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1215 Fairfax Avenue
Los Angeles, CA 90019
Sold
1215 Fairfax Avenue
Los Angeles, CA 90019
Sold
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
MAP
MORTGAGE CALCULATOR
- Principal & Interest:
- Property Tax: $2,987
- Home Insurance:$119
- HOA Fees:$0
- Mortgage Insurance:
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.
