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7011 Fountain Ave, Los Angeles, CA 90028
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7011 Fountain Ave Los Angeles, CA 90028

$1,965,000 Sold Price as of 10/22/2021
  • 3 Beds
  • 3 Baths
  • 3,319 Sq.Ft.
Sold
$1,965,000 Sold Price as of 10/22/2021 Refinance Your Mortgage
Map preview of 7011 Fountain Ave, Los Angeles, CA 90028

Property Overview: 7011 Fountain Ave Los Angeles, CA has 3 bedrooms, 3 bathrooms, 3,319 living square feet and 5,731 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: 7011 Fountain Ave is comprised of 6, 1bd/1ba units in prime Hollywood. Three of six units have been renovated in this 100% occupied charming character property. In addition to the interior renovations, Seller invested approximately $200k in capital improvements including foundation replacement, main sewer line upgrade and outdoor renovations with storm drain and concrete paving. 7011 Fountain Ave is close to major employers in Hollywood and a short drive away from trendy bars and restaurants.

Listed by Zachary Freehling | BRE #01879326 | Skylight Real Estate Advisors, Inc.
Last checked: 16 minutes ago | Last updated: November 17th, 2023 | Source CRMLS | DOM: 42

Home details

Lot Sq. Ft
5,731
HOA Dues
$0/mo
Year built
1923
Garage
--
Property Type:
Multi Family
Status
Sold
MLS#
21782538
City
Los Angeles
County
Los Angeles
Time on Site
973 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 6
  • Total # of Buildings: 3
Unit Breakdown 1
  • # of Units: 3
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,738
  • Total Rent: $10,429
  • Pro Forma/Market Rent: $12,600
Multi-Family Income/Expense Information
Property Income and Analysis
  • Gross Rent Multiplier: 15.58
  • Gross Scheduled Income: --
  • Net Operating Income: $82,882
  • Gross Operating Income: $121,390
Annual Expense Breakdown
  • Total Operating Expense: --

Property Details for 7011 Fountain Ave

Interior Features
Heating Information
  • Has Heating
  • Central
Laundry Information
  • Has Laundry
  • Washer Included
Kitchen Information
  • Has Appliances
  • Dishwasher, Microwave
Interior Features
  • Ceiling Fan(s)
Lot Details / Garage and Parking
Parking/Garage Information
  • No
  • Parking Features: None
Property Information
  • Total # of Units: 6
  • Parcel Number: 5548023015
Location / Neighborhood
Location Information
  • Directions: Located on Fountain Ave just east of N La Brea Ave
View more facts & features

Local Los Angeles Agent

Sale History for 7011 Fountain Ave

Last leased for $2,100 on November 15th, 2023

  • November, 2023

  • Nov 15, 2023

    Date

    Leased

    CRMLS: OC23188196

    $2,100

    Price

  • Oct 10, 2023

    Date

    Active

    CRMLS: OC23188196

    $2,100

    Price

  • Listing provided courtesy of CRMLS

    Welcome to Dim Sum Bungalows, a tranquil 6-unit apartment building. As you step inside, this one-bedroom, one-bathroom apartment, you'll be greeted by a warm and inviting living room with large windows that flood the space with natural light creating a bright and airy atmosphere. New vinyl flooring, new ceiling fans with light, and an a/c window unit for comfort for all those hot summer days in So Cal. The living room seamlessly connects to the kitchen which features a gas stove, stainless steel dishwasher and refrigerator, dining area nook, and a new interior stackable washer and dryer. Adjacent to the living area, you'll find the one bedroom suited for a queen-sized bed. The bathroom features a bathtub/shower combination, a complete vanity, a sink, and a toilet. This one-bedroom bungalow apartment provides a peaceful retreat while still being within walking distance to Ralphs supermarket, restaurants, shopping, and attractions like Ovation Hollywood, Chinese Theatre, The Hollywood Walk of Fame, and much much more!

  • June, 2023

  • Jun 28, 2023

    Date

    Leased

    CRMLS: OC23110920

    $2,100

    Price

  • Jun 22, 2023

    Date

    Active

    CRMLS: OC23110920

    $2,100

    Price

  • Listing provided courtesy of CRMLS

    Welcome to Dim Sum Bungalows, a tranquil 6 unit apartment building. As you step inside, this one bedroom, one bathroom apartment, you'll be greeted by a warm and inviting living room which features large windows that flood the space with natural light creating a bright and airy atmosphere. New vinyl flooring, new ceiling fans with light and a a/c window unit for comfort for all those hot summer days in So Cal. The living room seamlessly connects to the kitchen which features a gas stove, stainless steel dishwasher and refrigerator, dining area nook and a new interior stackable washer and dryer. Adjacent to the living area, you'll find the one bedroom suited for a queen-sized bed. The bathroom features a bathtub/shower combination, a complete vanity with a sink, and a toilet. This one bedroom bungalow apartment provides a peaceful retreat while still being within walking distance to Ralphs supermarket, restaurants, shopping and attractions like Ovation Hollywood, Chinese Theatre, The Hollywood Walk of Fame and much much more!

  • September, 2021

  • Sep 10, 2021

    Date

    Active

    CRMLS: 21782538

    $1,950,000

    Price

  • June, 2021

  • Jun 28, 2021

    Date

    Expired

    CRMLS: 21675048

    $1,849,500

    Price

  • May 6, 2021

    Date

    Withdrawn

    CRMLS: 21675048

    $1,849,500

    Price

  • Apr 16, 2021

    Date

    Price Change

    CRMLS: 21675048

    $1,849,500

    Price

  • Mar 4, 2021

    Date

    Price Change

    CRMLS: 21675048

    $1,895,000

    Price

  • Mar 3, 2021

    Date

    Hold

    CRMLS: 21675048

    $1,995,000

    Price

  • Feb 8, 2021

    Date

    Price Change

    CRMLS: 21675048

    $1,995,000

    Price

  • Jan 4, 2021

    Date

    Active

    CRMLS: 21675048

    $2,049,000

    Price

  • Listing provided courtesy of CRMLS

    We just got a Huge Price Reduction on this Gorgeous 6 unit bungalow. It comes to life when you step inside with a lovely courtyard entry featuring all 1BR/1BA units. 1 unit can possible be delivered vacant. Location is the key here. It is around the corner from the LA Academy of Dramatic Arts and walking distance to Hollywood & Highland, Roosevelt Hotel and West Hollywood Gateway Mall. There are solid in-place rents and stable expenses for good cash flow. The building has been significantly improved with new foundation, new concrete courtyard/patio, partial new roof and re-lined sewer. 5 of the 6 units have been re-habbed and feature updated kitchens and baths with new cabinets & countertops, tile floors, new fixtures and some with washer/dryers. Three of the units have reserved parking across the street and all have front and rear entries.

  • June, 2016

  • Jun 17, 2016

    Date

    Sold (Public Records)

    Public Records

    $1,425,000

    Price

  • June, 2016

  • Jun 6, 2016

    Date

    Sold

    CRMLS: 16119836

    $1,425,000

    Price

  • Apr 27, 2016

    Date

    Active

    CRMLS: 16119836

    $1,450,000

    Price

  • Listing provided courtesy of CRMLS

    CAP RATE 5.4%. GRM RATE 13.91. LAR3 Zoning (zoned for 7 units). Gated Entry. Laundry hookups in every unit. Beautiful 6 units. Excellent tenants. Low vacancy rate. All units are Separate Bungalows (no shared walls). Very well maintained. No deferred maintenance. Building had MANY improvements. Need to see to appreciate. Do not miss this opportunity. Unit1)$1,287.50/month. Unit2)$2,100/m - Washer and dryer inside the unit. Unit3)$1,236/m - Washer/dryer hook-up in the unit. Unit4)$1,261.75 - Washer/dryer hook-up in the unit. Unit5)$702.72 - Washer/dryer hook-up in the unit. Unit6)Under Construction. Will be completed by May 11. Can be delivered either vacant, or rented for $2,100/m. Washer and dryer inside the unit

  • April, 2016

  • Apr 25, 2016

    Date

    Price Change

    CRMLS: 16102144

    $2,100

    Price

  • Apr 13, 2016

    Date

    Price Change

    CRMLS: 16102144

    $2,150

    Price

  • Mar 2, 2016

    Date

    Price Change

    CRMLS: 16102144

    $2,100

    Price

  • Listing provided courtesy of CRMLS

    Brand new remodeled unit. Need to see to appreciate! Washer/Dryer Inside the unit. Quite community.

  • December, 2015

  • Dec 11, 2015

    Date

    Sold (Public Records)

    Public Records

    $1,236,000

    Price

Show More

Tax History for 7011 Fountain Ave

Assessed Value (2020): $1,542,462
Year Land Value Improved Value Assessed Value
2020 $1,079,183 $463,279 $1,542,462

Home Value Compared to the Market

This property vs the competition

7011 Fountain Ave sold on October 22, 2021 for 63.87% 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 $587.53 per/sqft which puts the price per square foot 22.18% lower than the current median sale per square foot for the city of Los Angeles.

About 7011 Fountain Ave

Detailed summary of property

7011 Fountain Ave is a multi family that recently sold in Los Angeles, CA 90028. This multi family property offered 3 bedrooms, 3 bathrooms, roughly 3,319 living square feet, and sits on an approximately 5,731 square foot lot. 7011 Fountain Ave was first listed on ArdentRealEstateGroup.com on September 10, 2021. The homeowner sold the property for $1,965,000. 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 63.87% higher than the current median priced home. Local homes that are currently for sale include 823 N Ogden Dr, 5918 Barton Ave and 1140 N Beachwood Dr. While the average home in Los Angeles, CA is selling in 93 days, 7011 Fountain Ave has a days on market of 42 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 7011 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 7011 Fountain Ave

Public county record property details
Beds
6
Baths
6
Year built
1923
Sq. Ft.
3,319
Lot Size
5,730
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
37,38
APN
5548-023-015

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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(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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