5756 Fulcher Avenue, Los Angeles, California
5756 Fulcher Avenue, Los Angeles, California 91601 - NEW CONSTRUCTION GREEN CERTIFIED THREE UNIT BUILDING IN NOHO ARTS DISTRICT! This property is under construction with an anticipated completion of September 2017. It will be delivered vacant and is not subject to rent control. $145,200 in gross scheduled rents bringing a 13.8 GRM and 5.3 Cap. This luxury three unit project offers a detached front house and a rear duplex with townhouse style units with private back yards, totaling 11 bedrooms and 8.5 bathrooms and individual private laundry rooms. The front house has an attached two car garage and the rear units each have two spaces. Each unit is separately metered for water, gas and electricity as well as a fourth common area electric and water meter for servicing exterior lighting and landscape irrigation. Landscape finishes include 'LID' containers for rain runoff capturing, drought tolerant landscaping presenting the buyer with a low maintenance, environmentally friendly property.This property is situated in a prime and trendy North Hollywood neighborhood. It is in walking distance to the NoHo Arts District providing shopping, arts, entertainment, dining, and nightlife, as well as many local attractions. The area is also very bike friendly with continued development of trails throughout NoHo.New construction three unit projects such as this are a great find and when available lease at higher rates than competing older properties. Neighborhood rents are strong, bringing a 13.8 GRM and 5.3% Cap rate to the buyer.
Listing Courtesy of Seth Hamilton~Citivest Realty Services
“I have worked with Chandy Andre for many years. She has represented me in purchasing and in selling homes. She is knowledgeable, skilled in negotiations, helpful with every step in the process, and willing to go the extra mile to help the sale to go through. She keeps in close contact with the client and with other agents and the escrow companies involved. I highly recommend her for personal, conscientious, caring service of all your real estate needs.”