571 Fairview Avenue

Los Angeles CA 90033

0.39 sq. ft.

Multi-Family

Last sold for $4,995,000

Raymond Rodriguez, last sold this property on 13 March 2024 after -426 days on market.

Overview

Presenting a rare investment opportunity to acquire Fairview Heights, a stunning 38-unit multifamily investment property offering incredible views of Los Angeles. Centrally located at 571 Fairview Ave. in the historic neighborhood of Boyle Heights, in East L.A., this special property has been under the same caring ownership for nearly a half century. Fairview Heights features beautiful mid-century modern architecture. Positioned on a corner lot cul-de-sac off Fairview Ave. and perched regally atop a bluff. The property offers 16 parking spaces, a laundry room, swimming pool, and a charming community garden area that also offers space to add a BBQ area with tables & chairs. The apartment building totals 38 cozy units comprised of 37 singles and 1 one-bedroom / one-bathroom plus office unit. Unit amenities include wall A/C units, plenty of closet space and kitchens outfitted with a stove and refrigerator. The construction is of a wood frame, flat roof, and painted stucco exterior. Built in 1964 totaling +/- 12,006 square feet on a +/- 16,874 square foot lot currently zoned R3 and located in an Opportunity Zone. The units are master-metered for gas and electricity. This unique value-added investment offers significant income upside potential of +/- 47% and represents an attractive price per unit and pro-forma Cap Rate of +/- 9.01%! All units are currently eligible for annual rental increases at a maximum of +/- 6% in February 2024, allowing for an investor to quickly realize a significant portion of the rental upside potential. In addition, an investor could benefit greatly fr

Features

1 bedroom

2 bathrooms

0.39 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 Raymond Rodriguez, of Keller Williams Realty Calabasas

Happy sellers in Los Angeles

We have insufficient information to provide an overview of customer satisfaction for Los Angeles. Viewing the agent profiles, reviews and sales for Los Angeles can provide insights for this location.

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

(111 reviews)

Get a market analysis

Karen Carlson

at First Team Real Estate

(9 reviews)

Get a market analysis

Maria Moreno

at Sanco Investments Inv.

Get a market analysis

ARMAND MARTINEZ

at Century 21 Masters

(8 reviews)

Get a market analysis

Nearby agents

Compare and contact these top performing agents who’ve delivered exception customer service for their clients in Los Angeles

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