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1501 S Fairfax Avenue, Los Angeles, CA 90019

Multi Family MLS# SR17167293 ID: 46742298
$1,195,000 Get Rates

1501 S. Fairfax Avenue is a 1940's rent-controlled triplex in the heart of Mid-City, in Central Los Angeles. It's a unique asset, perfect as a personal residence, rental property, or development opportunity given its LAR3 zoning. The triplex offers the following features and amenities: Three 1 +1 units; living rooms; dining areas; hardwood floors; crown moldings; onsite parking; onsite laundry room; and patios and decks. Plus it's a corner lot zoned LAR3, which allows for the development of up to 11 units with a density bonus. HOME BUYERSâ⿬¦ If a unit is vacated, the subject property would make an excellent personal residence. Plus, the adjacent units afford the homeowner the possibilities for multi-generational living and earning streams of passive rental income. INVESTORSâ⿬¦ Currently two of the three units are at below-market rents. Market rents for 1+1 units in this area are approx. $2,000 per month. Housing is in such high demand that the vacancy rate in the submarket is 2.1%. DEVELOPERSâ⿬¦ R3 zoning makes this asset an incredible opportunity to maximize the property's income-producing potential. Current zoning allows for the development of 11 dwelling units with a density bonus. Recent new developments, including 1445 S. Fairfax, are commanding rents as high as $3,900 per month for 2-bedroom units. Buyer to independently verify the development potential and all aspects of the property through personal inspection with appropriate professionals.

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Location Information near 1501 S Fairfax Avenue
Offered by Christina Pambakian at Keller Williams Realty Calabasas

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Property Features for 1501 S Fairfax Avenue
Market Status
Last Updated
September 21, 2017
Property Type
Multi Family
Year Built

Building Features

  • Cooling System: Wall or Window Air Conditioner(s)

Community Info

  • Home Owner Asso.: Community Laundry Facility(s)
  • Laundry Facilities

Interior Features

  • Interior Construction: Ceiling Fan(s), Crown Moldings, Living Room


  • MLS Area: C16 - Mid Los Angeles

Lot Features

  • Lot Size: Corner Lot
  • Christina Pambakian
  • Keller Williams Realty Calabasas

Data Provided by:
California Regional Multiple Listing Service

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More information about this $1,195,000 Multi Family at 1501 S Fairfax Avenue

This $1,195,000 Multi Family at 1501 S Fairfax Avenue in Los Angeles, CA is presented by Christina Pambakian. This $1,195,000 Multi Family, located in the 90019 zip code, has the following property features: Interior Construction, MLS Area, Lot Size, Home Owner Asso.. This 1501 S Fairfax Avenue Multi Family, located in Los Angeles County , is listed under MLS listing number SR17167293 and has a listing price of $1,195,000. You can find more LOS ANGELES homes for sale here.