Property Overview
1215 S Fairfax Ave is a 12-unit multifamily property in the Fairfax District of Los Angeles, offered at $2,200,000. Built in 1950, the property is a value-add opportunity in a high-demand, renter-driven submarket. At this location, well-maintained income-producing assets at $183,333 per unit are increasingly difficult to source.
The unit mix consists of ten one-bedroom, one-bath units and two studios across 8,578 rentable square feet. Eleven of twelve units are occupied, with in-place rents totaling $15,503 per month against a market rent potential of $22,900. That gap represents 47.71% upside, achievable through natural turnover. Unit 9 is the single largest upside opportunity in the rent roll: it currently rents for $1,023 against a $1,950 market rent.
Because the property is subject to the Los Angeles Rent Stabilization Ordinance, the incoming owner resets rents to market at each vacancy. Ready-to-issue plans for six additional ADUs offer a path from 12 to 18 units (buyer to verify). The building has a detached rear garage with alley access, separately metered utilities, and a secured-access entry. Seller financing is available, and 1215 S Fairfax Ave is a value-add asset with a clearly defined path to both rent and unit-count growth.
Key Property Details
Investment Highlights
Neighborhood and Accessibility
1215 S Fairfax Ave sits in the Carthay Square area of Mid-City, with a Walk Score of 90 (“Walker’s Paradise”). The Grove, the Original Farmers Market, LACMA and Museum Row on Wilshire, Beverly Grove, and the Miracle Mile are all a short drive or walk away. Little Ethiopia and the Fairfax and Pico retail corridor, anchored by Vons, are within walking distance for daily needs. The surrounding area is 76% renter-occupied, with a median household income of $96,310 within a one-mile radius, which supports deep, consistent tenant demand.
Fairfax Avenue connects the property directly to West Hollywood to the north and to the I-10 to the south. Century City, Culver City, and Downtown Los Angeles are each within a short commute. The Metro D Line’s Wilshire/Fairfax station, roughly a mile north, adds rail access along the Wilshire corridor. Several large-scale residential developments are underway nearby, which signals ongoing investment in the immediate area. Meanwhile, high barriers to new entitlements keep existing rent-stabilized stock well occupied, supporting durable demand and long-term rent growth.
For more information and to schedule a viewing, please contact:
Taylor Avakian
Founder, The Group CRE
First Vice President, Lyon Stahl
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