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5740 Fountain Ave, Los Angeles, CA 90028
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5740 Fountain Ave Los Angeles, CA 90028

$1,850,000 Sold Price as of 05/15/2023
  • 8 Beds
  • 8 Baths
  • 4,992 Sq.Ft.
Sold
$1,850,000 Sold Price as of 05/15/2023 Refinance Your Mortgage
Map preview of 5740 Fountain Ave, Los Angeles, CA 90028

Property Overview: 5740 Fountain Ave Los Angeles, CA has 8 bedrooms, 8 bathrooms, 4,992 living square feet and 11,313 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: Unleash the potential with this unique 8-unit bungalow-style property. With 4 units currently vacant, you have the perfect canvas to create the investment property of your dreams. Despite needing renovations, this property offers a significant opportunity to increase its value and generate steady rental income from day 1. Poised for growth and waiting for the right investor to bring it to life. Don't miss out on this fantastic opportunity to secure your financial future!" The property comprises of 4 detached structures, each with 2 units, this property offers ample space and versatility. Currently trading at an in-place 4.5% cap rate and a 14 GRM, this investment is sure to generate a solid return on your investment.... Seller has concept to add 4 additional units, ask agent for more info.

Listed by Adam Kanizo | BRE #02008361 | Paloma Realty Partners, Inc.
Last checked: 14 minutes ago | Last updated: March 15th, 2024 | Source CRMLS | DOM: 34

Home details

Lot Sq. Ft
11,313
HOA Dues
$0/mo
Year built
1923
Garage
--
Property Type:
Multi Family
Status
Sold
MLS#
23239469
City
Los Angeles
County
Los Angeles
Time on Site
459 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 8
  • Total # of Buildings: 4
Unit Breakdown 1
  • # of Units: 8
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,063
  • Total Rent: $12,826
  • Pro Forma/Market Rent: $17,200
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 4.5%
  • Gross Rent Multiplier: 14.29
  • Gross Scheduled Income: --
  • Net Operating Income: $100,746
  • Gross Operating Income: $146,216
Annual Expense Breakdown
  • Total Operating Expense: --

Property Details for 5740 Fountain Ave

Interior Features
Cooling Information
  • No Cooling
  • None
Heating Information
  • Has Heating
  • Wall Furnace
Kitchen Information
  • Has Appliances
Lot Details / Garage and Parking
Parking/Garage Information
  • Has Parking
  • Parking Features: Assigned, Driveway
Property Information
  • Total # of Units: 8
  • Parcel Number: 5536001003
  • Architectural Style: Bungalow
  • Property Condition: Fixer
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Assessment Information
  • No Assessments
Location / Neighborhood
Location Information
  • Directions: Santa Monica Blvd and N Van Ness Ave.
View more facts & features

Local Los Angeles Agent

Sale History for 5740 Fountain Ave

Last sold for $1,850,000 on May 15th, 2023

  • May, 2023

  • May 15, 2023

    Date

    Sold

    CRMLS: 23239469

    $1,850,000

    Price

  • Feb 7, 2023

    Date

    Active

    CRMLS: 23239469

    $2,200,000

    Price

  • July, 2022

  • Jul 30, 2022

    Date

    Expired

    CRMLS: 21110363

    $2,100,000

    Price

  • Dec 6, 2021

    Date

    Active

    CRMLS: 21110363

    $2,100,000

    Price

  • Listing provided courtesy of CRMLS

    Value add investors look no further, 5740-5746 Fountain Ave is an 8 unit apartment complex comprised of 4 buildings totaling 4992 sqft on a 6708 sqft lot located in the heart of Hollywood. The property features 8 units, all of which are one-bedroom/one-bathroom layouts. The property also comes with 6 parking spots and with plenty of street parking available. The in-place rental income is roughly 60% below market rate and provides the opportunity to increase the NOI by nearly 47%. Buyers and Buyers agent should verify all information provided, any reliance on this information is solely at your own risk.

  • October, 2021

  • Oct 29, 2021

    Date

    Sold

    CRMLS: SR21137584

    $1,330,000

    Price

  • Sep 10, 2021

    Date

    Hold

    CRMLS: SR21137584

    $1,750,000

    Price

  • Sep 10, 2021

    Date

    Active

    CRMLS: SR21137584

    $1,750,000

    Price

  • Sep 9, 2021

    Date

    Hold

    CRMLS: SR21137584

    $1,750,000

    Price

  • Jul 26, 2021

    Date

    Pending

    CRMLS: SR21137584

    $1,750,000

    Price

  • Jul 7, 2021

    Date

    Hold

    CRMLS: SR21137584

    $1,750,000

    Price

  • Jun 24, 2021

    Date

    Active

    CRMLS: SR21137584

    $1,750,000

    Price

  • Listing provided courtesy of CRMLS

    Eight unit apartment centrally located in prime Hollywood location. Adjacent fourplex next door at 5734 Fountain Ave. also for available for sale for $1,095,000. Entire Trust portfolio of six buildings for sale for $12,820,000 consisting of 1000 & 1006 Croft, 5734 & 5740 Fountain, 1236 S. Cloverdale and 1201 S. La Cienega. Buyer to cooperate in a 1031 tax exchange.

Show More

Tax History for 5740 Fountain Ave

Assessed Value (2020): $1,570,587
Year Land Value Improved Value Assessed Value
2020 $933,863 $636,724 $1,570,587

Home Value Compared to the Market

This property vs the competition

5740 Fountain Ave sold on May 15, 2023 for 67.65% 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 $399.64 per/sqft which puts the price per square foot 47.07% lower than the current median sale per square foot for the city of Los Angeles.

About 5740 Fountain Ave

Detailed summary of property

5740 Fountain Ave is a multi family that recently sold in Los Angeles, CA 90028. This multi family property offered 8 bedrooms, 8 bathrooms, roughly 4,992 living square feet, and sits on an approximately 11,313 square foot lot. 5740 Fountain Ave was first listed on ArdentRealEstateGroup.com on February 8, 2023. The homeowner sold the property for $1,850,000. 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 67.65% higher than the current median priced home. Local homes that are currently for sale include 5918 Barton Ave, 1537 N Kingsley Dr and 800 N Hobart Blvd. While the average home in Los Angeles, CA is selling in 93 days, 5740 Fountain Ave has a days on market of 34 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 5740 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 5740 Fountain Ave

Public county record property details
Beds
8
Baths
8
Year built
1923
Sq. Ft.
4,992
Lot Size
11,174
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
64,65
APN
5536-001-003

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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Thinking of Selling?
Call, Text or Message
(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.

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