7401 Fountain Avenue
Los Angeles, CA, 90046 $ 2,449,999
Bedrooms8 Baths5.0 Sq 6,040 Monthly Estimate*
$ 16,283
for $2,449,999 with 8 bedrooms and 5 full baths. This 6,040 square foot home was built in 1920 on a lot size of 0.143.
Welcome to 7401 Fountain Avenue, a charming multi-unit property strategically positioned at the crossroads of West Hollywood and Los Angeles. This unique real estate offering comprises a four-unit apartment building alongside a single-family home, which is currently configured as a one-bedroom, one-bathroom residence (previously two bedrooms). Marking its first availability in two decades, this property is situated in one of Los Angeles' most fashionable neighborhoods.The property showcases a significant investment potential, with one unit remodeled approximately two years ago and another eight years prior. The remaining two apartments and the detached home present a wealth of opportunity to enhance and optimize future rental income. Furthermore, the R3 zoning with Tier 1 TOC underscores vast possibilities for future development, adding a layer of value to this investment.Located just south of the iconic Sunset Strip, 7401 Fountain boasts an impressive Walk Score of 92, labeling it as a "Walker's Paradise." Residents enjoy proximity to Beverly Hills, The Grove, and numerous renowned boutiques, eateries, and entertainment venues within a 10-minute drive. In addition to its prime location, the property ensures tenant security with gated front access and an automated gate leading to a shared parking lot with six spaces, alleviating the typical urban parking challenges.Each spacious unit features laundry hook-ups, dining areas, hardwood floors, generous closet space, and additional storage, all adorned with an abundance of original character from its 1920 construction. The property also benefits from updated electrical systems, enhancing its functionality and appeal. Sitting directly across from Plummer Park, this property spans a total lot size of 7,536 square feet, offering both charm and a substantial canvas for modern enhancements.
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FeaturesGeneralInterior Features CeilingFans
Sewer Other
Heating Central
Cooling CentralAir
Possession CloseOfEscrow
Appliances Dishwasher Refrigerator Dryer Washer
Zoning LAR3
Architectural Style Spanish
Pool Features None
Security Features SecurityGate GatedCommunity
Year Built 1920
Tenant Pays CableTV Electricity Gas
Stories 2
Levels Two
Gross Income 11205192.0
Community Features Gated
County Los Angeles
Net Operating Income 59568.24
New Construction N
Property Type ResidentialIncome
HOA / Comm Assn N
Attached Garage N
Garage Y/N N
Special Listing Conditions Standard
Status Active
Directions Corner of Fountain and N Vista
City Los Angeles
View Y/N N
Senior Community Y/N N
Open Parking Spaces 6.0
NumberOfUnitsTotal 5
MLS Area C20 - Hollywood
Lot Size Units SquareFeet
Lot Size Square Feet 6228.0
Private Pool N
Waterfront Y/N N
Carport Y/N N
Number of Units Leased 5
Street Name Fountain
Spa Features None
Property Attached Y/N N
Land Lease Y/N N
Home Warranty Y/N N
Property Condition Fixer
Lease Renewal Y/N N
Additional Parcels Y/N Y
Lease Considered Y/N N
Rent Control Y/N N
Virtual Tour https://my.matterport.com/show/?m=jnKhT8jjX93
Days on Market 8
Standard Status Active
Occupancy Type Tenant
Cap Rate 2.43
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ExteriorParking Features Gated Private
Lot Features FrontYard
Total Parking 6.0
Lot Size Area 6228.0
Number of Buildings 2
Spa N
Building Area Total 6040.0
Lot Size Acres 0.143
Number of Separate Electric Meters 5
Crops Included Y/N N
Open Parking Y/N N
Horse Y/N N
Irrigation Water Rights Y/N N
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InteriorTotal Stories 2
Basement (Y/N) N
Air Conditioning Y/N Y
Heating Y/N Y
Fireplace Y/N N
Full Baths 0
Half Baths 0
1/4 Baths 0
3/4 Baths 0
Street Suffix Avenue
Total Bedrooms 8
Electric On Property Y/N N
Total Baths 5
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* Excluded FeaturesAffordability Calculator
- Monthly Principal & Interest
- $16,283
- Monthly Property Taxes
- --
- Monthly Home Insurance
- --
Default based on a 30-year fixed rate of 6.99% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
Learn more about how to save NearbyMulti-family listings in Los Angeles, CA
Average List Price $1,989,440
Percent of Sale Price 19%
About Los Angeles, CA 3,920,026 Population
6% Since 2002
$ 55,057 Median Income
36.82 Median Age
27% Households with Children
Trends Information provided by ATTOM Data Solutions.
273443 Elementary School
272636 Middle School
Unknown High School High School
Pricing HistoryDate | Price | Price Change | Description |
---|
5/15/2024 | $2,449,999 | | Listed Price |