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 3 contiguous lots which offer a developer an excellent opportunity to build three spacious duplexes. 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.