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1824 Fairburn Ave, Los Angeles, CA 90025
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1824 Fairburn Ave Los Angeles, CA 90025

$5,000,000 Sold Price as of 10/13/2022
  • 16 Beds
  • 17 Baths
  • 11,593 Sq.Ft.
Sold
$5,000,000 Sold Price as of 10/13/2022 Refinance Your Mortgage
Map preview of 1824 Fairburn Ave, Los Angeles, CA 90025

Property Overview: 1824 Fairburn Ave Los Angeles, CA has 16 bedrooms, 17 bathrooms, 11,593 living square feet and 7,562 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: Located in one of the most favorable neighborhoods of Los Angeles, the 9-unit 3-story, 1824 Fairburn Avenue, represents a highly desirable investment opportunity. Just 0.5 miles away from the infamous Westfield Century City Mall, 1824 Fairburn Avenue's location, quiet residential surroundings, and tenant amenities differentiates it amongst others. The offering contains a lot size of 7,562 square feet and a building size of over 11,500 square feet. This property offers its tenants charming large floorplans, exclusive balconies, an expansive rooftop deck, on-site parking, in-unit laundry, and much more. This marking the first time the original ownership is listing this property for sale, 1824 Fairburn Avenue embodies meticulous management and pristine conditions. This investment opportunity is well suited to provide investors with healthy returns and long-term appreciation potential. Much opportunity lies in this property; including the possibility of converting the leasing office into an additional residential unit, through the state's favorable Attached Accessory Dwelling Unit (ADU) Program - Permits have been submitted by current ownership and are close to RTI status.

Listed by Sean Rosenzweig | BRE #01406343 | Marcus & Millichap
Last checked: 22 minutes ago | Last updated: October 18th, 2022 | Source CRMLS | DOM: 46

Home details

Lot Sq. Ft
7,562
HOA Dues
$0/mo
Year built
1966
Garage
--
Property Type:
Multi Family
Status
Sold
MLS#
22181808
City
Los Angeles
County
Los Angeles
Time on Site
703 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 9
  • Total # of Buildings: 1
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 2
  • Furnishing: Unfurnished
  • Actual Rent: $3,000
  • Total Rent: $3,300
  • Pro Forma/Market Rent: $3,800
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 2
  • Furnishing: Unfurnished
  • Actual Rent: $3,800
  • Total Rent: $3,800
  • Pro Forma/Market Rent: $3,800
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 2
  • Furnishing: Unfurnished
  • Actual Rent: $2,204
  • Total Rent: $2,204
  • Pro Forma/Market Rent: $3,800
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 2
  • Furnishing: Unfurnished
  • Actual Rent: $2,606
  • Total Rent: $2,606
  • Pro Forma/Market Rent: $3,800
Unit Breakdown 5
  • # of Units: 1
  • # of Beds: 0
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,144
  • Total Rent: $1,144
  • Pro Forma/Market Rent: $1,800
Unit Breakdown 6
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 2
  • Furnishing: Unfurnished
  • Actual Rent: $3,300
  • Total Rent: $3,300
  • Pro Forma/Market Rent: $3,800
Unit Breakdown 7
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 2
  • Furnishing: Unfurnished
  • Actual Rent: $3,151
  • Total Rent: $3,151
  • Pro Forma/Market Rent: $4,250
Unit Breakdown 8
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 2
  • Furnishing: Unfurnished
  • Actual Rent: $3,300
  • Total Rent: $3,300
  • Pro Forma/Market Rent: $4,250
Unit Breakdown 9
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 2
  • Furnishing: Unfurnished
  • Actual Rent: $2,950
  • Total Rent: $2,950
  • Pro Forma/Market Rent: $3,800
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 4.08%
  • Gross Rent Multiplier: 15.8
  • Gross Scheduled Income: --
  • Net Operating Income: $214,436
  • Gross Operating Income: $323,032
Annual Expense Breakdown
  • Total Operating Expense: --

Property Details for 1824 Fairburn Ave

Lot Details / Garage and Parking
Parking/Garage Information
  • # of Parking Spaces: 9
  • Has Parking
  • Parking Features: Covered
Lot Information
  • Lot Size Source: Assessor
Property Information
  • Total # of Units: 9
  • Parcel Number: 4317003008
  • Year Built Source: Assessor
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Location / Neighborhood
Location Information
  • Directions: South of Santa Monica Boulevard, East of Fairburn Avenue, Walking Distance to Westfield Century City
View more facts & features

Local Los Angeles Agent

Sale History for 1824 Fairburn Ave

Last sold for $5,000,000 on October 13th, 2022

  • October, 2022

  • Oct 13, 2022

    Date

    Sold

    CRMLS: 22181808

    $5,000,000

    Price

  • Jul 22, 2022

    Date

    Active

    CRMLS: 22181808

    $5,450,000

    Price

  • March, 2004

  • Mar 19, 2004

    Date

    Sold (Public Records)

    Public Records

    --

    Price

Show More

Tax History for 1824 Fairburn Ave

Assessed Value (2020): $485,756
Year Land Value Improved Value Assessed Value
2020 $120,585 $365,171 $485,756

Home Value Compared to the Market

This property vs the competition

1824 Fairburn Ave sold on October 13, 2022 for 364.6% higher than the current median sold price for the city of Los Angeles which is $1,130,000. The median sold price per/sqft for Los Angeles is $754 and this home is sold at $452.86 per/sqft which puts the price per square foot 39.94% lower than the current median sale per square foot for the city of Los Angeles.

About 1824 Fairburn Ave

Detailed summary of property

1824 Fairburn Ave is a multi family that recently sold in Los Angeles, CA 90025. This multi family property offered 16 bedrooms, 17 bathrooms, roughly 11,593 living square feet, and sits on an approximately 7,562 square foot lot. 1824 Fairburn Ave was first listed on ArdentRealEstateGroup.com on July 26, 2022. The homeowner sold the property for $5,000,000. Home in Los Angeles are selling for a median price of $1,130,000 and a median price per square foot of $754. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is sold 364.6% higher than the current median priced home. Local homes that are currently for sale include 1005 N Croft Ave, 1009 N Croft Ave and 1015 N Croft Ave. While the average home in Los Angeles, CA is selling in 99 days, 1824 Fairburn Ave has a days on market of 46 days. There are currently 3982 homes for sale in the Los Angeles real estate market and 2673 of them are single family homes while 1195 of them are condos and 107 are townhomes. For more information on this home for sale at 1824 Fairburn Ave Los Angeles, CA 90025 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 1824 Fairburn Ave

Public county record property details
Beds
16
Baths
17
Year built
1966
Sq. Ft.
11,593
Lot Size
7,562
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
9
APN
4317-003-008

The source for these homes facts are from public records.

90025 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$1,229,000
Median List Price/Sq.Ft.
$738
Median Sold Price
$1,100,000
Median Sold Price/Sq.Ft.
$758
Total Inventory
113
Median Sale to List Price %
111.22%
Avg Days on Market
30
Loan Type
Conventional (11.11%), FHA (3.7%), VA (0%), Cash (3.7%), Other (7.41%)

Thinking of Selling?

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(714) 706-1823

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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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