The Neema Group of Marcus & Millichap is pleased to present 6545 Fulton Ave, in Van Nuys, CA. Built in 2001, this unique property made up of seven units just west of the 170 FWY. This is an ideal investment opportunity located in a proven submarket of Los Angeles with steady in-place cashflow on current income at 4.22%. The building is fully occupied and modestly renovated, allowing an investor to capture an additional 24% in rental upside when units turn through further interior renovations.
The building features a unit mix made up of two-bedrooms and three-bedrooms, each with spacious layouts (approximately 900-1,100 sq ft.). The property has ample parking with a total of 14 parking spaces (one tandem space per unit) with no soft story retrofit work required. The building is low maintenance for an investor: water, gas & electric are all separately metered and units have separate individual water heaters. The laundry machines are owned and can be conveyed. The subject property has a gated front and parking entrance for added security.
6545 Fulton Ave located in the Valley Glen neighborhood of Van Nuys, close to many shopping, dining, and entertaining options. A quick drive down Sherman Way or Vanowen St’s shopping stretch will satisfy most needs. Located within 4 minutes from Valley College, Ulysses S. Grant High School and near New York Film Academy and Woodbury University. The Tujunga Wash Greenway also gives locals a welcoming place to walk their dogs and to marvel at the renowned half-mile mural depicting the history of California.
SAN FERNANDO VALLEY
The San Fernando Valley is a region of Los Angeles County in Southern California, nestled to the northwest of the Los Angeles Basin. The San Fernando Valley includes the northern half of the city of Los Angeles; two-thirds of the Valley’s area is within Los Angeles’ city limits. Other cities in the Valley include Van Nuys, Sun Valley, Valley Glen, North Hollywood & Panorama City.
Most of the Valley is laid out in a grid pattern with streets running east-west and north-south. The car is the main method of transportation in the Valley, as well as all the Los Angeles area, but Metro buses and Metro Rail, and Metrolink commuter trains can help you get around. The Metro Orange Line is a busway that runs east-west from the North Hollywood Metro Rail station to the Warner Center business district in Woodland Hills then north-south up to its terminus in Chatsworth. Several bike paths and bike lanes can be found.
Walking can be an option in denser neighborhoods such as Downtown Burbank, the NoHo Arts District, and along Ventura Boulevard. For sheer length and diversity, Ventura Blvd in the San Fernando Valley would satiate any shopping need in its 10-mile stretch.
Located less than 20 miles away from LA’s Westside, Hollywood, Downtown LA, and other popular neighborhoods in the Valley, residents living in Van Nuys can easily get around town without a hitch.
Cutting through the middle of the neighborhood is the 405 freeway (San Diego Freeway), but the community is also near the 101 (Ventura Freeway), 170 (Hollywood Freeway), 118 (Simi Valley Freeway), and the I-5 (Golden State Freeway). Residents living in this neighborhood can also skip the busy commute to LAX, and instead, hop on a flight out of Van Nuys Airport.