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 (with one unit as Section 8) alongside a single-family home, which is currently configured as a one-bedroom, one-bathroom residence (previously… Read More 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. Read Less
Listing Snapshot
Days Online
266
Last Updated
Property Type
Other
Beds
8
Square Ft.
6,040
Lot Size
0.14 Acres
Year Built
1920
MLS Number
24391369
30 Days Snapshot Of 90046
$2,298k
0%
(avg) sold price
13
-40%
homes sold
126
+53%
(avg) days on market
Snapshot
Area Map
Additional Details
Appliances & Equipment
Dishwasher, Refrigerator, Dryer, Washer
Building
Built in 1920, Building area total: 6,040, Levels: Two, Living area: 6040, 2 stories, 2 buildings, Architectural style: Spanish
Community
Gated
Cooling
CentralAir
Expenses
Electric expense: $750, Gardener expense: $2,199, Insurance expense: $5,004, Maintenance expense: $3,416, New taxes expense: $27,368, Trash expense: $1,152, Water sewer expense: $2,400
Heating
Central
Income
Gross income: $113,853, Net operating income: $65,013
Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
Confirm your time
Fill in your details and we will contact you to confirm a time.
