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1215 Fairfax Avenue

Los Angeles, CA 90019

$2,700,000 Sale Price
Est. Payment: $ 0/mo
10
Bed
0
Bath
8,578 Sq. Ft.
$326 / Sq. Ft.
Sold

1215 Fairfax Avenue

Los Angeles, CA 90019

Sold
$2,700,000 Sale Price
$0/mo
10
Bed
0
Bath
8,578
Sq. Ft.
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,
PROPERTY INFORMATION
MLS # SB23064576 Lot Size 8,255 Sq. Ft.
HOA Fees $0/Monthly Property Type Apartment
Price $ 2,800,000
Price Per SqFt: $ 326
DOM 780 Days
Address 1215 Fairfax Avenue Type Residential Income
City Los Angeles Sq.Ft. 8,578 Sq. Ft.
Postal Code 90019 Garage 8
County Los Angeles Year Built 1950
Bed / Bath 10 / 0 Parking 8
Built In 1950 Status Closed
Sold Date 2023-10-02
INTERIOR FEATURES
Has Laundry Yes
Laundry Information Common Area
EntryLocation Front
Entry Level 1
EXTERIOR FEATURES
Has Pool No
Pool None
WALKSCORE
MORTGAGE CALCULATOR
  • Principal & Interest:
  • Property Tax:   $2,987
  • Home Insurance:$119
  • HOA Fees:$0
  • Mortgage Insurance:


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PRICE HISTORY
Date Event Price
08/08/2023 Price Change (Relisted) $2,800,000 (-7.44%)
06/27/2023 Price Change (Relisted) $3,025,000 (1.68%)
06/09/2023 Relisted $2,975,000
05/30/2023 Price Change (Relisted) $2,975,000 (-9.85%)
05/16/2023 Relisted $3,300,000
05/13/2023 Relisted $3,300,000
04/18/2023 Listed $3,300,000
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Listing provided courtesy of Cameron Samimi, Lyon Stahl Investment Real Estate, Inc.. Based on information from California Regional Multiple Listing Service, Inc. as of #Date#. 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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