2216 Fox Hills Drive

Los Angeles CA 90064

9580 sq. ft.

18847 sq. ft.

Other

Currently for sale - view listing

Overview

The listing includes two lots to the north of the subject property, totaling close to 19,000 square feet of land zoned LAR3 with Tier 3 designation. The three parcels come with four tenant-occupied units. The seller has in place plans to build a 40-unit condominium project, utilizing the Tier 3 designation for additional units, higher Floor Area Ratio (FAR), and reduction in side yards and open space. The proposed building area exceeds 60,000 square feet, with a resale value of $52 million for the entire project or $60 million for individual units. Alternatively, the buyer can choose to build close to 50 units apartment building with a rental value of over $4 per square foot. The property is located in the coveted area of Century City, surrounded by high-end neighborhoods. It sits directly behind the Fox Studio lot, which is undergoing a $1.5 billion renovation project, and is within walking distance to Westfield Century City, golf courses, and parks. The property is centrally located near the employment center of Century City, UCLA, and tech companies, and enjoys a quiet street with pristine views.

Features

2 bathrooms

9580 sq. ft. floor area

18847 sq. ft. lot size

Other

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