7401 Fountain Avenue

Los Angeles, CA 90046

PRICE REDUCED

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-$70,999 (-2.90%)

$2,379,000

List Price

8

bed Beds

5

shower Baths

6,040 sqft

straighten / sqft

1920

calendar_month Built

Property 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 (with one unit as Section 8) 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 Information

List Price $2,379,000
Status Active
MLS 24391369
Type Residential Income
Year Built 1920
Lot Size 6,228
Structure Size 6,040
DOM 94
Courtesy Of Compass
Listing Agent Sebastian Wolski DRE#01947480

Interior Features

Total Bedroom
Bedrooms 8
Total Bathroom
Bathrooms 5
Additional Information
Additional Features Ceiling Fan(s)
Cooling Type
Cooling Type Central Air

Exterior Information

Maps

Listing information courtesy of: Sebastian Wolski, Compass . *Based on information from the Association of REALTORS/Multiple Listing as of Aug 15th, 2024 at 11:46 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. 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.