1524 S Fairfax Avenue, Los Angeles, California 90019, Los Angeles, 90019 - 3 bed, 2 bath
Loading property details...
Los Angeles, California 90019
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.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1524 S Fairfax Avenue Subject | $1,550,000* List Price | 3 | 2 | 1,479 | $1,051 | - |
A 1829 S Fairfax Avenue Sold | $1,150,000 | 3 | 2 | 1,263 | $911 | 0.5 mi |
B 1741 S Spaulding Avenue Sold | $1,400,000 | 3 | 3 | 1,451 | $965 | 0.4 mi |
C 1612 S Genesee Avenue Sold | $1,330,000 | 2 | 2 | 1,216 | $1,094 | 0.2 mi |
D 1535 Carmona Ave Sold | $1,600,000 | 3 | 2 | 1,831 | $874 | 0.5 mi |
E 1343 Carmona Avenue Sold | $1,499,000 | 3 | 3 | 1,363 | $1,100 | 0.6 mi |
F 1645 S Sierra Bonita Avenue Sold | $1,462,500 | 2 | 2 | 1,420 | $1,030 | 0.5 mi |
G 1663 S Genesee Avenue Active | $1,895,000 List Price | 3 | 2 | 1,687 | $1,123 | 0.3 mi |
* Subject property listed price vs sold prices of comps.
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.
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.
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.
Ideally situated minutes from Beverly Grove and major freeways, the location ensures high demand and strong rental upside for the future multi-family build.
The existing lease agreement until 2027 prevents immediate redevelopment, which may not align with investors seeking a shorter project lifecycle.
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.
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
No exterior & parking available.
Grades K-5 • 0.4 mi
Grades K-5 • 0.7 mi
Grades 6-8 • 4.1 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | 3.0 | 50% |
| Baths | 2.0 | 2.0 | 50% |
| Square foot | 1,479 | 1,754.5 | 33% |
| Lot Size | 6,888 | 6,207.5 | 73% |
| Price | $1.55M | $1.31M | 66% |
| Price per sq ft | $1.0K | $803 | 95% |
| Built year | 1925 | 1928 | 42% |
| HOA | $0 | $0 | 50% |
| Days on market | 11 | 147 | 3% |
May 26, 2026
$1,550,000
Initial Listing
Jan 10, 2017
$900,000
Public Record
Nov 5, 1998
$146,000
Public Record