6729 Fulton AveLos Angeles, CA 91401

Property Details for 6729 Fulton Ave

Year built

1954

Construction

WOOD

Lot size

0.13 AC

Property size (Sq ft)

4,416 SF

Zone code

LARD1.5

Property type

Residential income properties

Property subtype

Other apartment buildings

APN

2329-027-009

APU

2329027009

Description

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.

• CAP approach

  CAP return

  Valuation

  6%

  $1,585,135

  6.5%

  $1,463,202

  7%

  $1,358,687

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,301,607

  Geo Method

  $1,301,607

• Alternative Use

  Use

  Valuation

  Residential

  $1,463,202

  Hospitality

  $1,340,285

  Educational

  $1,115,101

  Medical

  $1,153,451

  Retail

  $1,734,602

Location Insight

City

Van Nuys

County

Los Angeles

State

California

Latitude

34.1931

Longitude

-118.423

CBSA code

31080

CBSA name

LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].