1215 S Fairfax Ave · Los Angeles, CA 90019

$2,600,000

10 bd · 12.0 ba · 8,578 sqft · MultiFamily public records · 11 Days on market

Built 1950 8,255 sqft lot

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Why this score? — see what drove the B- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +3.6/10.0
• Livability +3.4/5.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 12 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

SELLER FINANCING AVAILABLE!!! Yes, the seller will carry the debt at 4% interest only with $1.2M down on this asset for three years. Very rare to find an asset like this in Carthay, the most desired pocket of Los Angeles. You will not find a better price/unit or price/sf in the area. Due to location, this is a perfect asset to TIC and sell off as individual TIC homes with a total sales price of $7,200,000. You cannot find a better deal than this. To learn more please see exit TIC SALE proforma on page 14 of the OM. 1215 S Fairfax Ave is a 12 unit trophy asset located in an A+ area. The subject property is priced at only $233k/unit and has over 100% upside in rents. Once rented for market, 1215 S Fairfax will operate at a 10.44% CAP and 7.44 GRM. This is the ideal opportunity for any value-add investor looking for major upside in a top-tier location. 1215 S Fairfax is comprised of (10) 1Bed+1Bath and (2) Studio+1Bath units. Due to its location, the subject property demands high rents, beneficial to any new buyer. There are (4) 2 car garages located in the rear alley way, as well as plenty of street and permitted parking. There is also a shared laundry room on site. Located just minutes away from many shops, restaurants and other entertainment- this is a renter's dream! With a 91 walk score, this property is considered a walker's paradise,

Key facts

• Strong rental demand
• Rental repositioning
• 8,255 sq ft lot

Tags

• 12 UNIT APARTMENT COMMUNITY
• STRONG RENTAL DEMAND
• VALUE ADD OPPORTUNITY
• RENTAL REPOSITIONING
• FUTURE DEVELOPMENT POTENTIAL
• EXISTING GARAGE CONVERSION

Property features AI

Finance

• Other: Zoning: LAR3; Lot features: 0-1 unit/acre (per assessor); Location note: On Fairfax Ave, off Pico Blvd
• Financial info: Total building area: 8,578; Total of 12 units, 11 currently leased; Gross scheduled income: $205,001; Gross income: $205,001; Total actual rent collected: $17,066; Net operating income: $124,142; Gross multiplier: 14.54; Operating expenses: $80,859; Expense examples: Taxes $32,500; Water/Sewer $12,800; Insurance $10,723; Maintenance $6,831; Trash $6,200; Electric $1,387; Tenant pays gas and electricity; Rent control applies

Exterior

• Parking: Eight garage/parking spaces
• Utilities: Public sewer; District/public water; Twelve separate gas meters; Twelve separate electric meters; One separate water meter
• Home design: Two-story building; Single building containing all units; No ADU
• Construction: Year built per assessor (source: Assessor)
• Exterior features: No pool; Curbs; Urban setting with nearby park and dog park; Access to biking and hiking areas; Near golf course

Interior

• Kitchen: Kitchens in each unit (appliance specifics not provided)
• Bedrooms: Twelve 1-bedroom units (each unit listed as 1 bed)
• Bathrooms: Each unit has 1 full bathroom
• Interior features: Front entry; Entry on main level; Attached property with 2+ common walls; Community apartment
• Laundry & utility: On-site laundry area

What this means for you Summary

Snapshot

• This is a 12 × 10-bed/12.0-bath units multifamily listed at $2.60M.

Deal economics

• At list price, monthly cash flow is $17k ($209k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($44k rent vs $2.60M).
• Cap rate 14.3% vs local median 2.1% in Los Angeles — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 68/100 on livability (#273 in CA) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, employment B; Watch: health & safety C-, crime F, cost of living F.
• Los Angeles Unified (urban): math 29% / reading 54% proficiency, ranked #223 of 517 in CA (top 43%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 67% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Carthay Elementary of Environmental Studies Magnet (323 students, 66% FRL); Emerson Community Charter (492 students, 51% FRL, charter); Fairfax Senior High (math 40% / reading 61%, grade D+, #324 of 1,170 statewide, top 28%, 1,632 students, 81% FRL) — zoned schools at 66% FRL track the district average.
• Market conditions: Rents soft (-0.5%/yr); 206 active listings in the ZIP; 19,697 units permitted in Los Angeles County in 2024 (9,426 in 5+ unit buildings).
• At $44,267/mo this rent would consume 718% of the median local household income ($74k/yr) (locally 5272% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $18k of loan paydown is wiped out by about $78k of value loss. Plan a longer hold.
• Los Angeles County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $728k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• 8 sale attempts since 23y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $2,600,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
8. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.70% ✓
• Cap rate: 14.32%
• Cash-on-cash: 28.66%
• DSCR: 2.28
• GRM: 4.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 19.6%
• Equity multiple: 1.76×
• Total profit: $556,884
• Equity at exit: $387,668

10-year hold

• IRR: 25.7%
• Equity multiple: 2.94×
• Total profit: $1,411,398
• Equity at exit: $224,800

Cash invested: $728,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (CITY): 0 Strongly Tenant-Friendly
• State California: 18 Strongly Tenant-Friendly · D+13
• County: — inherits STATE
• City Los Angeles: 0 Strongly Tenant-Friendly · D+22

LARSO + JCEO 2023; relocation for substantial remodel evictions.

Methodology + full state rankings →

ZIP-level market 90019

• Rents YoY: -0.5%
• Active inventory: 206
• Price-to-rent: 58.7×

Monthly cashflow live

• Estimated rent: $44,267 medium
• Mortgage (P&I): −$13,635
• Tax from tax record: −$2,864 /mo · $34,371/yr
• Insurance: −$1,083
• HOA: −$0
• Vacancy / Maint / Mgmt: −$9,296
• Net cashflow: $17,389

Break-even live

Break-even rent $22,256

Max offer price $2,600,000

Occupancy floor 56%

Sensitivity live

Price	-10% $18,860	-5% $18,125	+0% $17,389	+5% $16,653	+10% $15,917
Rent	-10% $13,892	-5% $15,640	+0% $17,389	+5% $19,137	+10% $20,886
Rate	-1.0pp $18,698	-0.5pp $18,050	base $17,389	+0.5pp $16,715	+1.0pp $16,030

12-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 12× units	10	12	$44,268
Total (12 units)			$44,267

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $650,000
• Closing costs: $78,000
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-06-21
   days on market $2,600,000 Active 11 DOM
2. 2026-06-18
   days on market $2,600,000 Active 8 DOM
3. 2026-06-17
   days on market $2,600,000 Active 7 DOM
4. 2026-06-16
   days on market $2,600,000 Active 6 DOM
5. 2026-06-15
   days on market $2,600,000 Active 5 DOM
6. 2026-06-13
   remarks 681-char remark
7. 2026-06-13
   listed $2,600,000 Active 3 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast CA · Resets to sale price

• Current annual tax: $34,371 · $2,864/mo
• Projected year-2 tax: $34,371 · $2,864/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥88°F today · 21 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 5/10 Major 7 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $531,204
• − Mortgage interest: −$145,640
• − Property taxes: −$34,371
• − Insurance: −$13,000
• − Repairs & maintenance: −$42,496
• − Management: −$42,496
• − Depreciation: −$75,636
• Taxable income: $177,564
• Est. tax owed @ 24.0%: −$42,615
• After-tax cash flow: $166,049/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Los Angeles Unified
• NCES district ID: 0622710
• Math proficiency: 29% ▼ -4.00%
• Reading proficiency: 54% ▲ 10.00%
• Median HH income: $50,403
• Composite: 35.67/100
• National rank: #4875
• State rank: #223 of 517 in CA

Livability — Los Angeles

• Score: 68/100
• State rank: #273
• US rank: #9237

Category grades

Amenities A+ Commute A+ Cost of living F Crime F Employment B Housing B- Health & safety C- User ratings C-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Los Angeles, CA
• County: Los Angeles County · 9,444,647 people
• City population: 3,838,149
• Metro: Los Angeles-Long Beach-Anaheim, CA
• Population (ZIP): 59,548
• Household income: $73,934
• Rent vs Own: 76.2% rent · 23.8% own
• Severe rent burden: 5272.0

Population outlook (Los Angeles County) Hauer SSP2

• Today (2025): 10,940,515 people
• By 2030: 11,256,481 · +2.9%
• By 2040: 11,729,929 · +7.2%
• By 2050: 11,948,407 · +9.2%
• By 2075: 11,818,114 · +8.0%
• By 2100: 10,842,928 · -0.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.73)
• Race & ethnicity: Hispanic / Latino 43% White 18% Black 17% Asian 17% Two or more races 13%
• Hispanic origin (detail): Mexican 26%
• Common ancestry: Lithuanian 1% Romanian 1% Italian 1%
• Foreign-born: 37% · Canada, South Korea, China
• Languages at home: 45% English-only · Spanish 38% Korean 10% Tagalog/Filipino 1%

Political lean MEDSL · Los Angeles

• 2024 margin: Solid D (+32.9) · D 64.8% · R 31.9% · Other 3.3%
• 2008→2024 swing: -7.4pp toward R · 2008: 40.4pp · 2024: 32.9pp
• All cycles: 2024: D+32.9 2020: D+44.2 2016: D+48.0 2012: D+40.0 2008: D+40.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -1477.82%
• Current HPI: 425.5427
• Rent YoY: ▼ -0.50%
• Metro: Los Angeles-Long Beach-Anaheim, CA
• State GDP YoY: ▲ 3.21%
• F500 in state: 116

Industry mix (Fortune 500 HQ in CA)

Industry	F500 HQs	Revenue
▸Technology	27	$1,492B
▸Financial Services	3	$174B
▸Retail	3	$44B
▸Insurance	3	$26B
▸Media / Entertainment	2	$115B
▸Pharmaceuticals / Biotech	2	$62B

Price history

+1305.4% since first listed

20 events — show timeline

• 2026-06-10 Listed $2,600,000 CRMLS
• 2024-04-18 Rental Removed $2,195 APPFOLIO
• 2024-04-10 Listed for Rent $2,195 APPFOLIO
• 2024-04-10 Rental Removed $2,195 APPFOLIO
• 2024-03-13 Price Changed $2,195 APPFOLIO
• 2024-02-05 Price Changed $2,200 APPFOLIO
• 2024-02-04 Listed for Rent $1,900 APPFOLIO
• 2023-10-02 Sold (MLS) $2,700,000 CRMLS
• 2023-09-27 Sold (Public Records) $2,700,000 Public Records
• 2023-08-08 Price Changed $2,800,000 CRMLS
• 2023-06-27 Price Changed $3,025,000 CRMLS
• 2023-06-09 Relisted — CRMLS
• 2023-05-30 Price Changed $2,975,000 CRMLS
• 2023-05-16 Relisted — CRMLS
• 2023-05-13 Relisted — CRMLS
• 2023-04-25 Listed $3,300,000 CRMLS
• 2023-04-18 Coming Soon $3,300,000 CRMLS
• 2004-02-04 Sold (Public Records) $950,000 Public Records
• 2003-08-15 Listed $1,100,000 CRMLS
• 1978-02-21 Sold (Public Records) $185,000 Public Records

Property tax history

+5.6%/yr

Latest (2025): $34,371 · +1.2% YoY. Source: county tax records.