5663 Fountain Avenue

    Los Angeles (City), CA 90028
    • $2,095,000
    • STATUS: Active
    • ON SITE: 20 days
    • MLS #: 19513564
    Price Reduced
    UPDATED: 32 min ago
    $2,095,000
    • 0
      BEDS
    • 0.17
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 6,462
      SQFT
    • $324
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1956
    County:

    School Ratings & Info

    Description

    An exciting new offering is available at this just listed, 8-Unit building in the heart of Hollywood. Centrally located one block south of Sunset and less than a mile to the Metro Red Line. 5663 Fountain Avenue is a mid-century inspired, two-story building consisting of (8) large two-bedroom, one bath units and offering over 6,400 square feet of living space. The lot is zoned LAR3 and is situated on a 7,510 square foot lot. The current gross income is approx. $9707/mth; $116,485/yr. and the property is priced at: $274,375/unit; a 18.84 current GRM; a 3.72% cap rate, and $339/SF. The utilities are separately metered for gas & electric. Building is professionally managed. Great 1031 exchange opportunity.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-10-14T13:35:24.707. 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 deemed reliable but is not guaranteed accurate by the MLS or Desert Area Homes For Sale | Premier Properties. Licensed in the State of California, USA.
    www.desertareahomesforsale.com/homes/99243252

    5663 Fountain Avenue Los Angeles (City), CA 90028

    • Price: $2,095,000
    • Status: Active
    • Updated: 32 min ago
    • MLS #: 19513564
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.17
    Acres
    6,462
    SQFT
    $324
    $/SQFT
    1956
    Built
    Neighborhood:
    C20 - Hollywood
    County:
    Los Angeles
    Area:
    C20 - Hollywood
    Property Description
    An exciting new offering is available at this just listed, 8-Unit building in the heart of Hollywood. Centrally located one block south of Sunset and less than a mile to the Metro Red Line. 5663 Fountain Avenue is a mid-century inspired, two-story building consisting of (8) large two-bedroom, one bath units and offering over 6,400 square feet of living space. The lot is zoned LAR3 and is situated on a 7,510 square foot lot. The current gross income is approx. $9707/mth; $116,485/yr. and the property is priced at: $274,375/unit; a 18.84 current GRM; a 3.72% cap rate, and $339/SF. The utilities are separately metered for gas & electric. Building is professionally managed. Great 1031 exchange opportunity.
    Exterior Features

    Carport Spaces 5.00 Lot Size Units Square Feet Parking Features Detached Carport Parking Total 5.00 Parking YN Yes

    Interior Features

    Cooling See Remarks Cooling YN Yes Laundry Features See Remarks

    Property Features

    Cap Rate 3.89 Gross Multiplier 17.90 Gross Operating Income 116485.00 Improvements Amount 633746 Land Value 749932 Laundry YN Yes Net Operating Income 81701.00 Special Listing Conditions Standard Total Actual Rent 116485.00 Total Expenses 34784.00 Zoning Lar3

    Listing provided courtesy of Henry Plascencia of Compass


    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-10-14T13:35:24.707. 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 deemed reliable but is not guaranteed accurate by the MLS or Desert Area Homes For Sale | Premier Properties. Licensed in the State of California, USA.
     
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