7550 Fountain Ave #10 West Hollywood, CA 90046

$3,135,000 Sold Price as of 03/30/2018

14 Beds
14 Baths
8,390 Sq.Ft.

Off Market

$3,135,000 Sold Price as of 03/30/2018 Refinance Your Mortgage

Map preview of 7550 Fountain Ave #10, West Hollywood, CA 90046

Property Overview: 7550 Fountain Ave #10 West Hollywood, CA has 14 bedrooms, 14 bathrooms, 8,390 living square feet and 6,853 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Home Value Compared to the Market

7550 Fountain Ave #10 is currently an off market home in the city of West Hollywood. If you are considering making a home purchase, the value you pay for your home will depend on the market you're looking to purchase in. The city of West Hollywood has a median list price of $1,288,000. The median price per/sqft for West Hollywood is $945. With those numbers in mind, if you are looking to purchase a median priced home in West Hollywood, CA and put 20% down you will need to save up $257,600 for the down payment and will need roughly $25,760 for closing costs on top of the down payment. Homeowners who are looking to sell their home could expect to pay an average of 5% (2.5% to the listing agent and 2.5% to the buyers agent) in agent commissions when it comes to selling their home. With the median sale price for a home in West Hollywood the commission could be as much as $48,000. If you're thinking of selling and want to save, contact a local Ardent Real Estate Agent today.

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Sale History for 7550 Fountain Ave #10

Last sold for $3,135,000 on March 30th, 2018

April, 2024
Apr 30, 2024

Date

Expired

CRMLS: 23306965

$4,200,000

Price
Sep 1, 2023

Date

Active

CRMLS: 23306965

$4,200,000

Price
Listing provided courtesy of CRMLS

This exceptional investment opportunity is situated in the prime location of West Hollywood. The building comprises four spacious 2-bedroom, 2-bathroom units and six 1-bedroom, 1-bathroom units. Currently generating an annual income of $261,042, this property holds substantial income potential. There is immediate income upside with one recently updated 2-bedroom, 2-bathroom unit vacant on the upper floor, which can conservatively be projected to rent at $2,985 per month. Additionally, one 1-bedroom and 1-bathroom unit on the ground floor is currently vacant, with a projected monthly rental income of $2,200 per month. Located just moments away from the vibrant Sunset Strip, the coveted Norma Triangle neighborhood, the bustling Melrose shopping district, and the iconic Hollywood Walk of Fame, this property offers not only an attractive investment but also the allure of the West Hollywood lifestyle. Don't miss out on this outstanding investment opportunity!

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June, 2022
Jun 11, 2022

Date

Expired

CRMLS: 21111713

$3,950,000

Price
Dec 10, 2021

Date

Active

CRMLS: 21111713

$3,950,000

Price
Listing provided courtesy of CRMLS

Significant upside in rents. One 2 BR/2 BA unit is vacant. Buyer has the opportunity to renovate the unit and obtain a higher rent. Priced at 12.2 x gross and 6% Cap with rents at market.

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March, 2018
Mar 30, 2018

Date

Sold

CRMLS: 17290194

$3,135,000

Price
Feb 28, 2018

Date

Pending

CRMLS: 17290194

$3,500,000

Price
Feb 5, 2018

Date

Active Under Contract

CRMLS: 17290194

$3,500,000

Price
Jan 23, 2018

Date

Active

CRMLS: 17290194

$3,500,000

Price
Dec 21, 2017

Date

Active Under Contract

CRMLS: 17290194

$3,500,000

Price
Nov 17, 2017

Date

Active

CRMLS: 17290194

$3,500,000

Price
Listing provided courtesy of CRMLS

Huge potential to upgrade units and reap the benefits! Built in 1958, this low-rise 10-unit apartment building located in West Hollywood offers 8,390 SF situated on a 6,853 SF lot with (4) 2 bed/2 bath units and (6) 1 bed/1 bath units. Building amenities include a gated entrance and parking garage with 7 designated spaces, 6 extra storage units, on-site laundry and rear yard. One unit that has been beautifully renovated with bright white kitchen cabinets, stainless steel appliances, recessed lighting, new bathrooms and wood floors. Other apartments range from original to partially updated. Rare opportunity to acquire a multi-family building close to the prime Melrose shopping district and situated between the popular nightlife of Hollywood and Sunset Blvd.

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March, 2018
Mar 30, 2018

Date

Sold (Public Records)

Public Records

$3,135,000

Price
October, 2004
Oct 29, 2004

Date

Sold (Public Records)

Public Records

--

Price

Tax History for 7550 Fountain Ave #10

Assessed Value (2020): $3,263,574

Year	Land Value	Improved Value	Assessed Value
2020	$660,654	$2,602,920	$3,263,574

About 7550 Fountain Ave #10

Detailed summary of property

7550 Fountain Ave #10 is categorized with a use code of Apartment House (5+ Units) in West Hollywood, CA 90046 and last sold on March 30, 2018 for $3,135,000. This property has 14 bedrooms, 14 bathrooms, roughly 8,390 living square feet, and sits on an approximately 6,853 square foot lot. Homes in West Hollywood are selling for a median price of $960,000 and a median price per square foot of $797. Based on Ardent Real Estate Group's West Hollywood Market Data, this home is sold 226.56% higher than the current median priced home. 7550 Fountain Ave #10 was last sold on March 30, 2018 for $3,135,000. Local nearby listings include 1400 N Fuller Ave #19, 1400 N Fuller Ave #19 and 7560 Hollywood Blvd #403. The average home in West Hollywood, CA is selling in 143 days. There are currently 242 homes for sale in the West Hollywood real estate market and 54 of them are single family homes while 174 of them are condos and 14 are townhomes. If you are the homeowner and looking to sell the home at 7550 Fountain Ave #10 West Hollywood, CA 90046 contact Ardent Real Estate Group and we will put you in touch with one of our West Hollywood agents.

Public Facts for 7550 Fountain Ave #10

Public county record property details

Beds: 14
Baths: 14
Year built: 1958
Sq. Ft.: 8,390
Lot Size: 6,853
Stories: --

Type: Apartment House (5+ Units)
Pool: No
Spa: No
County: Los Angeles
Lot#: 13
APN: 5530-005-002

The source for these homes facts are from public records.

90046 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends

Median List Price

$2,085,000

Median List Price/Sq.Ft.

$900

Median Sold Price

$1,188,800

Median Sold Price/Sq.Ft.

$773

Total Inventory

279

Median Sale to List Price %

95.1%

Avg Days on Market

Loan Type

Conventional (5.56%), FHA (0%), VA (0%), Cash (8.33%), Other (2.78%)

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