1456 S Fairfax Avenue

    Los Angeles (City), CA 90019
    • $2,200,000
    • STATUS: Active
    • ON SITE: 29 days
    • ID#: 19426408
    UPDATED: 36 min ago
    $2,200,000
    • 0
      BEDS
    • 0.16
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 4,968
      SQFT
    • $443
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1929
    County:

    School Ratings & Info

    Description

    Charming Picfair Village fourplex in excellent location close to incoming Metro Purple line, easy freeway access and convenient to the Grove, LACMA, Petersen and Academy Awards museums. Each 2 bedroom 1 bathroom unit offers tenants spacious floor plans with large living, dining and kitchen areas, private patio and balcony space, and bathrooms with vintage details. Property also has detached 4-car garage plus huge driveway parking area offering ample parking and storage options to tenants. Great cash-flow with existing tenants, plus significant upside potential. Buyers have options to continue renting the units as-is, upgrade them to increase rental income, or developers can further maximize value of the R3 corner lot (up to 8 units/4 stories; buyer to verify with City).

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-02-23T20:39:27.957. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
    www.bestlahomefinder.com/homes/91171938

    1456 S Fairfax Avenue Los Angeles (City), CA 90019

    • Price: $2,200,000
    • Status: Active
    • Updated: 36 min ago
    • ID#: 19426408
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.16
    Acres
    4,968
    SQFT
    $443
    $/SQFT
    1929
    Built
    Neighborhood:
    C16 - Mid Los Angeles
    County:
    Los Angeles
    Area:
    C16 - Mid Los Angeles
    Property Description
    Charming Picfair Village fourplex in excellent location close to incoming Metro Purple line, easy freeway access and convenient to the Grove, LACMA, Petersen and Academy Awards museums. Each 2 bedroom 1 bathroom unit offers tenants spacious floor plans with large living, dining and kitchen areas, private patio and balcony space, and bathrooms with vintage details. Property also has detached 4-car garage plus huge driveway parking area offering ample parking and storage options to tenants. Great cash-flow with existing tenants, plus significant upside potential. Buyers have options to continue renting the units as-is, upgrade them to increase rental income, or developers can further maximize value of the R3 corner lot (up to 8 units/4 stories; buyer to verify with City).
    Exterior Features

    Construction Materials Stucco Direction Faces West Entry Location Ground Level With StepsTop Level Garage Spaces 4.00 Lot Features LawnNear Public TransitLandscapedCorner Lot Lot Size Units Square Feet Parking Features AssignedDriveway - Concrete Parking Total 4.00 Parking YN Yes Roof Flat

    Interior Features

    Appliances Garbage DisposalGas OvenRefrigeratorGas Water HeaterMicrowaveRange/Stove HoodBuilt In RangeGas CookingTankless Water HeaterWater Heater Unit Appliances YN Yes Cooling None Cooling YN No Fireplace Features Decorative Fireplace YN Yes Flooring LaminateVinylWood Interior Features Balcony Laundry Features Washer IncludedDryer Included Levels Two Room Type FoyerLoft

    Property Features

    Gross Multiplier 20.56 Gross Operating Income 106992.00 Improvements Amount 665433 Land Lease YN No Land Value 633746 Laundry YN Yes Net Operating Income 100192.00 Number Of Separate Electric Meters 4 Number Of Separate Gas Meters 4 Number Of Units Leased 4 Number Wall AC 0 Number With Carpet 0 Number With Dishwasher 1 Number With Disposal 4 Number With Patio 4 Number With Range 4 Number With Refrigerator 4 Special Listing Conditions Standard Tenant Pays ElectricityCable TvGas Total Actual Rent 8915.00 Total Expenses 6800.00 Zoning Lar3

    Listing provided courtesy of Adrienne Salerno of Dwell Well Realty


    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-02-23T20:39:27.957. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
     
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