5663 Fountain Ave, Los Angeles, CA 90028

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5663 Fountain Ave Los Angeles, CA 90028

$2,880,000 Sold Price as of 07/08/2022

20 Beds
8 Baths
6,462 Sq.Ft.

Sold

$2,880,000 Sold Price as of 07/08/2022 Refinance Your Mortgage

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Map preview of 5663 Fountain Ave, Los Angeles, CA 90028

Property Overview: 5663 Fountain Ave Los Angeles, CA has 20 bedrooms, 8 bathrooms, 6,462 living square feet and 7,510 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: I am pleased to present for sale 5663 Fountain Avenue, an 8-unit apartment building, located in the heart of Los Angeles' Hollywood neighborhood. As one of Los Angeles' densely populated neighborhoods, this submarket's popularity has grown significantly over the recent years, with vibrant and lively nightlife scene and trendy retail and coffee shops in the immediate area. With new ground-up development in the immediate gentrifying area, the location has been catering to families, young professionals and hipsters alike in recent years. The location of the asset is also considered a "Walkers Paradise" with an 85 Walk Score and situated a short distance from highly desirable dining and entertainment options. 5663 Fountain Avenue currently consists of eight (8) two-bedroom units with permitted plans to convert into four (4) two-bedroom units and four (4) permitted three-bedroom units and is conveniently separately metered for gas and electric. With six out of eight units being delivered vacant, new ownership will have the opportunity to renovate and achieve additional rental premiums immediately. The subject property allows an investor to acquire a well-located apartment asset with the unique ability to immediately renovate and re-tenant the property. Income and Expenses are based entirely off projections and do not represent the current performance of the property. 3B/1B Units are Permitted. Currently Operating as 2B/1B.

Listed by Sean Rosenzweig | BRE #01406343 | Marcus & Millichap

Last checked: 8 minutes ago | Last updated: September 26th, 2023 | Source CRMLS | DOM: 38

Home details

Lot Sq. Ft: 7,510
HOA Dues: $0/mo
Year built: 1956
Garage: --
Property Type:: Multi Family

Status: Sold
MLS#: 22140121
City: Los Angeles
County: Los Angeles
Time on Site: 775 days

Multi-Family Unit Breakdown

Unit Mix Summary

Total # of Units: 8
Total # of Buildings: 1

Unit Breakdown 1

# of Units: 1
# of Beds: 2
# of Baths: 1
Furnishing: Unfurnished
Total Rent: $0
Pro Forma/Market Rent: $2,500

Unit Breakdown 2

# of Units: 1
# of Beds: 3
# of Baths: 1
Furnishing: Unfurnished
Total Rent: $0
Pro Forma/Market Rent: $3,000

Unit Breakdown 3

# of Units: 1
# of Beds: 2
# of Baths: 1
Furnishing: Unfurnished
Total Rent: $0
Pro Forma/Market Rent: $2,500

Unit Breakdown 4

# of Units: 1
# of Beds: 3
# of Baths: 1
Furnishing: Unfurnished
Total Rent: $0
Pro Forma/Market Rent: $3,000

Unit Breakdown 5

# of Units: 1
# of Beds: 2
# of Baths: 1
Furnishing: Unfurnished
Actual Rent: $1,206
Total Rent: $1,206
Pro Forma/Market Rent: $2,500

Unit Breakdown 6

# of Units: 1
# of Beds: 3
# of Baths: 1
Furnishing: Unfurnished
Total Rent: $0
Pro Forma/Market Rent: $3,000

Unit Breakdown 7

# of Units: 1
# of Beds: 3
# of Baths: 1
Furnishing: Unfurnished
Total Rent: $0
Pro Forma/Market Rent: $3,000

Unit Breakdown 8

# of Units: 1
# of Beds: 2
# of Baths: 1
Furnishing: Unfurnished
Actual Rent: $1,115
Total Rent: $1,115
Pro Forma/Market Rent: $2,500

Multi-Family Income/Expense Information

Property Income and Analysis

Gross Rent Multiplier: 12.51
Gross Scheduled Income: --
Net Operating Income: $6
Gross Operating Income: $224,890

Annual Expense Breakdown

Total Operating Expense: --

Property Details for 5663 Fountain Ave

Lot Details / Garage and Parking

Parking/Garage Information

# of Parking Spaces: 6
Has Parking
Parking Features: Covered

Lot Information

Lot Size Source: Assessor

Property Information

Total # of Units: 8
Parcel Number: 5545020010

Location / Neighborhood

Location Information

Directions: South of Sunset Boulevard, North of Santa Monica Boulevard, West of Western Avenue

View more facts & features

Local Los Angeles Agent

Sale History for 5663 Fountain Ave

Last leased for $2,750 on September 1st, 2023

September, 2023
Sep 1, 2023

Date

Leased

CRMLS: P1-14148

$2,750

Price
Jun 28, 2023

Date

Active

CRMLS: P1-14148

$2,800

Price
Listing provided courtesy of CRMLS

Totally remodel condo in high demand of Hollywood for rent. The house has 2 beds and 1 den which can use as third bedroom. House include all appliances and has brand new kitchen, new bathroom, new a/c system, new window, new floor, new paint, new lighting, and new water heater. Electrical and plumbing have been upgraded. Brand new stove and refrigerator are included. Washer & dryer hookup in unit. One assigned parking. Convenient location close to FWY 101 and Santa Monica Blvd. Walking distance to bus stations and shops.

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July, 2022
Jul 8, 2022

Date

Sold

CRMLS: 22140121

$2,880,000

Price
Mar 25, 2022

Date

Active

CRMLS: 22140121

$2,900,000

Price
January, 2020
Jan 9, 2020

Date

Sold

CRMLS: 19513564

$2,000,000

Price
Nov 11, 2019

Date

Pending

CRMLS: 19513564

$2,095,000

Price
Oct 22, 2019

Date

Active Under Contract

CRMLS: 19513564

$2,095,000

Price
Oct 10, 2019

Date

Price Change

CRMLS: 19513564

$2,095,000

Price
Sep 23, 2019

Date

Active

CRMLS: 19513564

$2,195,000

Price
Listing provided courtesy of CRMLS

An exciting new offering is available at this just listed, 8-Unit building in the heart of Hollywood. Centrally located one block south of Sunset and less than a mile to the Metro Red Line. 5663 Fountain Avenue is a mid-century inspired, two-story building consisting of (8) large two-bedroom, one bath units and offering over 6,400 square feet of living space. The lot is zoned LAR3 and is situated on a 7,510 square foot lot.

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January, 2020
Jan 8, 2020

Date

Sold (Public Records)

Public Records

$2,000,000

Price
November, 2018
Nov 30, 2018

Date

Expired

CRMLS: 18347412

$2,399,000

Price
May 29, 2018

Date

Active

CRMLS: 18347412

$2,399,000

Price
Listing provided courtesy of CRMLS

Standard Sale. Great 8 unit income property in Hollywood with excellent value added opportunity. One block away from the DASH Hollywood Bus line and 0.7 miles from the Metro Red Line. Great price per unit for 8 x 2 bed 1 bath units in the area. Projected market rents can be higher once the property is enhanced. Separately metered for gas and electricity. One unit rehabbed and rented at $1,895 per month. Subject to City of Los Angeles Rent control ordinance. Sold AS IS and Where Is.

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March, 2014
Mar 26, 2014

Date

Sold (Public Records)

Public Records

$1,310,000

Price

Tax History for 5663 Fountain Ave

Assessed Value (2020): $1,468,506

Year	Land Value	Improved Value	Assessed Value
2020	$795,832	$672,674	$1,468,506

Home Value Compared to the Market

This property vs the competition

5663 Fountain Ave sold on July 8, 2022 for 143.7% higher than the current median sold price for the city of Los Angeles which is $1,190,000. The median sold price per/sqft for Los Angeles is $755 and this home is sold at $448.78 per/sqft which puts the price per square foot 40.56% lower than the current median sale per square foot for the city of Los Angeles.

About 5663 Fountain Ave

Detailed summary of property

5663 Fountain Ave is a multi family that recently sold in Los Angeles, CA 90028. This multi family property offered 20 bedrooms, 8 bathrooms, roughly 6,462 living square feet, and sits on an approximately 7,510 square foot lot. 5663 Fountain Ave was first listed on ArdentRealEstateGroup.com on March 25, 2022. The homeowner sold the property for $2,880,000. Home in Los Angeles are selling for a median price of $1,190,000 and a median price per square foot of $755. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is sold 143.7% higher than the current median priced home. Local homes that are currently for sale include 6040 Graciosa Dr, 6400 Dix St and 203 N Oxford Ave. While the average home in Los Angeles, CA is selling in 94 days, 5663 Fountain Ave has a days on market of 38 days. There are currently 3580 homes for sale in the Los Angeles real estate market and 2422 of them are single family homes while 1059 of them are condos and 93 are townhomes. For more information on this home for sale at 5663 Fountain Ave Los Angeles, CA 90028 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 5663 Fountain Ave

Public county record property details

Beds: 16
Baths: 8
Year built: 1956
Sq. Ft.: 6,462
Lot Size: 7,510
Stories: --

Type: Apartment House (5+ Units)
Pool: No
Spa: No
County: Los Angeles
Lot#: 28
APN: 5545-020-010

The source for these homes facts are from public records.

90028 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends

Median List Price

$1,195,000

Median List Price/Sq.Ft.

$690

Median Sold Price

$752,000

Median Sold Price/Sq.Ft.

$470

Total Inventory

Median Sale to List Price %

83.65%

Avg Days on Market

197

Loan Type

Conventional (0%), FHA (0%), VA (0%), Cash (0%), Other (100%)

Thinking of Selling?

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(714) 706-1823

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Based on information from California Regional Multiple Listing Service, Inc. as of 2019. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.