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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
Sub Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 12,598 sqft
Price per Sqft $341
MLS Listing ID 23-340791
Sold Date 08/23/24
Style Low Rise
Bedrooms 23
Construction Status Additions/Alter, Updated/Remodeled
Year Built 1964
Lot Size 0.322 Acres
Acres 0.322
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 North Hollywood
Zoning LAC2
Rooms
Other Rooms None
Kitchen Remodeled
Interior
Heating Wall
Cooling Window Unit(s), Wall/Window
Equipment Range/Oven, Refrigerator
Laundry Community
Exterior
Parking Features None
Garage Spaces 15.0
Pool None
Roof Type Flat
Handicap Access None
Building
Story 2
Foundation Slab
Water Public
Architectural Style Low Rise
Level or Stories Two
Structure Type Hard Coat, Stucco
Construction Status Additions/Alter, Updated/Remodeled
Others
Special Listing Condition Standard
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Bought with The RFC Group