1215 S FAIRFAX AVE, LOS ANGELES, CA 90019

Property Description

About this home

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.