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1227 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 an opportunity to develop and build up to 38 new apartments or condominiums on Fairfax Avenue just north of Santa Monica Blvd. 1227 & 1233 N Fairfax is a nearly ½ acre site currently improved with 22 single story garden apartments that currently generates ±$252,000 annual gross rental income. The property will be delivered free and clear of all debt, but subject to existing month to month leases.
1227 & 1233 N Fairfax Avenue 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. Unlike other in fill sites offered around town, 1227 & 1233 N Fairfax Avenue provides income during the entitlement pursuit process and most importantly… is NOT subject to the newly imposed City of Los Angeles ULA Transfer Tax.
This covered land play represents a generational sale of family-owned real estate and is being marketed concurrently with a smaller owner/user property just 2 blocks away at 1019 Fairfax Ave that features a 2-sided billboard and loaded with upside.
For Sale: $0
Kennedy Wilson Real Estate Sales and Marketing as exclusive agent, is pleased to present an opportunity to develop and build up to 38 new apartments or condominiums on Fairfax Avenue just north of Santa Monica Blvd. 1227 & 1233 N Fairfax is a nearly ½ acre site currently improved with 22 single story garden apartments that currently generates ±$252,000 annual gross rental income. The property will be delivered free and clear of all debt, but subject to existing month to month leases.
1227 & 1233 N Fairfax Avenue 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. Unlike other in fill sites offered around town, 1227 & 1233 N Fairfax Avenue provides income during the entitlement pursuit process and most importantly… is NOT subject to the newly imposed City of Los Angeles ULA Transfer Tax.
This covered land play represents a generational sale of family-owned real estate and is being marketed concurrently with a smaller owner/user property just 2 blocks away at 1019 Fairfax Ave that features a 2-sided billboard and loaded with upside.