3134 Fairmount Street, Los Angeles, California 90063, Los Angeles, 90063 - bed, bath
ACTIVE$479,900
3134 Fairmount Street, Los Angeles, California 90063
0Bed
0Bath
1,522Sqft
5,200Lot
Year Built
1922
Close
-
List price
$480K
Original List price
$480K
Price/Sqft
$315
HOA
-
Days on market
-
Sold On
-
MLS number
PW23137980
Home ConditionTear down
Features
View-
About this home
We found 3 Cons,5 Pros. Rank: price - $479.9K(12th), sqft - 1522(28th), beds - undefined(50th), baths - undefined(50th).
Two unit located at 3134 Fairmount St in the heart of Los Angeles. Though currently condemned by the city due to a partial fire incident in the front unit, this distressed property brims with potential. With the front unit requiring reconstruction, there's a chance to design and build from the ground up, tailoring the property to suit your desires and contemporary living needs. The back unit will be delivered with the tenant in place.
Nearby schools
4/10
Malabar Street Elementary School
Public,•K-6•0.2mi
4/10
Evergreen Avenue Elementary School
Public,•K-6•0.4mi
3/10
Harrison Street Elementary School
Public,•K-6•0.6mi
2/10
First Street Elementary School
Public,•K-6•0.7mi
3/10
Sheridan Street Elementary School
Public,•K-6•0.8mi
2/10
Murchison Street Elementary School
Public,•K-6•0.8mi
3/10
Belvedere Elementary School
Public,•K-5•0.9mi
4/10
Breed Street Elementary School
Public,•K-6•1.2mi
5/10
Euclid Avenue Elementary School
Public,•K-5•1.3mi
4/10
Second Street Elementary School
Public,•K-6•1.3mi
4/10
Bridge Street Elementary School
Public,•K-5•1.3mi
5/10
Rowan Avenue Elementary School
Public,•K-5•1.4mi
5/10
Sunrise Elementary School
Public,•K-6•1.6mi
2/10
Lorena Street Elementary School
Public,•K-5•1.6mi
/10
Amanecer Primary Center
Public,•K-2•1.6mi
4/10
Soto Street Elementary School
Public,•K-6•1.7mi
4/10
Griffin Avenue Elementary School
Public,•K-5•1.8mi
4/10
Gates Street Elementary School
Public,•K-5•1.8mi
4/10
Christopher Dena Elementary School
Public,•K-6•2.0mi
5/10
Eastman Avenue Elementary School
Public,•K-5•2.0mi
/10
Garza (Carmen Lomas) Primary Center
Public,•K-2•2.1mi
3/10
Albion Street Elementary School
Public,•K-6•2.2mi
3/10
Ann Street Elementary School
Public,•K-6•2.4mi
5/10
Ninth Street School
Public,•K-5•3.1mi
4/10
Belvedere Middle School
Public,•6-8•0.9mi
6/10
Hollenbeck Middle School
Public,•6-8•1.3mi
3/10
Robert Louis Stevenson Middle School
Public,•6-8•1.5mi
4/10
Utah Street Elementary School
Public,•K-8•1.7mi
5/10
El Sereno Middle School
Public,•6-8•2.4mi
5/10
Florence Nightingale Middle School
Public,•6-8•3.1mi
6/10
Vernon City Elementary School
Public,•K-7•3.7mi
4/10
Chester W. Nimitz Middle School
Public,•6-8•4.2mi
3/10
Henry T. Gage Middle School
Public,•6-8•4.8mi
3/10
Theodore Roosevelt Senior High
Public,•9-12•1.1mi
5/10
STEM Academy of Boyle Heights HS
Public,•9-12•1.2mi
4/10
Woodrow Wilson Senior High School
Public,•9-12•1.7mi
5/10
Abraham Lincoln Senior High School
Public,•9-12•1.9mi
5/10
Felicitas And Gonzalo Mendez High
Public,•9-12•1.9mi
7/10
James A. Garfield Senior High School
Public,•9-12•2.6mi
4/10
Huntington Park Senior High School
Public,•9-12•4.4mi
5/10
Maywood Academy High
Public,•9-12•4.5mi
5/10
Bell Senior High School
Public,•9-12•5.0mi
4/10
Elizabeth Learning Center
Public,•K-12•5.9mi
Price History
Date
Event
Price
07/26/23
Listing
$479,900
Condition Rating
Tear down
The property, built in 1922, is explicitly described as 'distressed' and the front unit is 'condemned by the city due to a partial fire incident,' requiring 'reconstruction.' The images clearly show extensive fire damage, charred structural elements, boarded-up windows, and severe general disrepair on both units. While the back unit is tenant-occupied, the overall condition of the property, particularly the condemned front unit, indicates it is largely unlivable in its current state and its value is primarily in the land and redevelopment potential. There are no visible kitchens or bathrooms, but the overall structural damage suggests any existing interior components would be beyond repair.
Pros & Cons
Pros
Income-Generating Property Type: The property is a duplex, offering the potential for residential income from two separate units.
Prime Los Angeles Location: Situated in the heart of Los Angeles, specifically in the Boyle Heights area, which offers strong rental demand and potential for appreciation.
Significant Redevelopment Potential: The condemned front unit presents a unique opportunity to design and rebuild from the ground up, allowing for customization and value addition.
Relatively Large Lot Size: With a 5200 sqft lot, there is ample space for potential expansion, landscaping, or additional amenities, which is valuable in an urban setting.
Attractive Entry Price Point: The list price of $479,900 is a relatively low entry point for a multi-unit property in Los Angeles, especially considering the redevelopment upside.
Cons
Condemned Status & Fire Damage: The front unit is condemned by the city due to a partial fire incident, requiring extensive reconstruction, significant capital investment, and navigating regulatory hurdles.
Existing Tenant in Back Unit: The back unit will be delivered with a tenant in place, which may complicate immediate full property redevelopment plans, limit owner-occupancy options, and affect renovation timelines.
Distressed Property Condition: Explicitly described as a 'distressed property,' indicating that significant repairs, updates, and capital expenditures will likely be required beyond just the fire-damaged unit.