38-Unit Apartment Building Opportunity
Fairview Avenue, Los Angeles, CA 90033
Apartment building with significant upside in a rapidly evolving neighborhood.
Type:Commercial
Property size:
12,006 SFLot size:
0.39 AcresPrice / SF:
$474/SF- Added:
- May 13, 2025
- Days on Market:
- 369
- Last Refresh:
- Apr 5 at 8:57 pm
Property Features for Fairview Avenue
General Information
- Standard status
- Active
- Size
- 12,006 SF
- Lot size
- 0.39 Acres
- Property subtype
- Commercial
Building Details
- Year Built
- 1964
Listing agent KIAN MARONDE
Listing office MARCUS & MILLICHAP
Listing date May 13, 2025
Source Corcoran
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All listing content including descriptions, pricing, images are the copyrighted material of MARCUS & MILLICHAP
HighLights
- 38‑unit apartment building in a rapidly evolving neighborhood.
- Prime location: Just one mile from Downtown LA, offering convenience and access to amenities.
- Twelve units feature unobstructed views of the Downtown Los Angeles skyline.
- Significant upside potential through interior and exterior renovations and strategic value‑add approach.
- Located in a designated Opportunity Zone, offering substantial tax incentives for investors.
- Potential to be repositioned as affordable housing, possibly qualifying for property tax abatements.
Overview
This 38-unit apartment building presents a value-add opportunity through interior and exterior renovations. Located in Los Angeles, in a rapidly evolving neighborhood, the property offers significant upside potential. Rents are currently below market, and many units are in original condition. The property is located within a designated Opportunity Zone, offering substantial tax incentives for investors. Qualified buyers may be able to defer or reduce capital gains taxes by reinvesting in this property. The building can be repositioned as an affordable housing asset, potentially qualifying the buyer for property tax abatements. The buyer is responsible for verifying program eligibility and guidelines. Positioned one mile from Downtown LA, the property benefits from the convenience, employment, and amenities of the urban core while maintaining the charm and character of a residential enclave. Twelve of the units feature unobstructed views of the Downtown Los Angeles skyline. The property size is 12006 square feet.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Apartment buildings
Map
- City
- Los Angeles
- County
- Los Angeles
- State
- California
- Longitude
- -121.722
- Latitude
- 37.9209
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - Apartment building with significant upside in a rapidly evolving neighborhood.
Where is this apartment building located?
The property is located at Fairview Avenue Los Angeles, CA.
What is the asking price?
The asking price for this property is $5,695,000.
What are key features of this property?
This property features: 38‑unit apartment building in a rapidly evolving neighborhood.; Prime location: Just one mile from Downtown LA, offering convenience and access to amenities.; Twelve units feature unobstructed views of the Downtown Los Angeles skyline.
