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4920 Fountain Ave Los Angeles, CA 90029

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Los Angeles Land, 6,824 sq ft, $1.7M

Property Features for 4920 Fountain Ave

General Information

Property type
Land

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Listing Contact
Roobik Ovanesian
Roobik Ovanesian

Listing Agent: Roobik Ovanesian

Displayed information is deemed reliable but is not guaranteed and should be independently verified.

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Property Insight Report

Overview

This Los Angeles development site, located at 4920 Fountain Ave, 90029, offers 6,824 square feet of land zoned R3-1. Priced at $1,699,000 ($263/sq ft), it presents an opportunity to develop either a 27-28+ unit 100% affordable housing project with ADUs (no parking required, 5-story building) or a 16-unit market-rate project with ADUs and parking (4-story building). The property includes six parking spaces and is situated within walking distance of three major hospitals: Kaiser, Children's, and Presbyterian. The site is currently held in LLC Fee Simple ownership. The pro-forma NOI is $65,000, resulting in a 3.52% cap rate. Annual rent bumps are permitted. Securing entitlements is estimated to take two or more years, with rental income potentially covering expenses during this period. The APN is 5540-010-003.
Property Profile Insight Report Location Intelligence

Current Use by Public Records

Commercial real estate

Suggested Use

Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Gym & Fitness Center Grocery & Convenience Store

Zoning and permitted uses should be independently verified with local authorities.

Location Insight

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  • Local Demand
City
Los Angeles
County
Los Angeles
State
California
Longitude
-118.29697436258
Latitude
34.095373811416

FAQs

What type of property is this?
Land - Los Angeles Land, 6,824 sq ft, $1.7M
Where is this land located?
The property is located at 4920 Fountain Ave Los Angeles, CA.
What is the asking price?
The asking price for this property is $1,699,000.
What are key features of this property?
This property features: Strong rental income offsets holding costs during the 2-year entitlement process.; ;
(818) 550-0760 Call to check price and availability
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