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Mia Ellison

[email protected] +1(310) 600-6948

$ 2,350,000

Est. payment -/mo

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Price Dropped by $29K

7401 Fountain AVE Los Angeles, CA 90046

8 Beds

5 Baths

6,040 SqFt

UPDATED:

10/05/2024 05:18 PM

Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 6,040 sqft

Price per Sqft $389

MLS Listing ID 24391369

Bedrooms 8

Construction Status Fixer

HOA Y/N No

Year Built 1920

Lot Size 6,229 Sqft

Property Description

Welcome to 7401 Fountain Avenue, a charming multi-unit property strategically positioned at the crossroads of West Hollywood and Los Angeles. This unique real estate offering comprises a four-unit apartment building (with one unit as Section 8) alongside a single-family home, which is currently configured as a one-bedroom, one-bathroom residence (previously two bedrooms). Marking its first availability in two decades, this property is situated in one of Los Angeles' most fashionable neighborhoods.The property showcases a significant investment potential, with one unit remodeled approximately two years ago and another eight years prior. The remaining two apartments and the detached home present a wealth of opportunity to enhance and optimize future rental income. Furthermore, the R3 zoning with Tier 1 TOC underscores vast possibilities for future development, adding a layer of value to this investment.Located just south of the iconic Sunset Strip, 7401 Fountain boasts an impressive Walk Score of 92, labeling it as a "Walker's Paradise." Residents enjoy proximity to Beverly Hills, The Grove, and numerous renowned boutiques, eateries, and entertainment venues within a 10-minute drive. In addition to its prime location, the property ensures tenant security with gated front access and an automated gate leading to a shared parking lot with six spaces, alleviating the typical urban parking challenges.Each spacious unit features laundry hook-ups, dining areas, hardwood floors, generous closet space, and additional storage, all adorned with an abundance of original character from its 1920 construction. The property also benefits from updated electrical systems, enhancing its functionality and appeal. Sitting directly across from Plummer Park, this property spans a total lot size of 7,536 square feet, offering both charm and a substantial canvas for modern enhancements.

Location

State CA

County Los Angeles

Area C20 - Hollywood

Zoning LAR3

Interior

Interior Features Ceiling Fan(s)

Heating Central

Cooling Central Air

Fireplace No

Appliance Dishwasher, Refrigerator, Dryer, Washer

Exterior

Parking Features Gated, Private

Pool None

Community Features Gated

Total Parking Spaces 6

Private Pool No

Building

Lot Description Front Yard

Story 2

Entry Level Two

Sewer Other

Architectural Style Spanish

Level or Stories Two

New Construction No

Construction Status Fixer

Others

Senior Community No

Tax ID 5550023008

Security Features Security Gate,Gated Community

Special Listing Condition Standard

Listed by Sebastian Wolski • Compass

Mia Ellison

Broker Associate | SB01271824

+1(310) 600-6948

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Mia Ellison

7401 Fountain AVE Los Angeles, CA 90046

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7401 Fountain AVE