5151 3RD AVE.
Los Angeles, CA 90043 · APN 5014-025-002
UNITS
3
BUILDING SF
2,398
SF / UNIT
799
YEAR BUILT
1922
BEDROOMS
4
BATHROOMS
3
USE · CODE 0300
TRIPLEX
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PROP 13 ASSESSED VALUES, USUALLY WELL BELOW MARKET ON LONG-HELD BUILDINGS.
PRICE ESTIMATED FROM ASSESSOR REASSESSMENT AT SALE, NOT A VERIFIED CLOSING PRICE.
LIKELY COVERED BY LA RSO
Built 1922 in the City of Los Angeles with 3 units. Multifamily inside city limits whose certificate of occupancy was issued on or before 1 October 1978 is generally under the Rent Stabilization Ordinance, which caps annual increases and restricts evictions to specific just causes. The roll carries a year built rather than that certificate date, so a building finished in late 1978 can fall either side of the line. Confirm the address with LAHD.
Recent sales nearby.
PRICES ESTIMATED FROM ASSESSOR REASSESSMENT AT SALE (ASSESSED VALUE DEFLATED 2%/YR), NOT VERIFIED CLOSING PRICES.
Buildings like this one.
ON 3RD AVE · ZIP 90043
SIMILAR SIZE AND ERA IN 90043
The short answers.
Is 5151 3rd Ave rent controlled?
Built 1922 in the City of Los Angeles with 3 units. Multifamily inside city limits whose certificate of occupancy was issued on or before 1 October 1978 is generally under the Rent Stabilization Ordinance, which caps annual increases and restricts evictions to specific just causes. The roll carries a year built rather than that certificate date, so a building finished in late 1978 can fall either side of the line. Confirm the address with LAHD. This is an inference from public assessor records, not a determination. Confirm the certificate of occupancy date with the LA Housing Department or ZIMAS before you rely on it for pricing or notices.
How many units does 5151 3rd Ave have?
County records list 3 units at 5151 3rd Ave, classified as triplex across 2,398 square feet of building area, averaging about 799 square feet per unit. Unit counts on the roll can lag permitted conversions and unpermitted additions in both directions.
When was 5151 3rd Ave built?
The assessor roll gives a build year of 1922, which puts it in the stock old enough for the LA Rent Stabilization Ordinance to reach it, where the building sits inside City of Los Angeles limits. Age drives more than character here. It sets rent-cap exposure, seismic retrofit obligations, and what a lender will underwrite.
When did 5151 3rd Ave last sell, and for how much?
The last recorded transfer was November 2023, at an estimated $958,999, about $319,666 per unit. That price is estimated from the Proposition 13 reassessment recorded at sale, not a verified closing price, so treat it as a close approximation rather than a confirmed figure.
What is 5151 3rd Ave assessed at, and is that what it is worth?
The current assessed value is $997,743 ($780,300 land, $217,443 improvements). Assessed value is not market value. Under Proposition 13 it resets only on a change of ownership and then climbs about 2% a year, so a long-held building is often assessed far below what it would trade for.
How do I find out what 5151 3rd Ave would sell for today?
Public records give you the frame, units, size, age, assessed value, and when it last traded, but pricing needs in-place rents, expenses, and the condition of the units, none of which appear in county data. A broker valuation puts closed comps and a rent survey against the actual rent roll. Shaya Lowenstein does that free for LA multifamily owners, typically within 48 hours, with no obligation to list.
Leave an email and I'll come back with what it is worth and whether the owner is likely to trade. It does not have to be for sale, and it does not have to be my listing.
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