7401 Fountain Avenue

Los Angeles, CA 90046

$2,449,999
Price
8
Beds
5
Baths
6,040 Sq. Ft.
$406 / Sq. Ft.
6,040
Sq. Ft.
$406
per Sq. Ft.

Description

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...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.

Listing Agent

  1. Sebastian Wolski

    Sebastian Wolski

    Listing Agent

    Compass

    DRE #01947480

Property Details for 7401 Fountain Avenue

Zoning
LAR3
Style
Spanish
Cross Streets
Fountain and Vista
Parcel Number
5550023008
Total Units
5.0
Living Area
6040
Source Living Area
Vendor Enhanced
Area
Hollywood (C20)

Location

Listing Courtesy of Compass, Sebastian Wolski, DRE #01947480
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LISTING UPDATED: 05/21/2024 12:01 AM

Property Details for 7401 Fountain Avenue

StatusActive
MLS #24-391369
Days on Market20
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1920
Lot Size0.14 AC / 6,228 SF
CountyLos Angeles County

Location

Listing Courtesy of Compass, Sebastian Wolski, DRE #01947480
Add your commute

Virtual Tour

Building Information for 7401 Fountain Avenue

Stories2Residences-Year Built1920Building Size-Lot Size0.14 AC / 6,228 SF

Payment Calculator

$15,033 per month

30 year fixed, 7.25% Interest

Principal and Interest

$13,371

Property Taxes

$1,662

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 7401 Fountain Avenue

Community / Development
Community / Development
  • Tax Mello Roos: No
  • Number Of Units: 5
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 2
  • Number Of Buildings: 2
  • Type Of Units: 4 Apts 1 SFH
  • Security Features: Automatic Gate, Gated
  • Property Condition: Fixer
  • Water: Public
  • Sewer: In Street
  • Water Heaters: Yes
  • Water Heater Features: Gas
Contract Info
Contract Info
  • Probate: No
  • Disclosures: As Is
  • Listing Type: Exclusive Agency
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $112,052
  • Net Operating Income: $59,568.24
  • Gross Income: $11,205,192
  • Cap Rate: 2.43%
  • Gross Rent Multiplier: $21.86
  • Actual Annual Gross Rent: $112,051.92
  • Actual Gross Annual Income: $112,052
  • Actual Rent Total: $9,337.66
  • Owner Pays: Water, Gardener, Other
  • Total Annual Expense: 52483.68
Land / Lot Info
Land / Lot Info
  • Additional Parcel Number: Yes
  • Alley: No
  • Lot Acreage: 0.143
  • Lot Size Square Feet: 6228
  • Lot Features: Front Yard
  • Lot Description: Front Yard, Automatic Gate
Parking Details
Parking Details
  • Parking Garage: Gated, Private
  • Total Parking: 6
  • Open Other Spaces Total: 6
  • Parking Features: Gated, Private
Interior Features
Interior Features
  • Levels: Two
  • Cooling: Central Air
  • Cooling Type: Central
  • Heating: Central
  • Heating Type: Central
  • Equipment: Range/Oven, Refrigerator, Ceiling Fan, Dishwasher, Washer, Dryer
  • Interior Features: Ceiling Fan(s)
  • Laundry: In Unit
Exterior Features
Exterior Features
  • Pool: No
  • Private Pool: No
  • Pool Description: None
  • Pool Features: None
  • Spa: No
  • Spa: None
  • Tennis: No
  • Tennis Court: None
  • Roof: Flat
  • New Construction: No
  • Other Structural Features: Balcony
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 05-14-2024
  • Tenant Pays: Electricity, Cable TV, Gas, Air Cond/Heat Maint
Unit Details
Unit 1 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $3,275.00
  • Unit Actual Rent: $3,275.00
  • Unit Projected Rent: $3,300.00
  • Like Units: 1
Unit 2 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,500.00
  • Unit Actual Rent: $2,500.00
  • Unit Projected Rent: $2,800.00
  • Like Units: 1
Unit 3 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,154.70
  • Unit Actual Rent: $1,154.50
  • Unit Projected Rent: $2,500.00
  • Like Units: 1
Unit 4 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,063.00
  • Unit Actual Rent: $1,063.00
  • Unit Projected Rent: $2,300.00
  • Like Units: 1
Unit 5 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,345.00
  • Unit Actual Rent: $1,345.00
  • Unit Projected Rent: $2,300.00
  • Like Units: 1
Unit Details
  • Unit Type Type: 2106, 2107, 2108, 2109, 2110
  • Number of Electric Meters: 5
  • Number Leased: 5
  • Number Range: 5
  • Number Refrigerator: 5
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $675,448.00
  • Assessed Improvement Percent: 42.97
  • Assessed Land Value: $896,505.00
  • Assessed Land Percent: 57.03
  • Assessed Total Value: $1,571,953.00

Property History for 7401 Fountain Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 7401 Fountain Avenue

Taxable ValueLand$896,505Additions$676,128Total$1,572,633
Tax Record2023$19,940 ($1,662 / month)
Home Facts
Total Finished SqFt6,040 SqFtAbove Grade Finished SqFt6,040 SqFtLot Size6,226 SqFtStyleMulti-Family Res (5+ Units)Year Built1920ZoningLAR3CountyLOS ANGELESAPN5550-023-008

Schools near 7401 Fountain Avenue

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Public - 7 to 12
Rating
School
Distance
Gardner Street Elementary School
PublicK to 5

Hubert Howe Bancroft Middle School
Public6 to 8

Fairfax Senior High School
Public9 to 12

West Hollywood Opportunity School
Public7 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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7401 Fountain Avenue is a multi-family home for sale in Los Angeles, CA 90046. This property was listed for sale on May 13, 2024 by Compass, it's currently listed at $2,449,999. This listing's school district is Los Angeles Unified School District. Nearby schools include Gardner Street Elementary School, Hubert Howe Bancroft Middle School and Fairfax Senior High School. 7401 Fountain Avenue is a 8-bed, 5-bath, 6,040 sqft multi-family home built in 1920.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Compass, Sebastian Wolski, DRE #01947480

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.