1617 N Fuller Ave, Los Angeles, CA 90046
- $16,495,000
- 62
- BD
- 72
- BA
- 42,399
- SqFt
- List Price
- $16,495,000
- Price Change
- ▼ $455,000 1773307493
- MLS#
- 24-455673
- Year Built
- 1965
- Bedrooms
- 62
- Bathrooms
- 72
- Living Sq. Ft
- 42,399
- Lot Size
- 27,129
- Days on Market
- 645
- Property Type
- Multifamily
- Style
- Contemporary
- Stories
- 4
Property Description
Seller finally says Sell! Over a $1M price reduction ! 5.25 cap 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 9 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 central 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.
Additional Information
- Other Buildings
- None
- Heat
- Heat Pump, Electric
- Cooling
- Air Conditioning
- View
- Green Belt
- Number of Cars in Garage
- Subterr Tandem, Subterranean
Mortgage Calculator
Courtesy of Keller Williams Realty Calabasas, Alex Galuz - CA DRE#01291486
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