6220 Fulton Avenue

Van Nuys, CA 91401

$9,995,000

Listed Price
N/A

bed Beds

N/A

shower Baths

N/A sqft

straighten $288 / sqft

1985

calendar_month Built

Property Description

We are proud to present 6228 Fulton Ave, a 30 unit multifamily property located in the Valley Glen neighborhood in the city of Van Nuys. The seller's grandfather built this property in 1985, and it has been passed down from generation to generation since. After nearly 40 years of ownership, the family is offering up this property for sale for the very rst time in its existence.Built in 1985, this property is not subject to Los Angeles Rent Control (RSO). It is only subject to California's AB-1482 rent control laws which limit annual rent increases to 5% + CPI. With CPI currently around 3%, AB-1482 properties can currently receive a rent increase of about 8% this year.This 34,587 square foot property has an even count of 1 bedroom and 2 bedroom units. The 1 bed units average 868 square feet each, and the 2 bed units are an impressive 1,212 sqft each on average. The property has many common area amenities including a laundry room, mail room, and a pool with a courtyard for the tenants to enjoy. The property has a gated parking garage with 54 total parking spaces (8 singles and 23 tandem). The property has 45 total bedrooms so there is enough parking for each bedroom to get 1 spot and 9 additional spots for guests.The property has been professionally managed by IMT Residential for decades, and they always keep the property's conditions up to their high level of standards. In 2022, the owners spent nearly $150,000 on the following items: exterior/interior property paint, lighting upgrade throughout property, renished the pool, replaced all hallway oors, and upgraded the laundry machines to digital payment systems.

Interior Features

Bedroom Information
Bedrooms N/A
Bathroom Information
Bathrooms N/A
Interior Information
Cooling Type Central Air

Listing Information

Address 6220 Fulton Avenue
City Van Nuys
State CA
Zip 91401
County Los Angeles
Listing Agent Filip Niculete DRE#01905352
Co-Listing Agent Glen Scher DRE#01962976
Courtesy Of Marcus & Millichap
MLS 24366129
List Price $9,995,000
Status Pending
Type Residential Income
Structure Size N/A
Lot Size 23,822
Year Built 1985
DOM 38

Exterior Information

Maps

Listing information courtesy of: Filip Niculete, Glen Scher, Marcus & Millichap . *Based on information from the Association of REALTORS/Multiple Listing as of Apr 25th, 2024 at 12:03 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.