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    1241 N Fairfax Ave West Hollywood, CA 90046

    View on Map
    Sponsored
    For Sale
    Under Contract
    $3,300,000

    MULTI_FAMILY - West Hollywood, CA

    Property size:
    10,378 SF
    Lot size:
    0.20 Acres
    Days on Market:
    9
    Last Refresh:
    Mar 21 at 6:06 am

    Property Features for 1241 N Fairfax Ave

    General Information

    Special listing conditions
    Standard
    Property type
    Residential Multi Family
    Property subtype
    Other
    TransactionType
    Standard
    Standard status
    Active Under Contract
    Zoning
    WDR4*
    Rooms
    Bedroom 9, Bedroom 2, Bathroom 2, Bathroom 6, Bathroom 1, Bedroom 1, Bedroom 14, Bathroom 8, Bathroom 13, Bedroom 6, Bathroom 4, Bedroom 7, Bedroom 10, Bedroom 5, Bathroom 16, Bathroom 11, Bathroom 5, Bedroom 12, Bathroom 3, Bathroom 14, Bedroom 13, Bathroom 15, Bathroom 10, Bedroom 3, Bedroom 4, Bathroom 9, Bathroom 7, Bathroom 12, Bedroom 8, Bedroom 11
    Bedrooms
    14
    Bathrooms
    16
    APN
    5554-012-009
    Parking
    14
    Parking features
    Assigned
    Size
    10,378 SF
    Lot size
    0.20 Acres

    Utilities

    Heating system
    Central
    Cooling system
    Window Unit(s)

    Building Details

    Year built
    1958
    Floors in Building
    2
    Number of units
    14

    We can help!

    Listing Contact
    Ian Brink

    sotheby's international realty

    Listing agent Ian Brink License #02035925

    Listing date Mar 13, 2026

    MLS# 25551707

    Copyright © 2026 The MLS/CLAW. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    West Hollywood Multifamily Investment Opportunity

    Located in West Hollywood, this 14-unit multifamily property is situated between Santa Monica and Sunset Boulevards, offering proximity to shopping, restaurants, and nightlife. The property is positioned on a lot of over 8,700 square feet. The building features bright and spacious units with hardwood floors, updated kitchens, and modernized systems. One two-bedroom unit will be delivered vacant. Off-street tuck-under and carport parking is available for all units, with additional storage for select units. All state and local mandated soft-story and other seismic retrofits, including elevated structure compliance, have been completed. Additional upgrades include newer dual-pane windows, updated systems, new front awnings, and fresh exterior paint in 2023. The property is suitable for a 1031 exchange. The zoning is WDR4*.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    1031 exchange properties

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    West Hollywood
    County
    Los Angeles
    State
    California
    Longitude
    -118.361986
    Latitude
    34.093068

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    FAQs

    What type of property is this?
    Apartment building - Prime 14-unit building in West Hollywood near Santa Monica/Sunset.
    Where is this apartment building located?
    The property is located at 1241 N Fairfax Ave West Hollywood, CA.
    What is the asking price?
    The asking price for this property is $3,300,000.
    What are key features of this property?
    This property features: - Prime West Hollywood location near Santa Monica and Sunset Boulevards, shopping, restaurants, and nightlife.; - Vacant two-bedroom unit provides immediate additional income potential.; - All state and local mandated seismic retrofits completed.
    (323) 665-1700
    Request Owner's contact information
    1241 N Fairfax Ave West Hollywood, CA 90046
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    West Hollywood, CA 90046
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1241 N Fairfax Ave West Hollywood, CA 90046
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    We can help!
    Listing Contact
    Ian Brink
    Real Estate License ID: 02035925
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