Contemporary
1617 N Fuller Avenue
Los Angeles , CA 90046
MLS#: 24455673
$17,700,000
Property
Beds
62
Full Baths
None
1/2 Baths
None
Year Built
1965
Sq.Footage
42,399
Seller finally says Sell! Nearly $1M price reduction ! 5 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.
Features & Amenities
Interior
-
Total Bedrooms
62
-
Bathrooms
N/A
-
Heating YN
YES
-
Heating
Electric, Heat Pump
-
Pet friendly
N/A
Exterior
-
Garage
No
-
Parking
Underground
-
Pool
No
-
View
Park/Greenbelt
Area & Lot
-
Lot Size(acres)
0.6228
-
Property Type
Residential Income
-
Architectural Style
Contemporary
Price
-
Sales Price
$17,700,000
-
Sq. Footage
42, 399
-
Price/SqFt
$417
HOA
-
Association
No
School District
-
Elementary School
N/A
-
Middle School
N/A
-
High School
N/A
Property Features
-
Stories
4
-
Senior Community YN
NO
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Location
County
Los Angeles
Elementary School
Middle School
High School
Listing Courtesy of Alex Galuz , Keller Williams Realty Calabasas
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