6729 Fulton AveLos Angeles, CA 91401

This 6-unit apartment building in Van Nuys, CA, presents a compelling value-add investment opportunity. Built in 1954, the property boasts 4,416 square feet on a 0.13-acre lot zoned RD1.5. The building comprises six units: four 1-bedroom/1-bathroom and two 2-bedroom/1-bathroom units, averaging 736 square feet each. Recent upgrades include a new roof (June 2023), new exterior paint, landscaping improvements, and approximately 75% new windows. Several units feature updated shower tiling and enclosures. The property includes six parking spaces and storage units, one per unit, located at the rear. A laundry room, currently used for storage, offers potential for additional income. The building features copper plumbing in certain areas and upstairs units have attractive open beam ceilings. Each unit has its own hot water heater and garbage disposal. The property's strong location off Vanowen St & Fulton Ave in Van Nuys offers convenient access to major thoroughfares, shopping, restaurants, and parks. With a current NOI of $53,571 and a 4.15% cap rate, this property offers significant upside potential, exceeding 60% on current rents. The asking price is $1,290,000, or $215,000 per unit, with a price per square foot of $292.12. The net rentable square footage is 5,040 square feet.