571 Fairview Avenue

Los Angeles CA 90033

12006 sq. ft.

16879 sq. ft.

Multi-Family

Last sold for $4,995,000

Kian Maronde, last sold this property on 13 March 2024 after -426 days on market.

Overview

This 38-unit apartment building offers significant upside through interior and exterior renovations. With rents below market and many units in original condition, a strategic value add approach can unlock immediate equity and long-term rental growth in one of LA's most culturally rich and rapidly evolving neighborhoods. Located within a designated Opportunity Zone, this asset presents substantial tax incentive potential for investors. Qualified buyers can defer or reduce capital gains taxes by reinvesting in this property, enhancing both short-term profitability and long-term financial planning. The building offers the unique ability to be repositioned as an affordable housing asset. This strategy may qualify the buyer for property tax abatements, reducing operating expenses while meeting a critical housing need in Los Angeles. Buyer to verify program eligibility and guidelines. Positioned just one mile from Downtown LA, this is the closest you can be in Boyle Heights to the city's urban core. The property benefits from the convenience, employment, and amenities of Downtown while maintaining the charm and character of a residential enclave. Twelve of the units enjoy breathtaking, unobstructed views of the Downtown Los Angeles skyline. These desirable outlooks are a premium feature that adds instant appeal for renters seeking an elevated living experience, setting the property apart from competing assets. Centrally located between the USC Medical Center and White Memorial Hospital, this building is ideally situated to attract healthcare professionals, students, and staff. The surrounding medical infrastructure continues to grow, providing stable rental demand and strong tenant demographics. The property includes valuable onsite parking, a significant advantage in a high-density urban environment. This convenience enhances tenant satisfaction and broadens your potential renter pool, especially among professionals and commuters.

Features

1 bedroom

38 bathrooms

19 carspaces

12006 sq. ft. floor area

16879 sq. ft. lot size

Multi-Family

Estimated Value

We need at least 3 similar 1 bedroom multi families sold in Los Angeles over the last 12 months.

Property history for 571 Fairview Avenue

2024

Sold

$4,995,000

13 Mar 2024 by Kian Maronde, of Marcus & Millichap

Happy sellers in Los Angeles

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Local market activity for 1 bedroom multi families in Los Angeles

Sold

For Sale

Interested in selling?

People are reaching out to these agents in Los Angeles for a market analysis.

Sophia De La Vara

at Keller Williams Whittier

(107 reviews)

Get a market analysis

Karen Carlson

at First Team Real Estate

(8 reviews)

Get a market analysis

Maria Moreno

at Sanco Investments Inv.

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ARMAND MARTINEZ

at Century 21 Masters

(8 reviews)

Get a market analysis

Nearby agents

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Sophia De La Vara

Sellers who recommend Sophia De La Vara have praised them for being local expert, clear communication, responsive, supportive, patient, dedicated, and great negotiation