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5611 Fulcher AVE North Hollywood, CA 91601
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Key Details
Sold Price $4,300,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 12,598 sqft
Price per Sqft $341
MLS Listing ID 23340791
Bedrooms 23
Year Built 1964
Lot Size 0.322 Acres
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.
Location
State CA
County Los Angeles
Area Nho - North Hollywood
Zoning LAC2
Interior
Heating Wall Furnace
Cooling Wall/Window Unit(s)
Laundry Common Area
Exterior
Parking Features None
Pool None
Community Features Gated
Building
Story 2
Foundation Slab
New Construction No
Others
Acceptable Financing Cash, Conventional, Fannie Mae
Listing Terms Cash, Conventional, Fannie Mae
Special Listing Condition Standard
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Bought with Aaron Kaboud • The RFC Group