Apartment building insurance in Fairfax and Miracle Mile (90036)
The apartment stock in Fairfax and Miracle Mile (90036) is old even for Los Angeles. 92% of the 595 buildings with five or more units went up before 1978 and the median one was built in 1935, so ordinance and law limits, original wiring and tuck-under parking are the first three things a file here has to answer for.
What this means for a building in Fairfax and Miracle Mile (90036)
- Age. The median apartment building here was built in 1935, and 92% are pre-1978. That is the ordinance and law and soft-story conversation. Why it matters.
- Size. The average building is 18.0 units and about 15,141 square feet, which puts replacement cost near $4,920,825 at $325 per square foot.
- Rent regulation. Los Angeles rent stabilization covers buildings built before 1979, which slows a rebuild and argues for 18 to 24 months of loss of rents.
- Market. 3 buildings sold here in the last six months. Each of those buyers inherited a policy that was probably wrong on at least one of the four gaps.
- Price. Older buildings across LA County are paying $1,500 to $2,500 per unit per year. What drives it.
What I would check first on a building in Fairfax and Miracle Mile (90036)
If you sent me an address here, I would start with the electrical panel and the wiring, because a median year built of 1935 means original service in a lot of these buildings. Then the ordinance and law limits, since 92% of the buildings here would have to be rebuilt to today's code. After that, the soft-story list, since any tuck-under parking in the City of LA needs a certificate before a carrier gets comfortable. Every one of those is public record, and checking them costs you nothing.
Nearby areas
The same public records for the areas next door.
- Pico-Robertson (90035) 682 buildings
- South Los Angeles (90037) 512 buildings
- Palms (90034) 1,361 buildings