Born in Modesto, California, Frederik was the son of a genious mathematician, and just like his sisters, he wanted to become famous. While they became singers, Fred choose to race. The colorful Armenian with the big smile and terrific personality began racing cars while in his teens. He won his first midget championship in 1937 with the Northern California Racing Association against such drivers as Duane Carter, Lynn Deister, and Paul Swedberg.
Driving for Jack London, Freddie captured the BCRA crown in 1946, then switched to the George Bignotti racing team in 1947. He was almost unbeatable for the next two years and captured the BCRA title twice more in 1947 and 1948.
Agabashian did not limit his driving abilities to midgets. He won in big cars and stock cars as well which earned him a ride at Indianapolis for the 1947 race. He competed at Indy on eleven occasions and is best remembered for his pole winning effort in 1952 in the unique Cummins Diesel. His best finish at Indianapolis came the next year when he placed 4th with relief from Paul Russo.