About The Property

1626 N. Fuller Avenue, a well-maintained 12-unit property located in a prime Hollywood Hills location, just South of Hollywood Boulevard. Conveniently located near Hollywood & Highland shopping center, Walk of Fame, The Sunset Strip, and Runyon Canyon. Selected units have been upgraded to include wood flooring, custom cabinets, quartz/marble countertops, stainless-steel appliances, an in-unit washer/dryer, and private balconies.

Stats

Price $5,550,000

Units 12

Current CAP 3.89%

Price p/ Sq. ft. $443

Price P/ Unit $462,500

Background

This 12-unit trophy asset, located just South of Runyon Canyon, features well-maintained units with condo-like finishes, subterranean parking and generates $350K in annual gross income. After owning the building for several years and ready to take a “hands-off” management approach, the Seller felt it was the right time to cash out.

Result

Two weeks after receiving the listing, Kenny identified a well-qualified buyer before publishing on MLS or LoopNet. Escrow opened in mid-November and closed 60 days later at $5.55M. Ultimately, the Seller was delighted with the speed of the transaction, cashing out 75 days after signing the listing agreement. The sale of 1626 N. Fuller, sold for $463K per unit, making it the second-highest PPU sale in 90046 north of Sunset Blvd.

Speaking for myself and everyone involved, you were absolutely the best broker we could have selected to market our portfolio. You found an incredible buyer and were able to guide us through so many challenges, including a global pandemic, and secured us a price beyond our expectations.

- Seller (60 Units by The Grove)

“I cannot say enough great things about KST. They take care of you, they have the connections needed, and they get the job done! We were amazed at how quickly our sale went through during the COVID pandemic.”

- Seller (4 Units in Beverly Grove)

“It was truly a pleasure working with Kenny. He is professional, honest, hardworking and most importantly did what he said he would. Kenny sold the property at list price in less than 60 days from start to finish.”

- Seller (Beachfront Generational Asset in Playa del Rey)

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