7550 Fountain Avenue

West Hollywood, CA 90046

$4,200,000
Price
14
Beds
14
Baths
8,390 Sq. Ft.
$501 / Sq. Ft.
8,390
Sq. Ft.
$501
per Sq. Ft.

Description

This exceptional investment opportunity is situated in the prime location of West Hollywood. The building comprises four spacious 2-bedroom, 2-bathroom units and six 1-bedroom, 1-bathroom units. Currently generating an annual income of $261,042, this property holds substantial income potential. There is immediate income upside with one recently updated 2-bedroom, 2-bathroom unit vacant on the upper floor, which can conservatively be projected to rent at $2,985 per month. Additionally, one 1-bedroom...This exceptional investment opportunity is situated in the prime location of West Hollywood. The building comprises four spacious 2-bedroom, 2-bathroom units and six 1-bedroom, 1-bathroom units. Currently generating an annual income of $261,042, this property holds substantial income potential. There is immediate income upside with one recently updated 2-bedroom, 2-bathroom unit vacant on the upper floor, which can conservatively be projected to rent at $2,985 per month. Additionally, one 1-bedroom and 1-bathroom unit on the ground floor is currently vacant, with a projected monthly rental income of $2,200 per month. Located just moments away from the vibrant Sunset Strip, the coveted Norma Triangle neighborhood, the bustling Melrose shopping district, and the iconic Hollywood Walk of Fame, this property offers not only an attractive investment but also the allure of the West Hollywood lifestyle. Don't miss out on this outstanding investment opportunity!
  1. Listed by Yar Meshkaty • DRE #01060780 • Brokerage DRE #01464847 • Coldwell Banker Realty

Property Details for 7550 Fountain Avenue

Zoning
WDR2*
Parcel Number
5530005002
Total Units
10.0
Living Area
8390
Source Living Area
Vendor Enhanced
Area
West Hollywood Vicinity (C10)
Vacancy Rate
2
Lot Size Area
6853

Location

Listing Courtesy of Coldwell Banker Realty, Yar Meshkaty, DRE #01060780
Add your commute
LISTING UPDATED: 03/30/2024 07:42 AM

Property Details for 7550 Fountain Avenue

StatusActive
MLS #23-306965
Days on Market239
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1958
Lot Size0.16 AC / 6,853 SF
CountyLos Angeles County

Location

Listing Courtesy of Coldwell Banker Realty, Yar Meshkaty, DRE #01060780
Add your commute

Building Information for 7550 Fountain Avenue

Stories-Residences-Year Built1958Building Size-Lot Size0.16 AC / 6,853 SF

Payment Calculator

$22,921 per month

30 year fixed, 7.25% Interest

Principal and Interest

$22,921

Property Taxes

—

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 7550 Fountain Avenue

Community / Development
Community / Development
  • Number Of Units: 10
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 0
  • Number Of Buildings: 1
  • Type Of Units: Apartment
Contract Info
Contract Info
  • Disclosures: As Is
  • Listing Type: Exclusive Right To Sell
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $253,211
  • Net Operating Income: $205,078.00
  • Gross Income: $261,042
  • Gross Rent Multiplier: $16.00
  • Total Annual Expense: 48133
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.1573
  • Lot Size Square Feet: 6853
Parking Details
Parking Details
  • Parking Garage: Assigned, Covered Parking
  • Total Parking: 7
  • Covered Parking: 7
  • Parking Features: Assigned, Covered
Interior Features
Interior Features
  • Levels: Multi/Split
  • Cooling: Wall/Window Unit(s)
  • Cooling Type: Ceiling Fan, Wall/Window
  • Heating: Wall Furnace
  • Heating Type: Wall, Other
  • Equipment: Garbage Disposal, Freezer, Ceiling Fan, Dishwasher, Refrigerator, Range/Oven
  • Interior Features: Ceiling Fan(s)
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 09-01-2023
Unit Details
Unit 1 Information
  • Unit Beds: 2
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $2,335.00
  • Unit Actual Rent: $9,341.00
  • Unit Projected Rent: $11,940.00
  • Like Units: 4
Unit 2 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,792.00
  • Unit Actual Rent: $10,754.00
  • Unit Projected Rent: $13,200.00
  • Like Units: 6
Unit Details
  • Unit Type Type: 2106, 2107
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $2,680,504.00
  • Assessed Improvement Percent: 79.74
  • Assessed Land Value: $680,847.00
  • Assessed Land Percent: 20.26
  • Assessed Total Value: $3,361,351.00

Property History for 7550 Fountain Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Schools near 7550 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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7550 Fountain Avenue is a multi-family home for sale in West Hollywood, CA 90046. This property was listed for sale on September 1, 2023 by Coldwell Banker Realty, it's currently listed at $4,200,000. 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. 7550 Fountain Avenue is a 14-bed, 14-bath, 8,390 sqft multi-family home built in 1958.

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 Coldwell Banker Realty, Yar Meshkaty, DRE #01060780

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.