Log In/Sign Up
Your email has been sent.
Value Add Opportunity | 10% Upside In Rents 6034 Fulton Ave 12 Unit Apartment Building $4,301,829 CAD ($358,486 CAD/Unit) 5.36% Cap Rate Van Nuys, CA 91401
Investment Highlights
- Non-RSO / AB 1482 Only: Exempt from the City of LA's Rent Stabilization Ordinance.
- Diverse Unit Mix: The property offers three floor plans: 1B/1B flats (650 SF), 1B/1B + Loft units (850 SF),and 2B/2B (904 SF)
- First Offering in 30 Years: Acquired in 1996 as an REO sale and held continuously by the Berkus Estate, this property has never been offered for sale.
- 10.1% Rent Upside: Current rents average $2,029/month across all unit types.
- This variety creates natural tenant segmentation, reduces concentration risk, and supports strong occupancy across multiple renter demographics.
Executive Summary
The LAAA Team of Marcus & Millichap is pleased to present 6034 Fulton Avenue, a 12-unit multifamily property located on a quiet residential block in the Valley Glen/Van Nuys border submarket of the San Fernando Valley. Built in 1990, the two-story building encompasses 9,614 square feet of rentable area on an 8,540-square-foot lot zoned R3-1. The property features a diverse unit mix of four one-bedroom/one-bath flats, four one-bedroom-plus-loft/one-bath units, and four two-bedroom/two-bath flats, offering functional layouts ranging from 650 to 904 square feet.
The property is exempt from the City of Los Angeles Rent Stabilization Ordinance (RSO), subject only to AB 1482 (the California Tenant Protection Act), which allows annual rent increases of 5% plus CPI. All 12 units are individually metered for gas and electric, with the owner responsible only for cold water and central boiler hot water. The diverse unit mix appeals to a broad tenant pool, from singles and students (Valley College is 0.5 miles away) to couples and small families, supporting stable occupancy and organic demand throughout market cycles.
With in-place rents averaging $2,029 per month and achievable market rents of $2,233 per month, the property presents a 10.1% rent upside opportunity for a new buyer. The 30-year ownership under the Berkus Estate represents the first offering of this asset since 1996, positioning it as a rare acquisition opportunity in a supply-constrained corridor. TOC Tier 3 eligibility provides additional long-term density bonus potential for a future development play, adding strategic optionality beyond the near term income upside.
The property is exempt from the City of Los Angeles Rent Stabilization Ordinance (RSO), subject only to AB 1482 (the California Tenant Protection Act), which allows annual rent increases of 5% plus CPI. All 12 units are individually metered for gas and electric, with the owner responsible only for cold water and central boiler hot water. The diverse unit mix appeals to a broad tenant pool, from singles and students (Valley College is 0.5 miles away) to couples and small families, supporting stable occupancy and organic demand throughout market cycles.
With in-place rents averaging $2,029 per month and achievable market rents of $2,233 per month, the property presents a 10.1% rent upside opportunity for a new buyer. The 30-year ownership under the Berkus Estate represents the first offering of this asset since 1996, positioning it as a rare acquisition opportunity in a supply-constrained corridor. TOC Tier 3 eligibility provides additional long-term density bonus potential for a future development play, adding strategic optionality beyond the near term income upside.
Property Facts
| Price | $4,301,829 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $358,486 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.20 AC |
| Cap Rate | 5.36% | Building Size | 9,614 SF |
| Gross Rent Multiplier | 10.92 | Average Occupancy | 90% |
| No. Units | 12 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1990 |
| Property Subtype | Apartment | Parking Ratio | 1.25/1,000 SF |
| Zoning | R3-1, Los Angeles | ||
| Price | $4,301,829 CAD |
| Price Per Unit | $358,486 CAD |
| Sale Type | Investment |
| Cap Rate | 5.36% |
| Gross Rent Multiplier | 10.92 |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.20 AC |
| Building Size | 9,614 SF |
| Average Occupancy | 90% |
| No. Stories | 2 |
| Year Built | 1990 |
| Parking Ratio | 1.25/1,000 SF |
| Zoning | R3-1, Los Angeles |
Amenities
Site Amenities
- Laundry Facilities
- Pool
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 8 | - | 625 - 700 |
| 2+2 | 4 | - | 950 |
1 1
Moderately walkable
60/100
Exceptionally drivable
100/100
Some public transit
40/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 2331-028-012 | Improvements Assessment | $943,282 CAD |
| Land Assessment | $504,004 CAD | Total Assessment | $1,447,286 CAD |
Property Taxes
Parcel Number
2331-028-012
Land Assessment
$504,004 CAD
Improvements Assessment
$943,282 CAD
Total Assessment
$1,447,286 CAD
Contacts
-
Glen Scher -
Filip Niculete -
Martin Agnew -
Ryan Rothstein-Serling -
Joshua Yaris -
Marcus & Millichap
1 of 8
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
1 of 1
Presented by
Value Add Opportunity | 10% Upside In Rents | 6034 Fulton Ave
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.