5663 FOUNTAIN Avenue, Los Angeles, CA 90028

About this property

I am pleased to present for sale 5663 Fountain Avenue, an 8-unit apartment building, located in the heart of Los Angeles' Hollywood neighborhood. As one of Los Angeles' densely populated neighborhoods, this submarket's popularity has grown significantly over the recent years, with vibrant and lively nightlife scene and trendy retail and coffee shops in the immediate area. With new ground-up development in the immediate gentrifying area, the location has been catering to families, young professionals and hipsters alike in recent years. The location of the asset is also considered a "Walkers Paradise" with an 85 Walk Score and situated a short distance from highly desirable dining and entertainment options. 5663 Fountain Avenue currently consists of eight (8) two-bedroom units with permitted plans to convert into four (4) two-bedroom units and four (4) permitted three-bedroom units and is conveniently separately metered for gas and electric. With six out of eight units being delivered vacant, new ownership will have the opportunity to renovate and achieve additional rental premiums immediately. The subject property allows an investor to acquire a well-located apartment asset with the unique ability to immediately renovate and re-tenant the property. Income and Expenses are based entirely off projections and do not represent the current performance of the property. 3B/1B Units are Permitted. Currently Operating as 2B/1B.

Listing description from the July 2022 sale, as reported to CRMLS.

Sale history

$2,880,000

Sold July 2022 · listed $2,900,000, on market March 2022 · MLS #22140121 · Source: CRMLS

Listing Agent: Sean Rosenzweig · Listing Office: Marcus & Millichap · Contact: 213-943-1800 · Bought with: Powai Wong · Coldwell Banker Realty

$2,000,000

Sold January 2020 · listed $2,095,000, orig. $2,195,000, on market September 2019 · MLS #19513564 · Source: CRMLS

Listing Agent: Henry Plascencia · Listing Office: Compass · Contact: 626-205-4040 · Bought with: Eliza Kerndian · Keller Williams Realty Westside

$1,310,000

Sold April 2014 · listed $1,350,000, on market January 2014 · MLS #14730817 · Source: CRMLS

Listing Agent: David Bramante · Listing Office: Keller Williams-Santa Monica · Contact: 310-482-2200 · Bought with: Wilson Tsai · Kelton Group, Inc.

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