Real Estate For Sale in...
 

1501 S Fairfax Avenue, Los Angeles, CA 90019

$1,195,000
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.

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

Would you like more information regarding this property?
Please call  .

Mortgage Calculator
(% per year)
(in years)
 
(estimated)

*May not reflect current interest rates and is intended for educational/information purposes only. All figures are hypothetical and should not be relied upon in any way.

$$$

Compare current mortgage rates

Property Features for 1501 S Fairfax Avenue
Status
Market Status
Available
Last Updated
September 21, 2017
Description
Property Type
Multi Family
Year Built
1940

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

Location

  • 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

Foreclosure, Auction & Bank Owned Listings
Save on your next home purchase. Search forclosure listings in Los Angeles
Go
New Home Listings From Top Home Builders
Search new home communities and view new homes for sale
Go
Back To Top

Advertisements

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.