NOT LISTED FOR SALE

1215 S Fairfax Ave Los Angeles, CA 90019

Carthay Neighborhood
9 Beds
10 Baths
8,578 Sq Ft
8,255 Sq Ft Lot

Last Sold October 02, 2023

Last sale price $2,700,000 $315 Per Sq Ft

159 Days on Market

Highlights

  • Golf Course Community
  • Hiking Trails
  • Laundry Room
  • Carthay Center Elementary School Rated 9+
  • Park

About This Home

As of October 2023

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

Last Agent to Sell the Property

Cameron Samimi

Lyon Stahl Investment Real Estate, Inc. License #02035763 Listed on: 04/25/2023

Lyon Stahl Investment Real Estate, Inc.

Last Buyer's Agent

Cameron Samimi

Lyon Stahl Investment Real Estate, Inc. License #02035763 Listed on: 04/25/2023

Lyon Stahl Investment Real Estate, Inc.

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1950

Lot Details

  • 8,255 Sq Ft Lot
  • Two or More Common Walls
  • Density is up to 1 Unit/Acre

Parking

  • 8 Car Garage

Home Design

  • Apartment

Interior Spaces

  • 8,578 Sq Ft Home
  • 2-Story Property
  • Laundry Room

Bedrooms and Bathrooms

  • 9 Bedrooms
  • 10 Bathrooms

Location

  • Urban Location

Listing and Financial Details

  • Tax Lot 67
  • Tax Tract Number 7603
  • Assessor Parcel Number 5086003003

Community Details

Recreation

  • Golf Course Community
  • Park
  • Dog Park
  • Hiking Trails
  • Bike Trail

Building Details

  • Rent Control
  • 12 Separate Electric Meters
  • 12 Separate Gas Meters
  • 1 Separate Water Meter
  • Operating Expense $72,489
  • Gross Income $192,576
  • Net Operating Income $114,309

Additional Features

  • 12 Units
  • Laundry Facilities

Property Details

Home Type

Multi-Family

Year Built

Built in 1950

Lot Details

0

Parking

8

Listing Details

  • CapRate: 4.08
  • Price Per Unit: 233333
  • Property Attached: Yes
  • Zoning: LAR3
  • Property Sub Type: Apartment
  • Property Type: Residential Income
  • Parcel Number: 5086003003
  • Year Built: 1950
  • Special Features: None

Interior Features

  • Stories: 2
  • Entry Location: Front
  • Common Walls: 2+ Common Walls
  • Entry Level: 1
  • Price Per Square Foot: 314.76

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 8.00
  • Total Parking Spaces: 8.00

Utilities

  • Laundry: Yes
  • Laundry Features: Common Area
  • Sewer: Public Sewer
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Common Interest: Community Apartment
  • Community Features: Biking, Curbs, Dog Park, Golf, Hiking, Park, Urban

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 0-1 Unit/Acre
  • Lot Size Sq Ft: 8255.00
  • Lot Size Acres: 0.1895

Multi Family

  • Gross Income: 192576.00
  • Gross Multiplier: 14.54
  • Gross Scheduled Income: 192576.00
  • Lot Size Area: 8255.0000 Square Feet
  • Net Operating Income: 114309.00
  • Number Of Separate Electric Meters: 12
  • Number Of Separate Gas Meters: 12
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 12
  • Operating Expense: 72489.00
  • Rent Control: Yes
  • Total Expenses: 72489.00

Tax Info

  • Tax Census Tract: 2168.00
  • Tax Lot: 67
  • Tax Tract Number: 7603

Range of Values:

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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price Change Sq Ft Price
10/02/2023 10/02/23 Sold $2,700,000 -3.6% $315 / Sq Ft
08/08/2023 08/08/23 Price Changed $2,800,000 -7.4% $326 / Sq Ft
06/27/2023 06/27/23 Price Changed $3,025,000 +1.7% $353 / Sq Ft
06/09/2023 06/09/23 For Sale $2,975,000 +10.2% $347 / Sq Ft
06/07/2023 06/07/23 Off Market $2,700,000 -- --
05/30/2023 05/30/23 Price Changed $2,975,000 -9.8% $347 / Sq Ft
05/16/2023 05/16/23 For Sale $3,300,000 +22.2% $385 / Sq Ft
05/13/2023 05/13/23 Off Market $2,700,000 -- --
05/13/2023 05/13/23 For Sale $3,300,000 +22.2% $385 / Sq Ft
05/11/2023 05/11/23 Off Market $2,700,000 -- --
04/25/2023 04/25/23 For Sale $3,300,000 -- $385 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Cameron Samimi

    Seller's Agent in 2023

    Cameron Samimi

    Lyon Stahl Investment Real Estate, Inc.

    (310) 259-7556

    1 in this area

    187 Total Sales

    Cameron Samimi
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: SB23064576

California Regional Multiple Listing Service (CRMLS)
California Los Angeles County Los Angeles 90019 Carthay

1215 S Fairfax Ave, Los Angeles, CA

This home is located at 1215 S Fairfax Ave, Los Angeles, CA 90019 since 25 April 2023. This property was built in 1950. 1215 S Fairfax Ave is a home located in Los Angeles County with nearby schools including Carthay Center Elementary School, Fairfax High School, and Ralph Waldo Emerson Community Charter Middle School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

California Regional Multiple Listing Service (CRMLS) The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.

Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information

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