535 W 41ST STREET.
Los Angeles, CA 90037 · APN 5019-023-029
UNITS
32
BUILDING SF
28,917
SF / UNIT
904
YEAR BUILT
2011
BEDROOMS
32
BATHROOMS
32
USE · CODE 0500
5+ UNITS
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PROP 13 ASSESSED VALUES, USUALLY WELL BELOW MARKET ON LONG-HELD BUILDINGS.
No market sale detected on this parcel since 2021. The last recorded transfer may have been a refinance, trust move, or family transfer that didn't reset the Prop 13 base.
LIKELY EXEMPT (NEW CONSTRUCTION)
Built 2011, inside the City of Los Angeles. Buildings under 15 years old are exempt from AB 1482, and construction after 1 October 1978 is outside the RSO. The state cap applies once the building turns 15.
Estimated sales nearby.
SALE DATES ARE RECORDED TRANSFERS; THE NEWEST HERE IS DEC 31, 2024.
PRICES ESTIMATED FROM ASSESSOR REASSESSMENT AT SALE (ASSESSED VALUE DEFLATED 2%/YR), NOT VERIFIED CLOSING PRICES.
Buildings like this one.
SIMILAR SIZE AND ERA IN 90037
This building sits in South Los Angeles.
ESTIMATED SALES, MEDIAN $/UNIT AND $/SF, RENT-CONTROL COVERAGE →
The short answers.
Is 535 W 41st Street rent controlled?
Built 2011, inside the City of Los Angeles. Buildings under 15 years old are exempt from AB 1482, and construction after 1 October 1978 is outside the RSO. The state cap applies once the building turns 15. 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 535 W 41st Street have?
County records list 32 units at 535 W 41st Street, classified as 5+ units across 28,917 square feet of building area, averaging about 904 square feet per unit. Unit counts on the roll can lag permitted conversions and unpermitted additions in both directions.
When was 535 W 41st Street built?
The assessor roll gives a build year of 2011, which is after the 1 October 1978 RSO cutoff. The ordinance turns on the certificate of occupancy rather than the roll's build year, so a building finished either side of that date is worth confirming with LAHD. Age drives more than character here. It sets rent-cap exposure, seismic retrofit obligations, and what a lender will underwrite.
When did 535 W 41st Street last change hands?
The most recent transfer on the roll was recorded September 2009. Not every recorded transfer is a market sale: refinances, trust transfers, and family conveyances all appear in the same field, and those do not reset the assessed value.
What is 535 W 41st Street assessed at, and is that what it is worth?
The current assessed value is $9,681,182 ($3,227,057 land, $6,454,125 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, and this one has held its base year for roughly 16 years.
Would the owner of 535 W 41st Street face a big tax bill on a sale?
Possibly. A base year going back roughly 16 years usually means a long hold and a low tax basis, and a low basis means a large taxable gain on a straight sale: capital gains plus depreciation recapture, with California taxing gains at ordinary income rates. The base year is not proof of when the current owner bought, though: a building inherited from a parent before Proposition 19 took effect in February 2021 could keep the old base year while its tax basis was stepped up at death. Long-held buildings also often sell through a 1031 exchange, or pass through an estate for the step-up in basis.
What is the South Los Angeles apartment market doing?
535 W 41st Street sits in South Los Angeles, in Los Angeles. Sale counts, median price per unit and median price per square foot for the submarket are estimated from county assessor reassessments at sale, not verified closing prices, and are published with the share of rent-control-era stock on the South Los Angeles market page. See that page for the figures rather than a number quoted here.
How do I find out what 535 W 41st Street 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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