$3,498,000
***Existing Loan is assumable at interest rate of 5.73%, Balance $1,709,000, with 1% assumption fee.
Exceptional 16-unit apartment community located in the highly desirable Valley Glen neighborhood of Van Nuys. Built in 1963, this well-maintained investment opportunity features an attractive unit mix of eleven 2-bedroom/1-bath units, two 2-bedroom/2-bath units, and three spacious 3-bedroom/2-bath units, appealing to a broad tenant base. Several units have been updated with modern kitchens, granite countertops, white cabinetry, stainless steel appliances, and refreshed bathrooms, providing immediate appeal while offering additional value-add potential.
The property offers desirable amenities including a courtyard swimming pool, on-site laundry facilities, 16 on-site parking spaces (13 covered and 3 uncovered), attractive landscaping, and a gated, professionally maintained environment. Spacious floor plans averaging approximately 1,000 square feet contribute to strong tenant demand.
Ideally situated just north of Victory Boulevard, the property is surrounded by an abundance of shopping, dining, parks, and everyday conveniences. Residents enjoy easy access to the 170, 101, and 405 Freeways, providing convenient connectivity throughout the San Fernando Valley and Greater Los Angeles. Nearby employers, schools, and entertainment destinations further enhance the property's long-term desirability.
This is an outstanding opportunity for investors seeking stable in-place income with the potential to increase cash flow through continued interior renovations and strategic asset management in one of the Valley's strongest multifamily rental markets.
WS26148741
MLS
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Active
Status
6535 Fulton, Los Angeles