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651 N Fairfax Ave, Los Angeles, CA 90036
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651 N Fairfax Ave Los Angeles, CA 90036

$6,399,000
  • -- Beds
  • -- Baths
  • 9,480 Sq.Ft.
For Sale
$6,399,000 Get Pre-Qualified
Map preview of 651 N Fairfax Ave, Los Angeles, CA 90036

Property Overview: 651 N Fairfax Ave Los Angeles, CA has -- bedrooms, -- bathrooms, 9,480 living square feet and 9,940 square feet lot size. Call an Ardent Real Estate Group agent to verify current availability of this home or with any questions you may have.

Agent Remarks: Discover an unparalleled investment opportunity in the heart of Los Angeles with this prime commercial property on Fairfax Avenue. Located in a thriving neighborhood known for its dynamic growth and cultural significance, this offering presents the potential to transform two contiguous lots into a development masterpiece. Key Features: Prime Location: Situated in a highly sought-after area, this property enjoys proximity to vibrant dining, shopping, and cultural hotspots. The surrounding community has seen significant growth, making it a desirable destination for both residents and businesses. Development Potential: This unique property consists of two lots side by side, providing ample space for a visionary developer to create a substantial residential complex. Potential to build up to 52 units, catering to the strong demand for housing in the area. Buyer to verify and due their own due diligence. Nearby Developments: The area has witnessed a surge in new apartment developments, making this property a strategic addition to the evolving urban landscape. It aligns perfectly with the ongoing transformation of Fairfax Avenue. Investor's Dream: Savvy investors and developers will recognize the tremendous value and growth potential that this property offers. Take advantage of the opportunity to shape the future of this dynamic neighborhood. Accessibility: Convenient access to major transportation routes and public transit ensures ease of commute for future residents, further enhancing the appeal of this location. Investment Potential:Whether you're an experienced developer looking for your next project or an owner-user with a grand vision, 649-651 N Fairfax represents an exceptional opportunity to contribute to the renaissance of this iconic neighborhood. Seize this chance to be at the forefront of progress and innovation. Contact us today to explore the possibilities, discuss plans, and take the first step toward creating a lasting legacy on Fairfax Avenue.

Listed by George Kpachavi | BRE #01839703 | Keller Williams Realty-Studio City
Last checked: 10 minutes ago | Last updated: March 20th, 2024 | Source CRMLS | DOM: 226
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Home details

Lot Sq. Ft
9,940
HOA Dues
$0/mo
Year built
1951
Garage
--
Property Type:
Retail
Status
Active
MLS#
SR23165763
City
Los Angeles
County
Los Angeles
Time on Site
235 days
Property Unit Breakdown
Unit Mix Summary
  • Total # of Units: --
  • Total # of Buildings: --
Property Income/Expense Information
Property Income and Analysis
  • Gross Rent Multiplier: --
  • Gross Scheduled Income: --
  • Net Operating Income: --
  • Gross Operating Income: --
Annual Expense Breakdown
  • Total Operating Expense: --

Open Houses for 651 N Fairfax Ave

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Property Details for 651 N Fairfax Ave

Interior Features
Laundry Information
  • None
Lot Details / Garage and Parking
Lot Information
  • Lot Features: 0-1 Unit/Acre
  • Common Interest: None
Property Information
  • Parcel Number: 5527017002
  • Year Built Source: Public Records
  • Entry Level: 1
Homeowners Association, Utilities, Taxes / Assessments
Utilities Information
  • Water Source: Public
Location / Neighborhood
Location Information
  • Directions: Melrose to Fairfax
View more facts & features

Local Los Angeles Agent

Sale History for 651 N Fairfax Ave

Last sold on September 15th, 2000

  • September, 2023

  • Sep 5, 2023

    Date

    Active

    CRMLS: SR23165763

    $6,800,000

    Price

  • September, 2000

  • Sep 15, 2000

    Date

    Sold (Public Records)

    Public Records

    --

    Price

  • May, 1997

  • May 29, 1997

    Date

    Sold (Public Records)

    Public Records

    --

    Price

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Tax History for 651 N Fairfax Ave

Assessed Value (2020): $1,515,591
Year Land Value Improved Value Assessed Value
2020 $826,687 $688,904 $1,515,591

Home Value Compared to the Market

This property vs the competition

651 N Fairfax Ave is listed 412.33% higher than the median list price for the city of Los Angeles which has a median list price of $1,249,000. The median price per/sqft for Los Angeles is $772 and this home is listed at $675 per/sqft which puts the price per square foot 12.56% lower than the median price per square foot for the city of Los Angeles.

About 651 N Fairfax Ave

Detailed summary of property

651 N Fairfax Ave is a retail located in Los Angeles, CA 90036 and is currently for sale. This retail property offers -- bedrooms, -- bathrooms, roughly 9,480 living square feet, and sits on an approximately 9,940 square foot lot. 651 N Fairfax Ave was first listed on ArdentRealEstateGroup.com on September 5, 2023. The homeowner is currently asking $6,399,000 and was originally asking $6,800,000. The median priced home in Los Angeles is $1,249,000 with a median price per square foot of $772. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is listed 412.33% higher than the median priced home. While the average home in Los Angeles, CA is selling in 97 days, 651 N Fairfax Ave has a days on market of 226 days. There are currently 3429 homes for sale in the Los Angeles real estate market and 2324 of them are single family homes while 1008 of them are condos and 91 are townhomes. For more information on this home for sale at 651 N Fairfax Ave Los Angeles, CA 90036 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 651 N Fairfax Ave

Public county record property details
Beds
--
Baths
--
Year built
1951
Sq. Ft.
9,480
Lot Size
9,939
Stories
1
Type
Store/Office (Mixed Use)
Pool
No
Spa
No
County
Los Angeles
Lot#
4,5
APN
5527-017-002

The source for these homes facts are from public records.

90036 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$1,998,000
Median List Price/Sq.Ft.
$883
Median Sold Price
$742,090
Median Sold Price/Sq.Ft.
$783
Total Inventory
52
Median Sale to List Price %
99.08%
Avg Days on Market
35
Loan Type
Conventional (25%), FHA (0%), VA (0%), Cash (0%), Other (0%)

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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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