1524 S Fairfax Avenue, Los Angeles, California 90019, Los Angeles, 90019 - 3 bed, 2 bath
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1524 S Fairfax Avenue
Los Angeles, California 90019
ACTIVE
CONDITION: EXCELLENT
3Beds
2Baths
1,479Sq Ft
6,888Lot Size
Property Price
LIST PRICE$1,499,000
EST. MARKET VALUE
$1,467,458
SUMMARY
This property presents a High-Potential Investment Opportunity with a List Price of $1,550,000—positioned well below the $1,554,710 Fair Market Value by 0.3%. Featuring R3 Zoning with Partial RTI permits for a 20-unit development, this asset offers significant long-term upside. Currently in Excellent Condition with a $5,000/month rental income through 2027, it provides stable cash flow during the final entitlement phase. This is a strategic acquisition ideal for Buy-and-Hold Investors or Multi-Family Developers seeking a shovel-ready project in a high-demand Los Angeles corridor.
Estimated Market Value
$1,467,458
Based on Realkey algorithm analyzing recent comparable sales in Los Angeles.
Comparable Sales Map
Comparables within 1 miles sold in recently
Map unavailable.
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1524 S Fairfax Avenue Subject 3 bd · 2 ba · 1,479 sqft · $992 | $1,499,000* List Price | 3 | 2 | 1,479 | $992 | - |
A 1656 S Genesee Avenue Sold 3 bd · 3 ba · 1,580 sqft · $974 · 0.3 mi | $1,539,000 | 3 | 3 | 1,580 | $974 | 0.3 mi |
B 1663 S Genesee Avenue Sold 3 bd · 2 ba · 1,687 sqft · $1,018 · 0.3 mi | $1,718,000 | 3 | 2 | 1,687 | $1,018 | 0.3 mi |
C 1724 S Fairfax Sold 3 bd · 2 ba · 1,464 sqft · $881 · 0.3 mi | $1,290,000 | 3 | 2 | 1,464 | $881 | 0.3 mi |
D 1558 Hauser Sold 3 bd · 2 ba · 1,577 sqft · $733 · 0.6 mi | $1,156,000 | 3 | 2 | 1,577 | $733 | 0.6 mi |
E 1206 S Burnside Avenue Sold 3 bd · 2 ba · 1,491 sqft · $905 · 0.9 mi | $1,350,000 | 3 | 2 | 1,491 | $905 | 0.9 mi |
F 1829 S Fairfax Avenue Sold 3 bd · 2 ba · 1,263 sqft · $911 · 0.5 mi | $1,150,000 | 3 | 2 | 1,263 | $911 | 0.5 mi |
G 1741 S Spaulding Avenue Sold 3 bd · 3 ba · 1,451 sqft · $965 · 0.4 mi | $1,400,000 | 3 | 3 | 1,451 | $965 | 0.4 mi |
H 1633 Ellsmere Avenue Sold 2 bd · 1 ba · 1,372 sqft · $846 · 0.4 mi | $1,161,000 | 2 | 1 | 1,372 | $846 | 0.4 mi |
I 1705 S Genesee Pending 3 bd · 2 ba · 1,526 sqft · $885 · 0.3 mi | $1,349,998 List Price | 3 | 2 | 1,526 | $885 | 0.3 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Excellent
TeardownExcellent
Property is new construction or fully renovated.
While the structure dates to 1925, the property has undergone a comprehensive recent renovation including a brand-new kitchen, new bathrooms, and redone flooring. The listing states it has never been lived in since the updates and is in move-in ready condition, qualifying it for the excellent category based on a renovation under 5 years old.
PROSSTRENGTHS & OPPORTUNITIES
- High-Density Development Potential
The property is an R3-zoned lot with partial RTI permits for a 20-unit project, offering a significant head start on the entitlement process for developers.
- Immediate Rental Income
The asset is currently cash-flowing at $5,000 per month with a tenant in place until January 2027, providing excellent carry-cost coverage during the final permitting stages.
- Prime Mid-City Location
Ideally situated minutes from Beverly Grove and major freeways, the location ensures high demand and strong rental upside for the future multi-family build.
CONSRISKS & DEFICIENCIES
- Delayed Construction Timeline
The existing lease agreement until 2027 prevents immediate redevelopment, which may not align with investors seeking a shorter project lifecycle.
- Underperforming Local Schools
The property is served by schools with lower ratings, specifically a 3/10 for the local middle school, which could impact the long-term appeal for family-oriented tenants.
About 1524 S Fairfax Avenue
DEVELOPMENT DEAL. Prime Development Opportunity R3 Lot with Partial RTIAn exceptional opportunity for developers and investors! This R3-zoned lot comes with a partially RTI (Ready-To-Issue) permit, having already passed Planning and currently awaiting approval from the Building and Safety Department. The proposed project is sited for a 20-unit build, consisting of 16 primary units plus 4 ADUs on the ground floor, maximizing the lot's development potential.Located in a high-demand area with strong rental upside, this property is ideal for those looking to capitalize on Los Angeles's growing need for multi-family housing, with much of the entitlement process already completed, this is a rare chance to step into a nearly shovel-ready development with significant upside.Don't miss this outstanding investment opportunity to build a high-yield asset in a desirable neighborhood. The home currently is a Single Family. Floors have been redone, home has been painted inside and out, new Kitchen, new bathrooms, has never been lived in. Large lot of almost 7k sqft with a newly constructed backyard. This beautiful home is move in ready. Location is ideal, min from Beverly Grove and a few blocks from Freeway. Easy to show and could be leased furnished as well. Already cash flowing at $5,000/ month with tenant in place until January 2027
Property Details
Public Facts
- Property Type
- Single Family Residence
- Year Built
- 1925
- Lot Size
- 6,888 Sq. Ft.
Interior
- Total Bedrooms
- 3
- Total Bathrooms
- 2 (2 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Los Angeles Unified Schools
Crescent Heights Boulevard Elementary School
Grades K-5 • 0.4 mi
4/10
Saturn Street Elementary School
Grades K-5 • 0.7 mi
4/10
Daniel Webster Middle School
Grades 6-8 • 4.1 mi
3/10
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 3.0 | 3.0 |
| Baths | 2.0 | 2.0 |
| Square foot | 1,479 | 1,670.836 |
| Lot Size | 6,888 | 6,152.156 |
| Price | $1.50M | $1.34M |
| Price per sq ft | $1.0K | $807 |
| Built year | 1925 | 1941 |
| HOA | $0 | $238 |
| Days on market | 167 | 56 |
Pricing History
Listed for Sale
Sep 24, 2026
$1,499,000
$1,550,000
-3% Price Drop
Initial Listing
Price Change
May 26, 2026
$1,550,000
Initial Listing
Sold
Jan 10, 2017
$900,000
Public Record
Sold
Nov 5, 1998
$146,000
Public Record