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5666 Fountain Ave, Los Angeles, CA 90028
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5666 Fountain Ave Los Angeles, CA 90028

$2,270,000 Sold Price as of 09/29/2023
  • 12 Beds
  • 8 Baths
  • 5,476 Sq.Ft.
Sold
$2,270,000 Sold Price as of 09/29/2023 Refinance Your Mortgage
Map preview of 5666 Fountain Ave, Los Angeles, CA 90028

Property Overview: 5666 Fountain Ave Los Angeles, CA has 12 bedrooms, 8 bathrooms, 5,476 living square feet and 7,500 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 5666 Fountain Avenue, an 8-unit apartment building, located in the heart of Los Angeles' Hollywood neighborhood. As one of Los Angeles' most densely populated neighborhoods, this submarket's popularity has grown significantly over recent years, with a 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 catering to families, young professionals and artists alike in recent years. The location of the asset is also considered "Very Walkable" with an 86 Walk Score and is situated a short distance from highly desirable dining and entertainment options.5666 Fountain Avenue currently consists of four one-bedroom units and four two-bedroom units. The property has Central AC/Heat and the roof was done in 2015. With all 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.

Listed by Sean Rosenzweig | BRE #01406343 | Marcus & Millichap
Co-listed by Christine Agopian | BRE #01978535 | Compass
Last checked: 3 minutes ago | Last updated: October 3rd, 2023 | Source CRMLS | DOM: 48

Home details

Lot Sq. Ft
7,500
HOA Dues
$0/mo
Year built
1955
Garage
--
Property Type:
Multi Family
Status
Sold
MLS#
23283179
City
Los Angeles
County
Los Angeles
Time on Site
324 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 8
  • Total # of Buildings: 1
Unit Breakdown 1
  • # of Units: 4
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Total Rent: $0
  • Pro Forma/Market Rent: $2,250
Unit Breakdown 2
  • # of Units: 4
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Total Rent: $0
  • Pro Forma/Market Rent: $2,700
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 5.76%
  • Gross Rent Multiplier: 11.99
  • Gross Scheduled Income: --
  • Net Operating Income: $164,284
  • Gross Operating Income: $231,432
Annual Expense Breakdown
  • Total Operating Expense: --

Property Details for 5666 Fountain Ave

Lot Details / Garage and Parking
Parking/Garage Information
  • # of Parking Spaces: 8
  • Has Parking
  • Parking Features: Uncovered
Lot Information
  • Lot Size Source: Assessor
Property Information
  • Total # of Units: 8
  • Parcel Number: 5536002022
  • Year Built Source: Assessor
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Location / Neighborhood
Location Information
  • Directions: North of Santa Monica Boulevard and West of Western Avenue.
View more facts & features

Local Los Angeles Agent

Sale History for 5666 Fountain Ave

Last sold for $2,270,000 on September 29th, 2023

  • September, 2023

  • Sep 29, 2023

    Date

    Sold

    CRMLS: 23283179

    $2,270,000

    Price

  • Jun 21, 2023

    Date

    Active

    CRMLS: 23283179

    $2,850,000

    Price

  • June, 2008

  • Jun 16, 2008

    Date

    Sold (Public Records)

    Public Records

    --

    Price

  • August, 1985

  • Aug 21, 1985

    Date

    Sold (Public Records)

    Public Records

    --

    Price

Show More

Tax History for 5666 Fountain Ave

Assessed Value (2020): $531,678
Year Land Value Improved Value Assessed Value
2020 $240,345 $291,333 $531,678

Home Value Compared to the Market

This property vs the competition

5666 Fountain Ave sold on September 29, 2023 for 139.5% 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 $520.45 per/sqft which puts the price per square foot 31.07% lower than the current median sale per square foot for the city of Los Angeles.

About 5666 Fountain Ave

Detailed summary of property

5666 Fountain Ave is a multi family that recently sold in Los Angeles, CA 90028. This multi family property offered 12 bedrooms, 8 bathrooms, roughly 5,476 living square feet, and sits on an approximately 7,500 square foot lot. 5666 Fountain Ave was first listed on ArdentRealEstateGroup.com on June 21, 2023. The homeowner sold the property for $2,270,000. 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 139.5% higher than the current median priced home. Local homes that are currently for sale include 867 N Alexandria Ave, 867 N Alexandria Ave and 6416 La Mirada Ave. While the average home in Los Angeles, CA is selling in 93 days, 5666 Fountain Ave has a days on market of 48 days. There are currently 3618 homes for sale in the Los Angeles real estate market and 2437 of them are single family homes while 1084 of them are condos and 92 are townhomes. For more information on this home for sale at 5666 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 5666 Fountain Ave

Public county record property details
Beds
12
Baths
8
Year built
1955
Sq. Ft.
5,476
Lot Size
7,499
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
5
APN
5536-002-022

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
34
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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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.

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