7661 Fountain Ave, Los Angeles, CA 90046

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7661 Fountain Ave Los Angeles, CA 90046

$2,050,000 Sold Price as of 12/29/2021

8 Beds
6 Baths
4,804 Sq.Ft.

Sold

$2,050,000 Sold Price as of 12/29/2021 Refinance Your Mortgage

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Map preview of 7661 Fountain Ave, Los Angeles, CA 90046

Property Overview: 7661 Fountain Ave Los Angeles, CA has 8 bedrooms, 6 bathrooms, 4,804 living square feet and 6,173 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: We are pleased to present 7661 Fountain Avenue, a 6-unit apartment building located just outside of West Hollywood, California. Situated on a 6,173 Sq Ft lot, the property consists of 4,804 SF, and features four (4) one bedroom / one bath and two (2) two bedrooms / two bath units. This property has gone through significant renovations by the current ownership, including two extensively renovated units which now boast stunning new floors, in-unit washers and dryers, modern faux fireplaces, stainless-steel appliances and more. In addition to the two renovated units, the exterior of the building was upgraded with new paint and a new electric gate, conveniently giving access to six (6) parking spaces for the tenants. Located within close proximity to world-famous shopping, dining, and entertainment venues, residents enjoy being within walking distance to everyday amenities while also having convenient access to the 101 Freeway. 7661 is the perfect opportunity for an investor looking to acquire a semi-stabilized investment property with future upside potential, which can be achieved through additional interior renovations.

Listed by Saadia 'Sam' Liberow | BRE #01933858 | Marcus & Millichap

Last checked: 16 minutes ago | Last updated: March 23rd, 2022 | Source CRMLS | DOM: 40

Home details

Lot Sq. Ft: 6,173
HOA Dues: $0/mo
Year built: 1955
Garage: --
Property Type:: Multi Family

Status: Sold
MLS#: 21101815
City: Los Angeles
County: Los Angeles
Time on Site: 918 days

Multi-Family Unit Breakdown

Unit Mix Summary

Total # of Units: 6
Total # of Buildings: 1

Unit Breakdown 1

# of Units: 4
# of Beds: 1
# of Baths: 1
Furnishing: Unfurnished
Actual Rent: $1,434
Total Rent: $5,736
Pro Forma/Market Rent: $8,800

Unit Breakdown 2

# of Units: 2
# of Beds: 2
# of Baths: 1
Furnishing: Unfurnished
Actual Rent: $2,850
Total Rent: $5,700
Pro Forma/Market Rent: $6,000

Multi-Family Income/Expense Information

Property Income and Analysis

Gross Rent Multiplier: 16.03
Gross Scheduled Income: --
Net Operating Income: $86,001
Gross Operating Income: $133,115

Annual Expense Breakdown

Total Operating Expense: --

Property Details for 7661 Fountain Ave

Interior Features

Heating Information

No Heating
None

Lot Details / Garage and Parking

Parking/Garage Information

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

Property Information

Total # of Units: 6
Parcel Number: 5550031015

Location / Neighborhood

Location Information

Directions: Near the cross streets of Spaulding and Fountain.

View more facts & features

Local Los Angeles Agent

Sale History for 7661 Fountain Ave

Last sold for $2,050,000 on December 29th, 2021

December, 2021
Dec 29, 2021

Date

Sold

CRMLS: 21101815

$2,050,000

Price
Nov 3, 2021

Date

Active

CRMLS: 21101815

$2,299,000

Price
October, 2021
Oct 9, 2021

Date

Canceled

CRMLS: 21726634

$2,300,000

Price
Jul 16, 2021

Date

Price Change

CRMLS: 21726634

$2,300,000

Price
Jul 1, 2021

Date

Price Change

CRMLS: 21726634

$2,400,000

Price
May 22, 2021

Date

Price Change

CRMLS: 21726634

$2,450,000

Price
May 5, 2021

Date

Active

CRMLS: 21726634

$2,550,000

Price
Listing provided courtesy of CRMLS

Welcome to this beautiful, partially renovated mid century six unit in the heart of Spaulding area of West Hollywood with lots of trendy restaurants, shopping, amenities and bars just minutes away. The renovation is of high quality, and beautiful touches. Property is fully rented and brings in good income. Very low maintenance for a long time buy and hold kind of investor. You don't want to miss this gem!

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December, 2020
Dec 28, 2020

Date

Sold

CRMLS: 19514738

$1,680,000

Price
Nov 17, 2020

Date

Active Under Contract

CRMLS: 19514738

$1,850,000

Price
Oct 5, 2020

Date

Pending

CRMLS: 19514738

$1,850,000

Price
Sep 22, 2020

Date

Active

CRMLS: 19514738

$1,850,000

Price
Sep 18, 2020

Date

Price Change

CRMLS: 19514738

$1,850,000

Price
Sep 5, 2020

Date

Pending

CRMLS: 19514738

$1,895,000

Price
Aug 25, 2020

Date

Price Change

CRMLS: 19514738

$1,895,000

Price
Aug 25, 2020

Date

Price Change

CRMLS: 19514738

$1,890,000

Price
Aug 24, 2020

Date

Active

CRMLS: 19514738

$1,950,000

Price
Aug 5, 2020

Date

Pending

CRMLS: 19514738

$1,950,000

Price
May 22, 2020

Date

Price Change

CRMLS: 19514738

$1,950,000

Price
Jan 25, 2020

Date

Price Change

CRMLS: 19514738

$2,050,000

Price
Jan 21, 2020

Date

Expired

CRMLS: 19514738

$2,150,000

Price
Jan 7, 2020

Date

Price Change

CRMLS: 19514738

$2,150,000

Price
Sep 25, 2019

Date

Active

CRMLS: 19514738

$2,250,000

Price
Listing provided courtesy of CRMLS

This charming mid-century six-unit complex is well located on Fountain Avenue and Spaulding in the City of Los Angeles. This property is well situated between Sunset and Santa Monica Boulevards. The east-west boundaries are Fairfax and La Brea; which offers convenient access to West Hollywood, the Sunset Strip and Hollywood. This building is easy to manage and maintain and this is its first time on the market in 50 years. +46% Upside in Rents! No parking retrofit required. Front Two Bedroom, One Bath is currently vacant and unremodeled.

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December, 2020
Dec 18, 2020

Date

Sold (Public Records)

Public Records

$1,680,000

Price
March, 2010
Mar 29, 2010

Date

Sold (Public Records)

Public Records

--

Price

Tax History for 7661 Fountain Ave

Assessed Value (2020): $165,625

Year	Land Value	Improved Value	Assessed Value
2020	$66,550	$99,075	$165,625

Home Value Compared to the Market

This property vs the competition

7661 Fountain Ave sold on December 29, 2021 for 84.87% 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 $457.95 per/sqft which puts the price per square foot 39.34% lower than the current median sale per square foot for the city of Los Angeles.

About 7661 Fountain Ave

Detailed summary of property

7661 Fountain Ave is a multi family that recently sold in Los Angeles, CA 90046. This multi family property offered 8 bedrooms, 6 bathrooms, roughly 4,804 living square feet, and sits on an approximately 6,173 square foot lot. 7661 Fountain Ave was first listed on ArdentRealEstateGroup.com on November 4, 2021. The homeowner sold the property for $2,050,000. 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 84.87% higher than the current median priced home. Local homes that are currently for sale include 8013 W 4th St, 126 S Kings Rd and 6416 La Mirada Ave. While the average home in Los Angeles, CA is selling in 94 days, 7661 Fountain Ave has a days on market of 40 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 7661 Fountain Ave Los Angeles, CA 90046 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 7661 Fountain Ave

Public county record property details

Beds: 8
Baths: 6
Year built: 1955
Sq. Ft.: 4,804
Lot Size: 6,173
Stories: --

Type: Apartment House (5+ Units)
Pool: No
Spa: No
County: Los Angeles
Lot#: 2
APN: 5550-031-015

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

$1,950,000

Median List Price/Sq.Ft.

$938

Median Sold Price

$2,000,000

Median Sold Price/Sq.Ft.

$856

Total Inventory

224

Median Sale to List Price %

117.72%

Avg Days on Market

Loan Type

Conventional (2.7%), FHA (0%), VA (0%), Cash (13.51%), Other (2.7%)

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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.