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1019 N Fairfax Ave, West Hollywood, CA 90046
0 Beds |
0 Baths |
For Sale: $0
Kennedy Wilson Real Estate Sales and Marketing as exclusive agent, is pleased to present for sale a ±6,674 square foot in-fill redevelopment site with the potential to build up to 15 new residential units and may be eligible for additional incentives using a combination of the city’s mixed-use and transit overlay zones. Located in the heart of world-famous West Hollywood. Ideally situated on Fairfax between Melrose Ave and Santa Monica Blvd, 1019 Fairfax boasts a “Walk Score” of 96 out of 100 and is considered a “Walker’s Paradise”. This rare in-fill redevelopment site is proximate to all the best retail shopping, dining and entertainment along Fairfax, Santa Monica Blvd, Sunset Blvd and Melrose Avenue. The vibrant Fairfax submarket is experiencing a renaissance of new development and is easily accessible to neighboring Beverly Hills, Century City, Hollywood and the Mid Wilshire/Miracle Mile office corridors.
The property is currently improved with ±3,038 sq. ft. 2-story office building, surface parking, auxiliary structure at the rear of the lot and a lucrative two-sided billboard. Altogether, the property has in place gross annual income of approximately $88,000 and will be delivered free and clear of all debt, but subject to existing month to month leases. Alternatively, 1019 N. Fairfax is ideally suited for a new owner/user or investor to renovate existing improvements, add space, and negotiate a market rent lease for the billboard.
This covered land play represents a generational sale of family-owned real estate and is being marketed concurrently with a larger redevelopment site just 2 blocks away at 1227-1233 N Fairfax Avenue that is improved with 22 garden style apartments on a ±22,000 sq. ft. lot. In-place income allows prospective developers to cover some of its holdings costs as entitlements are pursued for future redevelopment of the property.
For Sale: $0
Kennedy Wilson Real Estate Sales and Marketing as exclusive agent, is pleased to present for sale a ±6,674 square foot in-fill redevelopment site with the potential to build up to 15 new residential units and may be eligible for additional incentives using a combination of the city’s mixed-use and transit overlay zones. Located in the heart of world-famous West Hollywood. Ideally situated on Fairfax between Melrose Ave and Santa Monica Blvd, 1019 Fairfax boasts a “Walk Score” of 96 out of 100 and is considered a “Walker’s Paradise”. This rare in-fill redevelopment site is proximate to all the best retail shopping, dining and entertainment along Fairfax, Santa Monica Blvd, Sunset Blvd and Melrose Avenue. The vibrant Fairfax submarket is experiencing a renaissance of new development and is easily accessible to neighboring Beverly Hills, Century City, Hollywood and the Mid Wilshire/Miracle Mile office corridors.
The property is currently improved with ±3,038 sq. ft. 2-story office building, surface parking, auxiliary structure at the rear of the lot and a lucrative two-sided billboard. Altogether, the property has in place gross annual income of approximately $88,000 and will be delivered free and clear of all debt, but subject to existing month to month leases. Alternatively, 1019 N. Fairfax is ideally suited for a new owner/user or investor to renovate existing improvements, add space, and negotiate a market rent lease for the billboard.
This covered land play represents a generational sale of family-owned real estate and is being marketed concurrently with a larger redevelopment site just 2 blocks away at 1227-1233 N Fairfax Avenue that is improved with 22 garden style apartments on a ±22,000 sq. ft. lot. In-place income allows prospective developers to cover some of its holdings costs as entitlements are pursued for future redevelopment of the property.