Size | 42,399 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1965 |
| Parking Ratio | 1.51/1,000 SF |
| Zoning | R5-1, Los Angeles |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Balcony
- Heating
- Kitchen
- Refrigerator
SITE AMENITIES
- Courtyard
- Fitness Center
- Laundry Facilities
- Pool
- Security System
- Roof Terrace
- Bicycle Storage
- Elevator
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Walk Score®
Walker's Paradise (95)
PROPERTY TAXES
| Parcel Number | 5550-016-020 | Improvements Assessment | $3,739,373 |
| Land Assessment | $807,350 | Total Assessment | $4,546,723 |
PROPERTY TAXES
Parcel Number
5550-016-020
Land Assessment
$807,350
Improvements Assessment
$3,739,373
Total Assessment
$4,546,723
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Fuller Apartments | 1617 N Fuller Ave
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