Dennis Jackson Acquires 12-Unit Multifamily Property From Clyde Berkus For $2,910,000

6034 Fulton Avenue is a multifamily property located in Van Nuys, featuring 12 units. The property encompasses a total of 9,614 square feet and was sold for $2,910,000, resulting in a price per unit of $242,500 and a price per square foot of $302. Built in 1990, the asset was not subject to the City of Los Angeles Rent Stabilization Ordinance and had been held by the same family estate for approximately 30 years before being brought to market for the first time in three decades.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $2,910,000
• Units: 12
• Square Footage: 9,614
• Price Per Unit: $242,500
• Price Per Square Foot: $302
• Buyer: Dennis Jackson
• Seller: Clyde Berkus
• Seller's Representatives: Filip Niculete & Glen Scher, Joshua Yaris, Martin Agnew & Ryan Serling - Marcus & Millichap

The LAAA Team and Agnew Serling Group of Marcus & Millichap facilitated the sale, successfully closing the property in roughly six weeks. The transaction garnered strong investor interest, leading to a favorable outcome for the seller.