2223 Fair Oak View Terrace, Silver Lake, CA 90039

$1,199,000
List Price
$1,199,000
Status
ACTIVE
MLS#
SR22157813
Lot Size
16,591
Acres
0.3809
Days on Market
72
Property Type
Land

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 LA’s 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.

Additional Information

View
City Lights
Water
Public
Attached Structure
Detached

Listing courtesy of Listing Agent: Anie Mayelian (anie@mayeliangroup.com) from Listing Office: Equity Union.

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Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.