7401 Fountain Avenue, Los Angeles, CA 90046
List Price: $2.15M
Listing Status: Active
Original List Price: $2.23M
0Days on Market: 148
8 Bedrooms · 5 Bathrooms · 6,040 sq ft
Property Type: ResidentialIncome
Year Built: 1920
Lot Size: 6,228 sq ft
Private Pool: Yes
MLS Number: 26642937
About This Property
***ONE UNIT RECENTLY DELIVERED VACANT AFTER APPROXIMATELY 20 YEARS OF TENANCY, PROVIDING INVESTORS WITH A RARE OPPORTUNITY TO IMMEDIATELY RENOVATE AND REPOSITION THE UNIT WITHOUT TENANT RELOCATION CONCERNS.*** 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.
