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The Warburton Team Brokered By EXp

andreww@gowpnow.com +1(626) 630-2141

$2,600,000

Est. payment - /mo

8,254 Sqft Lot

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UPDATED:

Key Details

Property Type Apartment

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

MLS Listing ID SB26125710

HOA Y/N No

Year Built 1950

Lot Size 8,254 Sqft

Property Sub-Type Apartment

Property Description

1215 S Fairfax Ave presents the opportunity to acquire a 12-unit apartment community in one of Los Angeles' most desirable and supply-constrained rental markets. Located just south of Olympic Boulevard, the property sits in the heart of the Fairfax District, providing tenants with immediate access to Miracle Mile, Beverly Grove, Culver City, The Grove, LACMA, the Academy Museum, and the Wilshire Corridor's expanding employment and entertainment hubs. The property's central location continues to attract strong rental demand from professionals seeking convenient access to the Westside, Downtown Los Angeles, Hollywood, and Beverly Hills.

The property consists of 12 units totaling approximately 8,578 square feet on an 8,257 square foot LAR3-zoned lot and offers investors a compelling value-add opportunity through both rental repositioning and future development potential. Existing rents remain substantially below market, creating significant upside through unit turnover and renovations.

Adding to the investment story, ownership has completed plans for the conversion of the existing garage into a new two-story, six-unit ADU structure consisting entirely of 1-bedroom/1-bathroom units. The proposed project would increase the property from 12 units to 18 units while adding approximately 2,730 square feet of rentable area, creating a rare opportunity to substantially increase cash flow and long-term asset value in a high-barrier-to-entry submarket. Buyer to verify all plans, permits, approvals, and development feasibility.

With a premier Fairfax location, substantial rental upside, and a fully conceptualized six-unit ADU expansion opportunity, 1215 S Fairfax Ave offers investors the opportunity to acquire a value-add asset with multiple paths to increasing income and long-term appreciation.

Location

State CA

County Los Angeles

Area C16 - Mid Los Angeles

Zoning LAR3

Interior

Fireplace No

Laundry Common Area

Exterior

Garage Spaces 8.0

Garage Description 8.0

Pool None

Community Features Biking, Curbs, Dog Park, Golf, Hiking, Park, Urban

Total Parking Spaces 8

Private Pool No

Building

Lot Description 0-1 Unit/Acre

Story 2

Sewer Public Sewer

Water Public

New Construction No

Others

Senior Community No

Tax ID 5086003003

Acceptable Financing Cash, Cash to New Loan, Conventional, 1031 Exchange

Listing Terms Cash, Cash to New Loan, Conventional, 1031 Exchange

Special Listing Condition Standard

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Listed by Cameron Samimi Lyon Stahl Investment Real Estate, Inc. #02035763

NEARBY SCHOOL & BUSINESS

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1215 S Fairfax AVE Los Angeles, CA 90019