FOR SALE
4563 Fountain Ave
Los Angeles, CA 90029
Hollywood- 8 Beds
- 8 Baths
- 5,624 sqft
- 8 Beds
- 8 Baths
- 5,624 sqft
8 Beds
8 Baths
5,624 sqft
Local Information
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Commute Destination
Description
We are pleased to present a value-add 8-unit apartment building in the heart of East Hollywood, just blocks from Virgil Village, Silverlake, and close to Los Feliz and Hollywood. The subject property consists of eight one bedroom, one bath units of which two will be delivered vacant. This property comprises of two buildings totaling approximately 5,624 square feet on an approximately 6,970 square foot parcel of land zoned C4-1D. The lot is zoned C4-1D and is in Tier 3 of TOC (transit-oriented community) allowing for the development of +/- 29 units using TOC, and potentially more units using ED1 as a 100% affordable project. Currently there is room for four car parking (two tandem spaces) and addition courtyard space. There is likely enough room on this site to build a detached ADU. Buyer to verify all development potential with their own architect. All development is subject to the Vermont/Western Station Neighborhood Area Plan. Seller and Broker make no representations as to developability of this property. At this time the building is master leased to APLA Health but will be delivered with no master lease in place. All of the leases are with Section 8 tenants and five of the six remaining tenants are paying significantly below market rents. There is immediate upside by increasing the current rents to 4% and filling two vacancies bringing you to an immediate 6.2% cap rate. After a 4% rent increase and filling two vacancies, there still remains an additional 36% upside in rents. The sale of the property is contingent upon approval of an early loan payoff by the state of California. East Hollywood borrows elements from neighbors Silverlake, Los Feliz, Echo Park, Larchmont Village and wraps them up in an attainably priced package. One notable architectural marvel, The Hollyhock House, was designed by Frank Lloyd Wright for oil heiress Alice Barnsdall, who also serves as the namesake for the structure's surrounding Art Park. With the neighborhood seemingly evolving by the day, East Hollywood's near 250-year history is just getting started. An equal mix of hyped hotspots attracting visitors far and wide and local institutions that have helped shape the neighborhood, East Hollywood is the place for those who want a neighborhood atmosphere with the big city at arms' length. Family-owned bars like Tiki-Ti and cornershop coffee house Cafecito Organico lend a more neighborly feel to East Hollywood, but the glitz and glimmer of L.A. is still ever-present in this historic neighborhood. Multi-cultural and family-oriented, East Hollywood is a great place to spend a year or a lifetime.
Home Highlights
Parking
4 Parking Spaces
Outdoor
No Info
A/C
Heating only
HOA
None
Price/Sqft
$266
Listed
33 days ago
Home Details for 4563 Fountain Ave
Interior Features |
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Beds & Baths Number of Bedrooms: 8Number of Bathrooms: 8 |
Dimensions and Layout Living Area: 5624 Square Feet |
Heating & Cooling Heating: OtherNo CoolingAir Conditioning: NoneHas HeatingHeating Fuel: Other |
Fireplace & Spa Spa: None |
Levels, Entrance, & Accessibility Stories: 2Levels: Two |
Exterior Features |
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Exterior Home Features Other Structures: None |
Parking & Garage No CarportNo GarageNo Attached GarageParking Spaces: 4Parking: Unassigned |
Pool Pool: None |
Days on Market |
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Days on Market: 33 |
Property Information |
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Year Built Year Built: 1923 |
Property Type / Style Property Type: Residential IncomeProperty Subtype: Multi Family |
Price & Status |
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Price List Price: $1,495,000Price Per Sqft: $266 |
Active Status |
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MLS Status: Active |
Location |
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Direction & Address City: Los Angeles |
Agent Information |
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Listing Agent Listing ID: 24-372459 |
Building |
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Building Area Building Area: 5624 Square Feet |
Lot Information |
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Lot Area: 6873.768 sqft |
Listing Info |
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Special Conditions: Standard |
Compensation |
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Buyer Agency Commission: 2.5Buyer Agency Commission Type: % |
Notes The listing broker’s offer of compensation is made only to participants of the MLS where the listing is filed |
Miscellaneous |
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Mls Number: 24-372459 |
Last check for updates: about 14 hours ago
Listing courtesy of Oron Maher DRE # 01299093, (310) 464-1453
Maher Commercial Realty, (310) 464-1453
Source: CLAW, MLS#24-372459
Price History for 4563 Fountain Ave
Date | Price | Event | Source |
---|---|---|---|
03/25/2024 | $1,495,000 | Listed For Sale | CLAW #24-372459 |
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Property Taxes and Assessment
Year | 2023 |
---|---|
Tax | $934 |
Assessment | $796,329 |
Home facts updated by county records
Comparable Sales for 4563 Fountain Ave
Address | Distance | Property Type | Sold Price | Sold Date | Bed | Bath | Sqft |
---|---|---|---|---|---|---|---|
0.34 | Multi-Family Home | $2,500,000 | 09/28/23 | 12 | 10 | 4,992 | |
0.15 | Multi-Family Home | $910,000 | 06/30/23 | 5 | 4 | 2,751 | |
0.50 | Multi-Family Home | $1,750,000 | 05/09/23 | 8 | 4 | 4,144 | |
0.28 | Multi-Family Home | $1,707,000 | 05/09/23 | 4 | 4 | 3,436 | |
0.29 | Multi-Family Home | $1,515,000 | 08/31/23 | 4 | 4 | 2,462 | |
0.80 | Multi-Family Home | $2,300,000 | 06/22/23 | 10 | 8 | 4,056 | |
0.56 | Multi-Family Home | $1,195,000 | 04/10/24 | 5 | 5 | 4,698 | |
0.83 | Multi-Family Home | $1,385,000 | 10/04/23 | 7 | 6 | 4,024 |
Neighborhood Overview
Neighborhood stats provided by third party data sources.
What Locals Say about Hollywood
- Lou
- Resident
- 3d ago
"Nothing it’s garbage. Dog poop everywhere. No parking. Trash everywhere. Can’t wait to move out of here. Traffic is insane too"
- Sugar1975
- Resident
- 2mo ago
"Friendliest families that have lived on Lemon Grove and Hobart for over 15 years. Lemon Grove Park and Melrose Hills make for a nice late afternoon walk with our two toddlers. "
- R
- Resident
- 3mo ago
"It’s an evolving neighborhood that with gentrification its becoming safer but more expensive. So only the people that have a good source of income will be able to enjoy what will become of this area in the near future"
- Trulia User
- Resident
- 4mo ago
" People don’t clean up after their dogs poop. "
- Momo Yang
- Resident
- 4mo ago
"near police station but not safe that much since they are doing nothing. quite but many homeless people."
- Trulia User
- Resident
- 5mo ago
"There is plenty of place for the dogs to use the bathroom. Very well maintained areas. Beautiful walks"
- Trulia User
- Resident
- 5mo ago
"No one picks up after their dogs. Even with the signs posted everywhere, there is dog feces all over the place. "
- Trulia User
- Resident
- 6mo ago
"other people don't pick up after there dogs. even thought it is a residential area cars still speed."
- Trulia User
- Resident
- 7mo ago
"high traffic in this area and around hollywood bowl. not very pleasant but can be convenient at times."
- Trulia User
- Resident
- 7mo ago
"I don’t like that others don’t pick up their dogs poop. You need to watch out where your walking. But schools are close. There are parks that kids can play. I feel safe walking after dark.. also there are a lot of eating place and small grocery shops. Near bus stations. Accessible to everything."
- Trulia User
- Resident
- 1y ago
"8-35 minutes to DTLA. 30-70 minutes to the coast. Can’t complain about either! Hollywood is pretty central to everything LA has to offer. "
- Trulia User
- Visitor
- 1y ago
"There are many different music venues nearby that allow for community events. A lot of the local bars are fun places to hangout at!"
- Trulia User
- Resident
- 1y ago
"I can't think of any community events in the area. mostly tourist traps and retail stores. ......,.......... "
- Trulia User
- Resident
- 1y ago
"Larchmont has a feel of small town quaintness and a great sense of community while being centrally located to everything "
- Trulia User
- Resident
- 1y ago
"Very loud all the time. Very expensive. I feel on edge walking around. All in all a bad deal. "
- Trulia User
- Resident
- 1y ago
"Bought here over a year ago and for a new young homeowner, the area feels lively but still safe. Enjoy the area"
- Trulia User
- Prev. Resident
- 1y ago
"People and their culture. Different races represented from around the world. Different varieties of food too. "
- Trulia User
- Resident
- 1y ago
"Love my neighborhood very safe all neighbors are like family to each other I grew up at this neighborhood and now my kids grew up here as well most of my neighbors are living here ever since i can remember"
- Trulia User
- Resident
- 1y ago
"It’s a safe, clean and nice neighborhood to live. People are friendly here. A lot of place to park☺️ "
- Trulia User
- Resident
- 2y ago
"Hollywood is and always will be a dangerous place to live. It’s close to most things so it’s convenient but everything else is constantly sketchy "
- Trulia User
- Resident
- 2y ago
"Runyon is always available during daylight. Cute coffee shops and eateries abound. Watch the sunset on Mulholland daily. Check out a film/TV screening. So much more. "
- Trulia User
- Resident
- 2y ago
"nothing. it sucks crime is getting worse homeless out of control . garbage everywhere, no sense of community, traffic terrible "
- Trulia User
- Resident
- 2y ago
"It’s a very beautiful neighborhood perfect for walking your dog, however, if you your dog is older or has physical difficulties it would be hard on your dog because there are lots of steep inclined hills. "
- Trulia User
- Resident
- 2y ago
"I see dog owners walk their dogs every day, anytime. You’ll see a lot of people taking a stroll anytime of any day. You’ll see a lot of joggers too, they’ll be running any time except for (high afternoons when the sun is at its highest). There are tons of park to visit with your family. The only downside here is that there are homeless everywhere. That and the real estate is pretty expensive."
- Trulia User
- Resident
- 2y ago
"Dog friendly but always watch where you’re walking because some dog owners do not pick up after their pets "
- Trulia User
- Resident
- 2y ago
"Good public transportation , close to markets and retail stores and medical facilities. There is direct freeway access to downtown pluses busses and subway"
- Trulia User
- Resident
- 2y ago
"there are always events and attractions that very unique to hollywood. my doorstep is two blocks away from the Walk of Fame, as I am entering you this I am walking down Hollywood boulevard stepping over Stars as I walked past hard Rock Cafe and the Hollywood highland Mall and approaching Ripley's Believe it or not museum. it is impossible to spend an hour or two in Hollywood and not realize you are in Hollywood. "
- Trulia User
- Resident
- 2y ago
"It’s touristy, there are lots of temporary residents and transients in this area. Homeless exist, crime exists. It’s not terrible, and there are some nice parts. Very mixed bag"
- Trulia User
- Resident
- 2y ago
"Near freeways. All good. Take the metro train DT. Great public transportation. Good shopping and takeout nearby. Love my Gelsons"
- Trulia User
- Visitor
- 2y ago
"Safe neighborhood. Cleanliness. I feel safe walking my dog, going on jogs, even leaving my door unlocked! "
- Trulia User
- Resident
- 2y ago
"It’s clean, well maintained, nice and very close to everything. We have Runyon canyon and clues to West Hollywood, Beverly Hills and many theaters and museums."
- Trulia User
- Resident
- 2y ago
"Hollywood Studio District is great! We’ve lived here a few years and love it. Diversity of people, restaurants. Central location, easy to get anywhere in LA."
- Trulia User
- Resident
- 2y ago
"The surrounding area is difficult to navigate because of rampant vagrancy along the streets and sidewalks. "
- Trulia User
- Resident
- 3y ago
"Not very kids friendly but good location for going to different parks in the city, Pan pacific, Griffith"
- Trulia User
- Resident
- 3y ago
"mixed bag of good and bad, I wouldn't suggest this neighborhood for families but for a young couple or roommates it is alot of fun."
- Kyle M.
- Resident
- 3y ago
"Fast (potentially dangerous) neighborhood and surrounding traffic, loud noises at all hours, homeless presence is significant, crime is present but not overly terrible, and ironically street parking is surprisingly ok. Mostly, the Melrose, Highland and Santa Monica traffic and general noise are primary downsides."
- Patrick C.
- Resident
- 3y ago
"Would be a great neighborhood. It’s super walkable, great restaurants and bars, but constant sirens and police helicopters. Having said that it’s actually pretty safe just very loud and dirty. And there is a significant homeless issue."
- Whitlynnb
- Resident
- 3y ago
"There is significant crime and streets are not very safe for kids to play near. I live in Melrose Hill which is literally a charming residential utopia in the middle of madness so my take on Hollywood is a bit skewed"
- Unspecified
- Resident
- 3y ago
"To crowded and many people with cars makes it hard to find parking around your place areas never clean "
- Tatianka
- Resident
- 4y ago
"It’s pretty safe but many homeless people. I heard high school is not very good. Some areas like hollywood hills is very nice and safe"
LGBTQ Local Legal Protections
LGBTQ Local Legal Protections
Oron Maher, Maher Commercial Realty
© 2024 The MLS™ - Combined L.A. Westside MLS (CLAW). All rights reserved. Based on information from The MLS™ - Combined L.A. Westside MLS (CLAW as of 2024-01-24 14:45:40 PST. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Information is deemed reliable but not guaranteed.
The listing broker’s offer of compensation is made only to participants of the MLS where the listing is filed.
The listing broker’s offer of compensation is made only to participants of the MLS where the listing is filed.