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1550 - 1556 S Fairfax Avenue

Los Angeles (City), CA 90019
  • $5,850,000
  • STATUS: Active
  • ON SITE: 95 Days
  • ID#: 21775894
UPDATED: 52 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

Listing provided courtesy of Filip Niculete of Marcus & Millichap

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 California Regional Multiple Listing Service, Inc. as of 2021-11-27T00:26:15.763. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Latrice Deluna Homes | The Orion Group. Licensed in the State of California, USA.
www.findorangecountyhomelistings.com/homes/120755043
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1550 - 1556 S Fairfax Avenue Los Angeles (City), CA 90019

  • Price: $5,850,000
  • Status: Active
  • On Site: 95 Days
  • Updated: 52 min ago
  • ID#: 21775894
0
Beds
0
Baths
0
½ Baths
0.32
Acres
Neighborhood:
C16 - Mid Los Angeles
County:
Los Angeles
Area:
C16 - 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

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Property Features

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Based on information from California Regional Multiple Listing Service, Inc. as of 2021-11-27T00:26:15.763. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Latrice Deluna Homes | The Orion Group. Licensed in the State of California, USA.
 
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Latrice Deluna Homes | The Orion Group
4533 MacArthur Blvd Ste 5074
Newport Beach CA, 92660
Listing provided courtesy of Filip Niculete of Marcus & Millichap