The Enclave: 5.65% Current Cap Rate

Highlights:

• Prime multifamily investment offered at an attractive 5.65% cap rate
• (19) 1-bedroom + 1-bath & (3) 2-bedroom + 2-bath units
• 23% rental upside potential
• (22) gated assigned parking spaces
• (8) massive unutilized 6’ x 16’ walk-in storage rooms
• Secured intercom entry and CCTV security system
• Select units offering spacious balconies and or private patios
• Community amenities include a swimming pool, outdoor lounge, and onsite laundry
• Select units have been renovated and offer a stainless steel package
• Each unit is cable-ready and provides air conditioning and heating
• Located directly across the street from Plummer Park and farmer’s market
• The property is situated on a quiet tree-lined street with low-traffic
• Located 1-block from the world-famous Sunset Strip
• An amazing walk score of (94) “Walkers Paradise”
• Only a step from fantastic restaurants, amazing nightlife, and chic retailers
• Minutes drive to Beverly Hills, Hollywood, and Hancock Park

Description:

Lucrum Real Estate Group is proud to present The Enclave, located at 1226 North Fuller Avenue in the City of West Hollywood, California. This investment opportunity presents an ideal income property for an investor looking to acquire an attractively priced asset in a highly desirable sub-market of Los Angeles.

The Enclave is a highly improved and well-kept apartment complex comprised of (19) 1-Bedroom + 1-Bath and (3) 2-Bedroom + 2-Bath well-appointed units, totaling 17,468± BSF. It was built in 1964 and is located on a 14,858± SF lot, zoned WDR3B*.

Situated on a quiet and beautiful tree-lined street, The Enclave provides each of its tenants with an array of communal amenities, including secured intercom entry with 24-hour CCTV security cameras through­out, along with 22 gated assigned parking spaces, lush and mature landscaping, a sparkling swimming pool with outdoor lounge, and an on-site laundry facility.

In addition, the property features (8) massive unutilized 6’ x 16’ walk-in storage rooms that the current ownership has yet to monetize, allowing for the potential of an additional income stream.

1-Bedroom + 1-Bath Units:

There is a total of 19 one-bedroom units, with an average rent of $2,026. Current market rents for similar one-bedroom units in the area are hovering around $2,500± providing a 23% rental upside. Several units have been renovated with laminate wood floors, granite countertops, and a stainless-steel appliance package. In addition to those upgrades, unit amenities also include air conditioning, microwave, dishwasher, range oven, and balconies or patios.

2-Bedroom + 2-Bath Units:

There is a total of (3) two-bedroom units, with an average rent of $2,430. Current market rents for similar 2-bedroom units in the area are averaging $2,995± for a 23% rental upside potential. Several units have been renovated with laminate wood floors, granite countertops, a stainless-steel appliance package, and renovated bathrooms. In ad­dition to those upgrades, unit amenities also include air conditioning, microwave, dishwasher, range oven, and balconies or patios.
Nestled between the glitz of Beverly Hills and the star-studded allure of Hollywood, West Hollywood—affectionately known as WeHo—stands out as a bold, creative, and dynamic city. It’s a place where sophistication meets edge, where the streets pulse with life.

West Hollywood is more than just a neighborhood; it’s a lifestyle. Its iconic streets—like the bustling Sunset Strip, the high-fashion hub of Melrose Avenue, and the historic Santa Monica Boulevard—are alive with activity day and night. From world-famous music venues and chic rooftop bars to vintage shops and cutting-edge galleries, there’s always something to explore. The city’s size—just under two square miles—makes it wonderfully intimate. Locals often describe it as a place where big-city excitement meets the warmth of a small-town community.

WeHo has long been a haven for artists, visionaries, and free spirits. Its vibrant LGBTQ+ community has shaped much of the city’s identity, fostering a welcoming and inclusive atmosphere that’s celebrated in events like the West Hollywood Pride Festival and the Halloween Carnaval. Street art, public murals, and avant-garde installations can be found throughout the city, adding splashes of creativity to its urban canvas.

Life in West Hollywood is stylish, comfortable, and distinctly Californian. Apartments and condos here often blend mid-century charm with modern luxury. Tree-lined streets are dotted with cozy cafes, trendy restaurants, and boutique gyms, making it easy to balance indulgence with wellness. West Hollywood is also one of the most walkable cities in Southern California, meaning everything you need is just steps away.

For nature lovers, the city offers lush escapes like West Hollywood Park and Plummer Park, and the nearby Hollywood Hills provide hiking trails with panoramic views of Los Angeles.

Documents: