4563 Fountain Avenue

4563 Fountain Avenue

Los Angeles, CA 90029

$1,495,000
Price
8
Beds
8
Baths
5,624 Sq. Ft.
$266 / Sq. Ft.
5,624
Sq. Ft.
$266
per Sq. Ft.
a view of a street with cars
a front view of a building
a view of a white house with large trees and plants
a view of a white house with a yard and large tree
a view of a chairs and table in the patio
a view of a park with large trees
a view of a house with wooden fence
a view of street with parked cars
an aerial view of a city

Description

We are pleased to present a value-add 8-unit apartment building in the heart of East Hollywood, just blocks from Virgil Village, Silverlake, and close to Los Feliz and Hollywood. The subject property consists of eight one bedroom, one bath units of which two will be delivered vacant. This property comprises of two buildings totaling approximately 5,624 square feet on an approximately 6,970 square foot parcel of land zoned C4-1D. The lot is zoned C4-1D and is in Tier 3 of TOC (transit-oriented community)...We are pleased to present a value-add 8-unit apartment building in the heart of East Hollywood, just blocks from Virgil Village, Silverlake, and close to Los Feliz and Hollywood. The subject property consists of eight one bedroom, one bath units of which two will be delivered vacant. This property comprises of two buildings totaling approximately 5,624 square feet on an approximately 6,970 square foot parcel of land zoned C4-1D. The lot is zoned C4-1D and is in Tier 3 of TOC (transit-oriented community) allowing for the development of +/- 29 units using TOC, and potentially more units using ED1 as a 100% affordable project. Currently there is room for four car parking (two tandem spaces) and addition courtyard space. There is likely enough room on this site to build a detached ADU. Buyer to verify all development potential with their own architect. All development is subject to the Vermont/Western Station Neighborhood Area Plan. Seller and Broker make no representations as to developability of this property. At this time the building is master leased to APLA Health but will be delivered with no master lease in place. All of the leases are with Section 8 tenants and five of the six remaining tenants are paying significantly below market rents. There is immediate upside by increasing the current rents to 4% and filling two vacancies bringing you to an immediate 6.2% cap rate. After a 4% rent increase and filling two vacancies, there still remains an additional 36% upside in rents. The sale of the property is contingent upon approval of an early loan payoff by the state of California. East Hollywood borrows elements from neighbors Silverlake, Los Feliz, Echo Park, Larchmont Village and wraps them up in an attainably priced package. One notable architectural marvel, The Hollyhock House, was designed by Frank Lloyd Wright for oil heiress Alice Barnsdall, who also serves as the namesake for the structure's surrounding Art Park. With the neighborhood seemingly evolving by the day, East Hollywood's near 250-year history is just getting started. An equal mix of hyped hotspots attracting visitors far and wide and local institutions that have helped shape the neighborhood, East Hollywood is the place for those who want a neighborhood atmosphere with the big city at arms' length. Family-owned bars like Tiki-Ti and cornershop coffee house Cafecito Organico lend a more neighborly feel to East Hollywood, but the glitz and glimmer of L. A. is still ever-present in this historic neighborhood. Multi-cultural and family-oriented, East Hollywood is a great place to spend a year or a lifetime.
  1. Listed by Oron Maher • DRE #01299093 • Brokerage DRE #01299093 • Maher Commercial Realty

Property Details for 4563 Fountain Avenue

Zoning
C4-1D
Cross Streets
Fountain Ave. & Lyman Place
Parcel Number
5542012019
Total Units
8.0
Living Area
5624
Source Living Area
Other
Area
Los Feliz (637)
Vacancy Rate
25%

Location

Listing Courtesy of Maher Commercial Realty, Oron Maher, DRE #01299093
Add your commute
LISTING UPDATED: 04/02/2024 12:01 AM

Property Details for 4563 Fountain Avenue

StatusActive
MLS #24-372459
Days on Market37
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1923
Lot Size0.16 AC / 6,970 SF
CountyLos Angeles County

Location

Listing Courtesy of Maher Commercial Realty, Oron Maher, DRE #01299093
Add your commute

Building Information for 4563 Fountain Avenue

Stories2Residences-Year Built1923Building Size-Lot Size0.16 AC / 6,970 SF

Payment Calculator

$8,237 per month

30 year fixed, 7.25% Interest

Principal and Interest

$8,159

Property Taxes

$78

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 4563 Fountain Avenue

Community / Development
Community / Development
  • Number Of Units: 8
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 2
  • Number Of Buildings: 2
  • Type Of Units: 1Bed/1Bath
Contract Info
Contract Info
  • Disclosures: None
  • Listing Type: Exclusive Agency
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Scheduled
  • Gross Operating Income: $132,756
  • Net Operating Income: $92,930.00
  • Gross Income: $132,756
  • Cap Rate: 6.20%
  • Gross Rent Multiplier: $11.26
  • Total Annual Expense: 39826
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.1578
  • Lot Size Square Feet: 6970
  • Lot Size Dimensions: 55x125
  • Source Lot Size Dimensions: Vendor Enhanced
Parking Details
Parking Details
  • Parking Garage: Unassigned
  • Total Parking: 4
  • Parking Features: Unassigned
Interior Features
Interior Features
  • Levels: Two
  • Cooling: None
  • Cooling Type: None
  • Heating Type: Other
  • Equipment: None
Exterior Features
Exterior Features
  • Pool: No
  • Private Pool: No
  • Pool Description: None
  • Pool Features: None
  • Spa: No
  • Spa: None
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 03-25-2024
Unit Details
Unit 1 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $651.00
  • Unit Actual Rent: $651.00
  • Unit Projected Rent: $2,150.00
  • Like Units: 1
Unit 2 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $.00
  • Unit Actual Rent: $.00
  • Unit Projected Rent: $2,150.00
  • Like Units: 1
Unit 3 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,666.00
  • Unit Actual Rent: $1,666.00
  • Unit Projected Rent: $2,150.00
  • Like Units: 1
Unit 4 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,335.00
  • Unit Actual Rent: $1,335.00
  • Unit Projected Rent: $2,150.00
  • Like Units: 1
Unit 5 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,400.00
  • Unit Actual Rent: $1,400.00
  • Unit Projected Rent: $2,150.00
  • Like Units: 1
Unit 6 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $.00
  • Unit Actual Rent: $.00
  • Unit Projected Rent: $2,150.00
  • Like Units: 1
Unit 7 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $628.00
  • Unit Actual Rent: $628.00
  • Unit Projected Rent: $2,150.00
  • Like Units: 1
Unit 8 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $802.00
  • Unit Actual Rent: $802.00
  • Unit Projected Rent: $2,150.00
  • Like Units: 1
Unit Details
  • Unit Type Type: 2106, 2107, 2108, 2109, 2110, 2111, 2112, 2113
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $286,433.00
  • Assessed Improvement Percent: 35.97
  • Assessed Land Value: $509,896.00
  • Assessed Land Percent: 64.03
  • Assessed Total Value: $796,329.00

Property History for 4563 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 4563 Fountain Avenue

Taxable ValueLand$509,896Additions$286,433Total$796,329
Tax Record2023$934 ($78 / month)
Home Facts
Total Finished SqFt5,560 SqFtAbove Grade Finished SqFt5,560 SqFtLot Size6,872 SqFtStyleMulti-Family Res (5+ Units)Year Built1923ZoningLAC4CountyLOS ANGELESAPN5542-012-019

Schools near 4563 Fountain Avenue

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Los Feliz STEMM Magnet
Public - K to 5
Thomas Starr King Middle School
Public - 6 to 8
John Marshall Senior High School
Public - 9 to 12
South Shores/Csudh Visual And Performing Arts
Public - K to 5
Rating
School
Distance
Los Feliz STEMM Magnet
PublicK to 5

Thomas Starr King Middle School
Public6 to 8

John Marshall Senior High School
Public9 to 12

South Shores/Csudh Visual And Performing Arts
PublicK to 5

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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More information about 4563 Fountain Avenue, Los Angeles, CA 90029

4563 Fountain Avenue is a multi-family home for sale in Los Angeles, CA 90029. This property was listed for sale on March 25, 2024 by Maher Commercial Realty, it's currently listed at $1,495,000. This listing's school district is Los Angeles Unified School District. Nearby schools include Los Feliz STEMM Magnet, Thomas Starr King Middle School and John Marshall Senior High School. 4563 Fountain Avenue is a 8-bed, 8-bath, 5,624 sqft multi-family home built in 1923.

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 Maher Commercial Realty, Oron Maher, DRE #01299093

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.