1562 S Fairfax Ave 0.16 Acres of Commercial Land Offered at $1,599,000 in Los Angeles, CA 90019

MAJOR PRICE DROP! Don't miss this rare opportunity to build a 20-unit multifamily project "Near RTI" in the highly sought-after Picfair Village neighborhood! Currently vacant land, you'll save approximately $70,000 in demolition costs with no tenant relocation required! This offering includes completed Architectural Plans, Structural Plans, Survey, Soils Report, and Landscape Plan, saving you both time and money in pre-construction. The approved design features a 5-story apartment building with one level of subterranean parking, perfectly suited for the area's strong rental demand. Subject property is zoned (Q)R3-1, TOC Tier 3, with a lot size of 6,886 sqft (55 by 125 ft). Also an excellent candidate for an ED-1 100% fully affordable project! Enjoy a central location just moments from local dining, shopping, and public transportation, ideal for future tenants seeking convenience and lifestyle. Minutes from the Grove, LACMA, the 10-Freeway, and more. Offered As-Is. Contact listing agent for more details or full set of plans. Seller makes no warranties or representations regarding the existing plans.