Price Reduced Listing
1617 N Fuller Avenue,Los Angeles, CA 90046
Los Angeles, CA 90046
Description
Over a $1M price reduction ! 5 cap / 11 GRM with significant upside and room to convert the recreation rooms into two ADU's. 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. Rents are 35 % below market ! The Market Cap Rate is over 8% with a 8 x GRM. Property has an inviting lobby - large pool- elevator - 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 A/C . Walk score 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. This property is surrounded by condos and an astute buyer can take this property to the next level with some cosmetic upgrades.
Details
| MLS | 24455673 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 1965 |
| Days On Site | 753 |
| Listing Provided By | Keller Williams Studio City | Alex Galuz |
Features
| Bed(s) | 62 |
|---|---|
| Bath(s) | 72 |
| SQ Feet | 42,399 |
| Story(s) | 4 |
| Units | 60 |
| Building(s) | 1 |
| Zoning | LAR3 |
| Acreage | 0.62 |
| Property View | Yes |
Interior
| Heating | Electric, Heat Pump |
|---|---|
| Heating Yes / No | Yes |
| Appliances | Disposal |
Parking
| Parking Features | Underground |
|---|
Area Information
| State | CA |
|---|---|
| County | Los Angeles |
| City | Los Angeles |
| Zip Code | 90046 |
| Area | C20 Hollywood |
| Listing VS Median (in 90046) | |
Price: $15,750,000 low | high Med: $799,000 sqft: 42,399 low | high Med: 960 $ / sqft: $371 low | high Med: $832 On site: 753 low | high Med: 43 | |
Market Activity 90046
Request a showing
Request a showing
Contact
Learn More About This Property
| State | CA |
|---|---|
| County | Los Angeles |
| City | Los Angeles |
| Zip Code | 90046 |
| Area | C20 Hollywood |
| Listing VS Median (in 90046) | |
Price: $15,750,000 low | high Med: $799,000 sqft: 42,399 low | high Med: 960 $ / sqft: $371 low | high Med: $832 On site: 753 low | high Med: 43 | |