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7047 Fulton Ave 6 Unit Apartment Building $1,200,000 ($200,000/Unit) 5.91% Cap Rate North Hollywood, CA 91605
Investment Highlights
- Six unit in an excellent Valley Glen rental pocket of North Hollywood
- Upside in existing rents
- Excellent unit mix consisting of (2) 1+1 units and (4) 2+1 units
- Tenants enjoy the close proximity to Sherman Way shops and restaurants, Noho West, the 170, 101, and 405 freeways
Executive Summary
Equity Union Commercial is proud to represent this 6 unit property in North Hollywood.
The property was constructed in 1957. Its unit mix consists of (2) 1+1 units and (4) 2+1 units. With a lot size of 6,000 square feet, the property has a total of 4,400 rentable square feet.
North Hollywood offers many things to see and do, especially in its NoHo Arts District, which has been greatly expanding into a hip, pedestrian-friendly urban village. North Hollywood has historic shopping and interesting local restaurants and bars that make it a diverse, thriving neighborhood. It is home to many theatres, art galleries, cafes, music recording venues, and shops. Its residents have easy access of public transportation with the Metro rail stations and the North Hollywood Red Line and Orange line bus ways. They also have easy access to the 101, 170, and 134 freeways. North Hollywood is currently working on a $1 billion mixed-use development at Lankershim and Chandler; the project will re-develop 15.6 acres of commercial and residential space, including 562 residential units and three high-rise office towers. This, combined with an already thriving Arts District, makes North Hollywood a smart place to invest.
The property was constructed in 1957. Its unit mix consists of (2) 1+1 units and (4) 2+1 units. With a lot size of 6,000 square feet, the property has a total of 4,400 rentable square feet.
North Hollywood offers many things to see and do, especially in its NoHo Arts District, which has been greatly expanding into a hip, pedestrian-friendly urban village. North Hollywood has historic shopping and interesting local restaurants and bars that make it a diverse, thriving neighborhood. It is home to many theatres, art galleries, cafes, music recording venues, and shops. Its residents have easy access of public transportation with the Metro rail stations and the North Hollywood Red Line and Orange line bus ways. They also have easy access to the 101, 170, and 134 freeways. North Hollywood is currently working on a $1 billion mixed-use development at Lankershim and Chandler; the project will re-develop 15.6 acres of commercial and residential space, including 562 residential units and three high-rise office towers. This, combined with an already thriving Arts District, makes North Hollywood a smart place to invest.
Financial Summary (Actual - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts Under Contract
| Price | $1,200,000 | Apartment Style | Low-Rise |
| Price Per Unit | $200,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.14 AC |
| Cap Rate | 5.91% | Building Size | 4,400 SF |
| Gross Rent Multiplier | 9.43 | No. Stories | 2 |
| No. Units | 6 | Year Built | 1957 |
| Property Type | Multifamily | Parking Ratio | 1.36/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | LAR3 - Multiple Dwelling | ||
| Price | $1,200,000 |
| Price Per Unit | $200,000 |
| Sale Type | Investment |
| Cap Rate | 5.91% |
| Gross Rent Multiplier | 9.43 |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.14 AC |
| Building Size | 4,400 SF |
| No. Stories | 2 |
| Year Built | 1957 |
| Parking Ratio | 1.36/1,000 SF |
| Zoning | LAR3 - Multiple Dwelling |
Amenities
Unit Amenities
- Heating
- Kitchen
- Refrigerator
- Range
- Tub/Shower
Site Amenities
- 24 Hour Access
- Tenant Controlled HVAC
- Public Transportation
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 2 | - | - |
| 2+1 | 4 | - | - |
1 1
Moderately walkable
70/100
Exceptionally drivable
100/100
Some public transit
40/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 2328-023-020 | Improvements Assessment | $292,724 |
| Land Assessment | $125,439 | Total Assessment | $418,163 |
Property Taxes
Parcel Number
2328-023-020
Land Assessment
$125,439
Improvements Assessment
$292,724
Total Assessment
$418,163
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7047 Fulton Ave