Two Covered Land Plays in West Hollywood

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.

Property Information

Property Type:Office
Address: 1019 N Fairfax Avenue
West Hollywood , CA 90046
(View on map)
Lot Size:6,674 Sq Ft
Property APN:5529-009-032
County:Los Angeles

Auction Information

Auction Category:Non-Probate

Available Downloads

Listing Agent Information

Agent Name: Andy Levant (email)
Agent DRE Lic #: 01011576
Agent Phone: 310-559-1000
Company: Kennedy Wilson Real Estate Sales & Marketing

34.0893082, -118.3617101

This property (the "Property") is offered together with improvements thereon "as is, where is" with no warranty expressed or implied. The Seller and Kennedy Wilson make no representations regarding the Property offered for sale such as size and condition of improvements, lot size, boundaries, zoning, code violations, compliance with applicable ordinances, property features, rights, obligations, etc. All information and documents provided by the Seller and Kennedy Wilson are from sources deemed to be reliable but are not guaranteed. A prospective purchaser must rely on its own investigation and inspections prior to purchasing. Property is offered subject to withdrawal or prior sale at any time prior to a legally binding purchase and sale agreement. The legally binding purchase and sale agreement contains the entire agreement between parties and supersedes all prior communications, whether oral or written, express or implied, between the parties. EQUAL HOUSING OPPORTUNITY