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1215 S Fairfax Ave, Los Angeles, CA 90019
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1215 S Fairfax Ave Los Angeles, CA 90019

$2,700,000 Sold Price as of 10/02/2023
  • 10 Beds
  • 12 Baths
  • 8,578 Sq.Ft.
Sold
$2,700,000 Sold Price as of 10/02/2023 Refinance Your Mortgage
Map preview of 1215 S Fairfax Ave, Los Angeles, CA 90019

Property Overview: 1215 S Fairfax Ave Los Angeles, CA has 10 bedrooms, 12 bathrooms, 8,578 living square feet and 8,255 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: SELLER FINANCING AVAILABLE!!! Yes, the seller will carry the debt at 4% interest only with $1.2M down on this asset for three years. Very rare to find an asset like this in Carthay, the most desired pocket of Los Angeles. You will not find a better price/unit or price/sf in the area. Due to location, this is a perfect asset to TIC and sell off as individual TIC homes with a total sales price of $7,200,000. You cannot find a better deal than this. To learn more please see exit TIC SALE proforma on page 14 of the OM. 1215 S Fairfax Ave is a 12 unit trophy asset located in an A+ area. The subject property is priced at only $233k/unit and has over 100% upside in rents. Once rented for market, 1215 S Fairfax will operate at a 10.44% CAP and 7.44 GRM. This is the ideal opportunity for any value-add investor looking for major upside in a top-tier location. 1215 S Fairfax is comprised of (10) 1Bed+1Bath and (2) Studio+1Bath units. Due to its location, the subject property demands high rents, beneficial to any new buyer. There are (4) 2 car garages located in the rear alley way, as well as plenty of street and permitted parking. There is also a shared laundry room on site. Located just minutes away from many shops, restaurants and other entertainment- this is a renter's dream! With a 91 walk score, this property is considered a walker's paradise,

Listed by Cameron Samimi | BRE #02035763 | Lyon Stahl Investment Real Estate, Inc.
Last checked: 3 minutes ago | Last updated: October 2nd, 2023 | Source CRMLS | DOM: 153

Home details

Lot Sq. Ft
8,255
HOA Dues
$0/mo
Year built
1950
Garage
8 Car
Property Type:
Apartment
Status
Sold
MLS#
SB23064576
City
Los Angeles
County
Los Angeles
Time on Site
472 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 12
  • Total # of Buildings: 1
  • # of Electric Meters: 12
  • # of Gas Meters: 12
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Actual Rent: $1,086
  • Total Rent: $1,086
  • Pro Forma/Market Rent: $2,700
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Actual Rent: $1,668
  • Total Rent: $1,668
  • Pro Forma/Market Rent: $2,600
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Actual Rent: $1,000
  • Total Rent: $1,000
  • Pro Forma/Market Rent: $2,800
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 0
  • # of Baths: 1
  • Actual Rent: $1,172
  • Total Rent: $1,172
  • Pro Forma/Market Rent: $2,200
Unit Breakdown 5
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Actual Rent: $952
  • Total Rent: $952
  • Pro Forma/Market Rent: $2,600
Unit Breakdown 6
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Actual Rent: $2,450
  • Total Rent: $2,450
  • Pro Forma/Market Rent: $2,450
Unit Breakdown 7
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Actual Rent: $924
  • Total Rent: $924
  • Pro Forma/Market Rent: $2,550
Unit Breakdown 8
  • # of Units: 1
  • # of Beds: 0
  • # of Baths: 1
  • Actual Rent: $1,049
  • Total Rent: $1,049
  • Pro Forma/Market Rent: $2,200
Unit Breakdown 9
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Actual Rent: $1,095
  • Total Rent: $1,095
  • Pro Forma/Market Rent: $2,550
Unit Breakdown 10
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Actual Rent: $1,048
  • Total Rent: $1,048
  • Pro Forma/Market Rent: $2,800
Unit Breakdown 11
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Actual Rent: $1,672
  • Total Rent: $1,672
  • Pro Forma/Market Rent: $2,800
Unit Breakdown 12
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Actual Rent: $1,532
  • Total Rent: $1,532
  • Pro Forma/Market Rent: $2,800
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 4.08%
  • Gross Rent Multiplier: 14.54
  • Gross Scheduled Income: $192,576
  • Net Operating Income: $114,309
  • Gross Operating Income: --
Annual Expense Breakdown
  • Total Operating Expense: $72,489
  • Electric: $0
  • Gas/Fuel: $0
  • Trash: $0
  • Insurance: $0
  • Professional Management: $0
  • Water/Sewer: $0

Property Details for 1215 S Fairfax Ave

Interior Features
Laundry Information
  • Has Laundry
  • Common Area
Exterior Features
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Garage Spaces: 8
  • # of Parking Spaces: 8
Lot Information
  • Lot Features: 0-1 Unit/Acre
  • Lot Size Source: Assessor
  • Common Interest: Community Apartment
Property Information
  • Common Walls: 2+ Common Walls
  • Total # of Units: 12
  • Parcel Number: 5086003003
  • Year Built Source: Assessor
  • Entry Level: 1
  • Property is Attached
Homeowners Association, Utilities, Taxes / Assessments
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
Location / Neighborhood
Location Information
  • Directions: On Fairfax Ave, Off Pico Blvd
Neighborhood Information
  • Community Features: Biking, Curbs, Dog Park, Golf, Hiking, Park, Urban
View more facts & features

Local Los Angeles Agent

Sale History for 1215 S Fairfax Ave

Last sold for $2,700,000 on October 2nd, 2023

  • October, 2023

  • Oct 2, 2023

    Date

    Sold

    CRMLS: SB23064576

    $2,700,000

    Price

  • Apr 25, 2023

    Date

    Active

    CRMLS: SB23064576

    $3,300,000

    Price

  • February, 2004

  • Feb 4, 2004

    Date

    Sold (Public Records)

    Public Records

    --

    Price

Show More

Tax History for 1215 S Fairfax Ave

Assessed Value (2020): $1,235,157
Year Land Value Improved Value Assessed Value
2020 $1,105,037 $130,120 $1,235,157

Home Value Compared to the Market

This property vs the competition

1215 S Fairfax Ave sold on October 2, 2023 for 150% higher than the current median sold price for the city of Los Angeles which is $1,120,000. The median sold price per/sqft for Los Angeles is $724 and this home is sold at $326.42 per/sqft which puts the price per square foot 54.91% lower than the current median sale per square foot for the city of Los Angeles.

About 1215 S Fairfax Ave

Detailed summary of property

1215 S Fairfax Ave is a apartment that recently sold in Los Angeles, CA 90019. This apartment offered 10 bedrooms, 12 bathrooms, roughly 8,578 living square feet, and sits on an approximately 8,255 square foot lot. 1215 S Fairfax Ave was first listed on ArdentRealEstateGroup.com on June 5, 2023. The homeowner sold the property for $2,700,000. Home in Los Angeles are selling for a median price of $1,120,000 and a median price per square foot of $724. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is sold 150% higher than the current median priced home. Local homes that are currently for sale include 1526 S Wooster St, 1226 Meadowbrook Ave and 8218 Blackburn Ave. While the average home in Los Angeles, CA is selling in 106 days, 1215 S Fairfax Ave has a days on market of 153 days. There are currently 4052 homes for sale in the Los Angeles real estate market and 2782 of them are single family homes while 1148 of them are condos and 116 are townhomes. For more information on this home for sale at 1215 S Fairfax Ave Los Angeles, CA 90019 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 1215 S Fairfax Ave

Public county record property details
Beds
10
Baths
12
Year built
1950
Sq. Ft.
8,578
Lot Size
8,254
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
65-67
APN
5086-003-003

The source for these homes facts are from public records.

90019 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$1,450,000
Median List Price/Sq.Ft.
$703
Median Sold Price
$1,277,500
Median Sold Price/Sq.Ft.
$715
Total Inventory
95
Median Sale to List Price %
98.65%
Avg Days on Market
29
Loan Type
Conventional (0%), FHA (0%), VA (0%), Cash (0%), Other (20%)

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Based on information from California Regional Multiple Listing Service, Inc. as of 2019. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

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