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Multi-Family

1550-1556 S Fairfax

1550-1556 S Fairfax Ave, Los Angeles, CA 90019

Listing Price: $5,850,000

Lot Size
0.32 acres
Price/Acre
$18,505,882
Land Type
Land
Buildable Square Feet
36,235

Investment Overview

Marcus & Millichap is 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.

Investment Highlights

  • RTI for 30 Luxury Apt Units
  • Rare 13,770 SF Double Lot
  • Tier 3 TOC Designation
  • FAR of 4.5:1
  • High-Barriers to Entry Market
  • Walk Score of 83

Exclusively Listed By

Financing By

Listing Price: $5,850,000

Lot Size
0.32 acres
Price/Acre
$18,505,882
Land Type
Land
Buildable Square Feet
36,235

Investment Highlights

  • RTI for 30 Luxury Apt Units
  • Rare 13,770 SF Double Lot
  • Tier 3 TOC Designation
  • FAR of 4.5:1
  • High-Barriers to Entry Market
  • Walk Score of 83

Investment Overview

Marcus & Millichap is 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.

Exclusively Listed By

Financing By

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