4920 4922 W Fountain Avenue, Los Angeles, California 90029, Los Angeles, 90029 - bed, bath
ACTIVE$1,499,000
4920 4922 W Fountain Avenue, Los Angeles, California 90029
0Bed
0Bath
1,656Sqft
6,827Lot
Year Built
1924
Close
-
List price
$1.5M
Original List price
$1.6M
Price/Sqft
$905
HOA
-
Days on market
-
Sold On
-
MLS number
GD24201571
Home ConditionFair
Features
View-
About this home
We found 3 Cons,5 Pros. Rank: price - $1.50M(50th), sqft - 1656(17th), beds - undefined(50th), baths - undefined(50th).
Renovated Duplex fully leased at $6,600 Monthly rent. Possible Apts. Development project Market Rate Project: 16 units includes 2 Affordable. 4 story Building with1 level Subterranean parking 100% Affordable: ED1 Project; 28 units of Singles & 1 bedrooms with No Parking requirement.
Nearby schools
3/10
Ramona Elementary School
Public,•K-6•0.3mi
5/10
Kingsley Elementary School
Public,•K-5•0.4mi
/10
Lexington Avenue Primary Center
Public,•K-2•0.5mi
7/10
Los Feliz STEMM Magnet
Public,•K-6•0.6mi
4/10
Lockwood Avenue Elementary School
Public,•K-6•0.7mi
4/10
Grant Elementary School
Public,•K-6•1.0mi
6/10
Dayton Heights Elementary School
Public,•K-5•1.0mi
4/10
Alexandria Avenue Elementary School
Public,•K-5•1.2mi
3/10
Harvard Elementary School
Public,•K-5•1.3mi
6/10
Van Ness Avenue Elementary School
Public,•K-5•1.5mi
7/10
Dr. Sammy Lee Medical And Health Science Magnet Elementary
Public,•K-5•1.5mi
4/10
Frank Del Olmo Elementary School
Public,•K-6•1.5mi
5/10
Cahuenga Elementary School
Public,•K-5•1.8mi
6/10
Charles H. Kim Elementary School
Public,•K-5•1.8mi
6/10
Thomas Starr King Middle School
Public,•6-8•0.9mi
3/10
Joseph Le Conte Middle School
Public,•6-8•1.2mi
5/10
Virgil Middle School
Public,•6-8•1.5mi
4/10
Young Oak Kim Academy
Public,•6-8•2.2mi
7/10
John Burroughs Middle School
Public,•6-8•3.2mi
4/10
Helen Bernstein High School
Public,•9-12•1.0mi
8/10
John Marshall Senior High School
Public,•9-12•1.4mi
6/10
Hollywood Senior High School
Public,•9-12•2.4mi
3/10
Rfk Community Schools-Ambassador-Global Leadership
Public,•6-12•2.4mi
4/10
Rfk Community Schools-Los Angeles High School Of The Arts
Public,•9-12•2.4mi
5/10
Rfk Community Schools- For The Visual Arts And Humanities
Public,•9-12•2.4mi
3/10
Belmont Senior High School
Public,•9-12•3.0mi
7/10
Fairfax Senior High School
Public,•9-12•3.7mi
Price History
Date
Event
Price
09/25/25
Price Change
$1,499,000
09/27/24
Listing
$1,599,000
07/01/22
Sold
$945,000
Condition Rating
Fair
The property, built in 1924, has undergone recent cosmetic renovations including new laminate/hardwood flooring, fresh paint, modern flush-mount lighting, and mini-split AC units. The kitchen features updated cabinets and countertops, but the appliances (refrigerator and range) appear older and basic. No bathroom images are provided, which is a significant omission for a 'renovated' property. While the interior is move-in ready and functional for tenants, the overall structure is very old, and the kitchen appliances are outdated. The listing's emphasis on 'Possible Apts. Development project' with renderings for a new building suggests the property's primary value is in its land for redevelopment, rather than the long-term quality of the existing structure, despite its recent updates. This combination of an aged structure with partial, mostly cosmetic, updates places it in the 'Fair' category, as it's maintained but shows signs of being outdated in key areas and lacks a comprehensive modern renovation.
Pros & Cons
Pros
Significant Development Potential: The property offers substantial future value with explicit potential for apartment development, including options for 16 market-rate units (with subterranean parking) or 28 100% affordable ED1 units (no parking requirement).
Strong Current Income Stream: The renovated duplex is fully leased, generating $6,600 monthly rent, providing immediate cash flow and offsetting holding costs for a developer or investor.
Prime Los Angeles Location: Located in the highly desirable Hollywood area (MLS Area C20) of Los Angeles, ensuring strong demand and potential for appreciation.
Renovated Existing Structure: The current duplex has been renovated, suggesting good condition for continued rental income or holding during the development planning phase.
Attractive Lot Size for Development: The 6,827 sqft lot provides ample space, making the proposed multi-unit apartment development feasible in a dense urban environment.
Cons
Age of Existing Structure: Built in 1924, the existing duplex is nearly a century old, which may entail higher maintenance costs if retained or significant demolition expenses if redeveloped.
No Scenic View: The property description explicitly states 'view: None,' which could be a minor drawback in a market where scenic views often command a premium.
Development Project Complexity: While offering high potential, undertaking a 16-28 unit apartment development is a complex endeavor involving substantial capital, time, and navigating regulatory hurdles, including potential subterranean parking requirements for market-rate units.