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2223 Fair Oak View Terrace

Silver Lake, CA 90039
  • $1,199,000
  • STATUS: Active
  • ON SITE: 67 Days
  • ID#: SR22157813
UPDATED: 53 min ago
$1,199,000
  • 0
    BEDS
  • 0.38
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Type:
Vacant Land / Lots
County:

School Ratings & Info

Description

We are pleased to present a new development opportunity for the sale at 2219, 2223 and 2229 N. Fair Oaks View Terrace located in the Silver Lake area of Los Angeles. Included in the purchase price are three contiguous duplex-zoned parcels, with views of the beautiful Silver Lake hills, Dodger Stadium and Downtown Los Angeles. The tri-level homes range from 2200 sq/ft to 2500 sq/ft each. The project includes a full set of architectural drawings for a 3 and 4 story homes with a combined 14,164 sq/ft of living space built on a combined 16,591 sq/ft lot. The homes offer spectacular views perched over the Silver Lake Hills. Each duplex boasts two 3 bedroom and 2 bath homes with an attached garage and rooftop deck. The development is an ideal project for a developer looking to establish and expand their strategic interest in one of the hip DTLA/Echo Park adjacent areas in Los Angeles. INVESTMENT HIGHLIGHTS: Rents are potentially $6,500 per unit. Annual rent from each duplex will be potentially $156,000. The sale value of each duplex will potentially be between $2.5M to $3M when the project is complete. An investor will end up with a 3 property portfolio valued potentially between $7.5M - $9M. Silver Lake is one of LAs most desirable and growing neighborhoods abundant with arts, retail, employment centers and top entertainment venues of Los Angeles The duplexes offer tenants a central hub to all that Hollywood and Los Angeles has to offer.

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Based on information from CRISNet MLS as of 2022-10-01T19:57:07.14. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed.

The information being provided by the CSMAR MLS is for the visitor's personal, noncommercial use and may not be used for any purpose other than to identify prospective properties the visitor may be interested in purchasing. The data contained herein is copyrighted by CSMAR or one of CSMAR's datashare partners, and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Any property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the CSMAR MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. The accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.

Based on information from the i-Tech MLS as of 2022-10-01T19:57:07.14. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
www.realestatetoolbox.com/homes/131243354
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2223 Fair Oak View Terrace Silver Lake, CA 90039

  • Price: $1,199,000
  • Status: Active
  • On Site: 67 Days
  • Updated: 53 min ago
  • ID#: SR22157813
0
Beds
0
Baths
0
½ Baths
0.38
Acres
Neighborhood:
C21 - Silver Lake - Echo Park
County:
Los Angeles
Area:
C21 - Silver Lake - Echo Park
Property Description
We are pleased to present a new development opportunity for the sale at 2219, 2223 and 2229 N. Fair Oaks View Terrace located in the Silver Lake area of Los Angeles. Included in the purchase price are three contiguous duplex-zoned parcels, with views of the beautiful Silver Lake hills, Dodger Stadium and Downtown Los Angeles. The tri-level homes range from 2200 sq/ft to 2500 sq/ft each. The project includes a full set of architectural drawings for a 3 and 4 story homes with a combined 14,164 sq/ft of living space built on a combined 16,591 sq/ft lot. The homes offer spectacular views perched over the Silver Lake Hills. Each duplex boasts two 3 bedroom and 2 bath homes with an attached garage and rooftop deck. The development is an ideal project for a developer looking to establish and expand their strategic interest in one of the hip DTLA/Echo Park adjacent areas in Los Angeles. INVESTMENT HIGHLIGHTS: Rents are potentially $6,500 per unit. Annual rent from each duplex will be potentially $156,000. The sale value of each duplex will potentially be between $2.5M to $3M when the project is complete. An investor will end up with a 3 property portfolio valued potentially between $7.5M - $9M. Silver Lake is one of LAs most desirable and growing neighborhoods abundant with arts, retail, employment centers and top entertainment venues of Los Angeles The duplexes offer tenants a central hub to all that Hollywood and Los Angeles has to offer.
Exterior Features

Lot Features Lot 10000-19999 Sqft Lot Size Area 16591.0000 View City Lights View YN Yes

Property Features

Additional Parcels Description 5422-012-016 & 5422-012-019 Additional Parcels YN Yes Association Fee 0.00 Association YN No Community Features Storm DrainsStreet Lights Land Lease YN No New Construction YN No Senior Community YN No Special Listing Conditions Standard Water Source Public Zoning Lar2

Listing provided courtesy of Anie Mayelian, CA DRE# 00778825, of Equity Union: 818-380-5100.


Based on information from CRISNet MLS as of 2022-10-01T19:57:07.14. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed.

The information being provided by the CSMAR MLS is for the visitor's personal, noncommercial use and may not be used for any purpose other than to identify prospective properties the visitor may be interested in purchasing. The data contained herein is copyrighted by CSMAR or one of CSMAR's datashare partners, and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Any property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the CSMAR MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. The accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.

Based on information from the i-Tech MLS as of 2022-10-01T19:57:07.14. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
 
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