1433 S Fairfax Ave, Los Angeles, CA 90019

Description

Rare 4-unit apartment building in a prime Los Angeles neighborhood, now offered at $424 per square footsignificantly below current condo and single-family home pricing. Recent market data shows Los Angeles condos trading around $688$723 per square foot and single-family homes near $791 per square foot, making this multifamily opportunity an exceptional value for owner-occupants and investors alike. The property features two 1-bedroom and two 2-bedroom units, ideal for house-hacking or generating rental income while living in one unit. With realistic pricing and strong cash-flow potential, this building presents a financially smarter alternative to purchasing a condo or small single-family home in today's market. Seller confirms the property is approved for an 800-square-foot accessory dwelling unit (ADU) to be constructed over the existing garages. Under California state law and current Los Angeles ADU regulations, detached or garage-top ADUs up to 800 square feet are permitted regardless of lot coverage or floor-area ratio limits, providing significant added value and flexibility. The ADU approval opens multiple strategic options: create a third income stream, accommodate extended family, or enhance overall property valuation. Construction costs for garage-top or detached ADUs in Los Angeles typically range from $225,000 to $350,000 for a 700800 square-foot unit, offering strong return potential in a high-demand rental market. Located in a desirable Los Angeles neighborhood, the property offers convenient access to local amenities including neighborhood shops, restaurants, cafes, and parks. Residents enjoy walkable streets, tree-lined blocks, and proximity to major employment centers, entertainment, and cultural attractions. The area is well-served by public transportation, major freeways, and top-rated schools, making it attractive to a wide range of tenants and future buyers. This is a turnkey investment with immediate income, owner-occupancy potential, and significant upside through ADU development. Whether you're a first-time buyer seeking an affordable entry into Los Angeles real estate, an investor looking to expand your portfolio, or a homeowner seeking to offset your mortgage with rental income, this 4-unit building delivers unmatched versatility and value. Do not miss this opportunity to own a multifamily asset priced well below comparable condos and homes.