571 Fairview Ave - Apartments FOR SALE


Los Angeles, CA 90033- Boyle Heights
$5,500,000 USD
310-872-8004
571 Fairview Ave, Los Angeles, CA for Sale
$5,500,000 USD
Apartments - FOR SALE
1/38
null | 7.02% Cap Rate

571 Fairview Ave
Los Angeles, CA 90033
Boyle Heights


HIGHLIGHTS

  • Value-Add Opportunity with Over 40% Rental Upside Potential
  • Strong Historical Performance with 96.8% Current Occupancy and No Bad Debt
  • Highly Amenetized Asset with a Pool, Parking, Laundry, and More
  • 15 of the 38 Units (39%) Renovated
  • ±$175k Spent in Capital Improvements

OVERVIEW

Jones Lang LaSalle Americas, Inc., as exclusive advisor, is pleased to present for sale the Fairview Apartments (the “Property”), a value-add 38-unit multifamily investment opportunity located in the historic neighborhood of Boyle Heights, Los Angeles. This boutique asset represents a compelling opportunity to acquire a well-maintained building with significant upside potential through strategic renovations and unit repositioning. The seller has already invested ±$175K to modernize 15 of the 38 units (39%), demonstrating meaningful renovation upside across the remaining unit mix. Built in an era of durable construction and classic architectural character, Fairview Apartments offers the ideal foundation for value-creation through modernization. The Property comprises 38 residential units that provide residents with comfortable living spaces well-suited for today’s renters. The building’s established presence and proven operational track record create a stable platform for implementing targeted capital improvements that can unlock substantial rent growth. Strategically positioned in Boyle Heights with direct access to multiple Metro Gold Line stations, Fairview Apartments benefits from exceptional transit connectivity to Downtown LA, USC Medical Center, and the Arts District. It’s location right off Interstate 10 makes it appealing to rents commuting to the city for their employment. The Property enjoys proximity to Cesar Chavez Avenue’s established retail corridor and iconic neighborhood landmarks including Mariachi Plaza. With the Property located in a walkable neighborhood and comprehensive transit options, Fairview offers residents authentic East Los Angeles living with car-optional convenience and immediate access to LA’s core employment centers, all at accessible price points that significantly under comparable transit-oriented communities in adjacent premium markets.

FOR SALE DETAILS

PRICE

$5,500,000 USD

PRICE/SF

$458 USD /SF

# OF UNITS

38

PRICE/UNIT

$144,737

CAP RATE

7.02%

% LEASED

87%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Fairview Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1964

PARKING SPACES

16

LAND DETAILS

LAND ACRES

0.39 AC

LAND SF

16,874 SF

ZONING

LAR3

APN/PARCEL ID

5174-011-022

ASK ABOUT THIS PROPERTY

310-872-8004

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310-872-8004

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