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1550-- 1556 S Fairfax Ave

Los Angeles, CA 90019
  • $5,850,000
  • STATUS: Active
  • ON SITE: 103 Days
  • ID#: 21-775894
UPDATED: 25 min ago
$5,850,000
  • 0
    BEDS
  • 0.32
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Vacant Land / Lots
County:

School Ratings & Info

Description

We are pleased to present 1550-1556 South Fairfax Avenue, a high- profile RTI development opportunity ideally situated in the Pico-Robertson neighborhood of West L.A. The proposed project resides on a double lot measuring 13,770 total square feet, and has been approved for the construction of 30 luxury apartment units across six stories, on-grade atop one level of subterranean parking. The proposed project offers a very attractive unit mix of one, two, and three bedroom units, making it an ideal place of living for tenants of various backgrounds and makeups. The RTI plans for the project utilize the Tier 3 TOC density bonus incentive as well, allowing the scope of the project to be built with a F.A.R. of (4.5:1) rather than (3:1) by right. Higher-end finishes with built-in cabinetry have been carefully selected with the long-term hold in mind for prospective investors, and are instrumental in giving the tenants that luxury living feeling at an affordable price. Even despite the recent onslaught of new construction projects in the vicinity, recent regulations such as SB330 make it very difficult to tear existing buildings in this pocket down, creating a high barrier to entry which funnels demand to the tenant pool, ultimately resulting in elevated income figures for an investor.

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Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-12-05T07:42:29.223. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
www.bringingyouhomescv.com/homes/120754393
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1550-- 1556 S Fairfax Ave Los Angeles, CA 90019

  • Price: $5,850,000
  • Status: Active
  • On Site: 103 Days
  • Updated: 25 min ago
  • ID#: 21-775894
0
Beds
0
Baths
0
½ Baths
0.32
Acres
Neighborhood:
Mid Los Angeles
County:
Los Angeles
Area:
Mid Los Angeles
Property Description
We are pleased to present 1550-1556 South Fairfax Avenue, a high- profile RTI development opportunity ideally situated in the Pico-Robertson neighborhood of West L.A. The proposed project resides on a double lot measuring 13,770 total square feet, and has been approved for the construction of 30 luxury apartment units across six stories, on-grade atop one level of subterranean parking. The proposed project offers a very attractive unit mix of one, two, and three bedroom units, making it an ideal place of living for tenants of various backgrounds and makeups. The RTI plans for the project utilize the Tier 3 TOC density bonus incentive as well, allowing the scope of the project to be built with a F.A.R. of (4.5:1) rather than (3:1) by right. Higher-end finishes with built-in cabinetry have been carefully selected with the long-term hold in mind for prospective investors, and are instrumental in giving the tenants that luxury living feeling at an affordable price. Even despite the recent onslaught of new construction projects in the vicinity, recent regulations such as SB330 make it very difficult to tear existing buildings in this pocket down, creating a high barrier to entry which funnels demand to the tenant pool, ultimately resulting in elevated income figures for an investor.
Exterior Features

Lot Size Area 13770 View Description None View YN No

Property Features

Cable YN No Sale Type Standard Source Lot Size Area Other Zoning Lar3

Listing provided courtesy of Filip Niculete DRE#01905352 of Marcus & Millichap.


Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-12-05T07:42:29.223. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
 
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Montemayor & Associates | RE/MAX of Santa Clarita
25129 The Old Road, Suite 114
Stevenson Ranch CA, 91381