4110 W Fountain Avenue, Los Angeles, CA 90029
-
Listed Price :
$1,645,000
-
Beds :
8
-
Baths :
4
-
Property Size :
3,516 sqft
-
Year Built :
1928
Property Description
Back on market. Seller is way more motivated in Jan of '25 than he was in '24, as evidenced by the quarter of a million dollar drop in price! If you are smart you will be the first one in to get what is now an amazing opportunity. Three of the four units can be delivered vacant if that is what you want. We reckon that traditional rental will fetch approx $2700/mo on each of the vacant units. On the other hand, the current owner is getting $3700/mo(!) on short term (30 day or more) rentals. He has not had a vacancy in 15 months. So, you can do what the current owner has been doing if you are so inclined. Or, if you would prefer, the seller is willing to stay on as your Manager indefinitely for the 30 day rentals at the absurd fee of $500/mo.! That is $500/mo for all three, not for each one. This is a tremendous opportunity, as he has already demonstrated his competence and success on this, and he is happy to do it for you; or to coach you on how to do it for yourself. The location makes this particular property uniquely suited for success on the short term rental model. And, of course, someday the long term lower rent tenant will vacate so you even have some very good upside there. If you do the math you will see that, at the current asking price with these units staying occupied at these rents, a new owner will cash flow very nicely. And why not? After all, it is walking distance to all shops and restaurants on Sunset Blvd in Silver Lake, to say nothing of being right down the street from everything on Hillhurst and Vermont and Hyperion in Los Feliz. In other words right in the thick of things. Plus, very convenient freeway access to all studios as well as downtown. Also, the units have actually been renovated very nicely and they are also spacious, light and airy. True, there is no parking on the premises, but this has not prevented it from remaining occupied non-stop at very nice rents. And street parking is pretty good. Lots of upgrades have been done on all the systems so you will not be spending a lot of maintenance/repair money on this property. In summary this is a really great property to add to your portfolio if you are an experienced real estate investor or, if you are new to this game, this is a perfect property for you to 'cut your teeth' on.
Interior Features
| Laundry Information |
| Location(s) |
See Remarks |
| Bedroom Information |
| Bedrooms |
8 |
| Bathroom Information |
| Bathrooms |
4 |
| Interior Information |
| Features |
Ceiling Fan(s) |
Listing Information
| Address |
4110 W Fountain Avenue |
| City |
Los Angeles |
| State |
CA |
| Zip |
90029 |
| County |
Los Angeles |
| Listing Agent |
Ken Shapiro DRE #01715663 |
| Courtesy Of |
Silverwood Properties |
| List Price |
$1,645,000 |
| Status |
Active |
| Type |
Residential Income |
| Structure Size |
3,516 |
| Lot Size |
2,422 |
| Year Built |
1928 |
Listing information courtesy of: Ken Shapiro, Silverwood Properties. *Based on information from the Association of REALTORS/Multiple Listing as of Jan 21st, 2025 at 9:26 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. 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.
