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2441 Fairmount St, Los Angeles, CA 90033
$885,000
2441 Fairmount St, Los Angeles, CA 90033View this property at 2441 Fairmount St, Los Angeles, CA 90033
2441 Fairmount StLos AngelesCA90033
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Property Description
We are pleased to present for sale this excellent investment opportunity in one of LA's most up and coming locations Boyle Heights! This stunning 1930's investment opportunity is a 100% occupied (4) unit building situated on an expansive lot size of 7,003 SF, boasting a robust unit mix of One (3) Bedroom and (1) Bathroom Unit, Two (2) Bedroom and (1) Bath Unit, and One (2) Bedroom and (1) Bath unit. The investment has a strong day 1 return with an 11.17 GRM, 6.01% Cap Rate, and $225K per unit with immense upside potential and provides original charm with select units having original hardwood flooring, balconies, views of DTLA, and abundant parking at the rear of the lot. The subject property is zoned R3-1-CUGU, in a Tier 3 TOC location with alley access - allowing for up to (8) units by right and (15) units with TOC bonuses for future development (Buyer to Verify Feasibility). An astute investor can immediately add value by building additional units or ADU(s). Strategically located just blocks from the famous retail corridor of Cesar Chavez, and blocks to Keck Hospital of USC and USC Health Sciences Campuses, 2441 Fairmount Street is considered "Very Walkable" with a walk score of (89), where most errands can be accomplished on foot, and an "Excellent Transit" score of (73) where transit is convenient for most trips. Disclosure: Buyer to conduct any/all due diligence including but not limited to the building square footage, lot size, legal bedroom/bathroom count, unit mix, year built, zoning, market rents, and the ability to construct an ADU or additional units. DO NOT DISTURB TENANTS OR WALK ON PROPERTY - DRIVE BY ONLY.
Full Property Details
Full Property Details for 2441 Fairmount St
General
- Sold For: $885,000
- Status: Closed
- Type: Multi-Family
- MLS ID: 23-308959
- Added to Site: 248 day(s) ago
Rooms
Bathrooms
- Total Bathrooms: 5
Bedrooms
- Total Bedrooms: 9
Additional Information
- Other Features: None
Parking
- Garage Description: Uncovered, Driveway - Concrete, Parking Space
Location
- Area: Boyle Heights
- County: Los Angeles
- Driving Directions: North on N Soto St, East on Fairmount St
Heating & Cooling
- Cooling Type: Window Unit(s)
- Heating Type: Wall
Structural Information
- # Buildings: 1
- Common Walls: Attached
- Stories/Levels: 2
- Square Feet: 5,822
- Sq. Ft. Source: Assessor
- Year Built: 1930
- Year Built Source: Assessor
Unit Information
- Units in Complex: 4
- Unit Type: 2106, 2107, 2108
Unit 1
- Total Bathrooms: 1
- Bedrooms: 3
Unit 2
- Total Bathrooms: 2
- Bedrooms: 2
Unit 3
- Total Bathrooms: 1
- Bedrooms: 2
Additional Structures
- Other Structures: None
Lot Features
- Property View: City Lights, City
- Lot Size (Acres): 0.1608
- Lot Size: 7003
- Lot Size Source: Assessor
- Alley: Yes
- Zoning: LAR3
Financial Considerations
- Price Per Sq. Ft.: $154.59
- Assessment Year: 1930
Disclosures and Reports
- Disclosures/Reports: As Is
- APN: 5177-015-021
Listed and Sold by Remax Commercial and Investment Realty, Eric Dilanian
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Schools
Schools serving 2441 Fairmount St
School District:Los Angeles Unified School District
Rating | Name | Grades | Distance |
---|---|---|---|
2730 Ganahl St, Los Angeles, CA 90033 | K-6 | 0.3 mi | |
312 N Record Ave, Los Angeles, CA 90023 | 6-8 | 1.5 mi | |
456 S Mathews St, Los Angeles, CA 90033 | 9-12 | 1 mi | |
1200 Plaza Del Sol St, Los Angeles, CA 90033 | 9-12 | 1.4 mi |
Disclaimer: School ratings provided by
GreatSchools. Ratings are on a scale of 1-10.
Learn more about GreatSchools ratings.
School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 2441 Fairmount St
Date
Details
Price
Change
Source
12/08/2023
Sold
$885,000
-1.67%
MLS
9/11/2023
Listed
$900,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
2441 Fairmount St, Los Angeles, CA 90033 (MLS# 23-308959) is a Multi-Family property that was sold at $885,000 on December 08, 2023. Want to learn more about 2441 Fairmount St? Do you have questions about finding other Multi-Family real estate for sale in Los Angeles? You can browse all Los Angeles real estate or contact a Coldwell Banker agent to request more information.