High-Income Fairfax Triplex with TOC Tier 3 Development Upside: Experience the vibrant Los Angeles lifestyle in this stylish Spanish-style triplex, just a short stroll from The Grove, Pan Pacific Park, and some of the hottest restaurants along Melrose Avenue and Beverly Boulevard. This well-preserved property features three units, each with… Read More rare individual outdoor spaces and lush landscaping. The front house is an inviting 2-bedroom, 2-bathroom Spanish bungalow, complete with a fully equipped kitchen and a charming breakfast/office nook. Enjoy two beautiful outdoor areas adorned with mature bougainvillea and a flourishing lemon tree, perfect for relaxing or entertaining. The middle unit boasts a bright living room, dining area, and a primary bedroom with an ensuite bathroom, plus a cozy second bedroom that opens onto a private patio, ideal for al fresco dining. Nestled atop the Spanish duplex, the delightful third unit features a spacious balcony with lovely views of the hills. Enter through the balcony to discover a versatile bonus room, perfect for a home office or relaxation space. The kitchen opens to the living area, and the bedroom includes a large walk-in closet and an ensuite bathroom with a tub/shower. Additional highlights include in-unit washer/dryers, dedicated off-street parking with two garages and three additional spaces in the shared driveway, a new sewer installed in 2024, and solar panels for the front unit. All units are currently earning market rents with newly signed leases for 2025/2026. The subject parcel carries a (TOC) Tier 3 designation on a 7,700 sf lot with no HPOZ, no historic protections, and no overlay restrictions. This represents a clean development-ready parcel for up to 6 units and 2 ADU's in the highly desirable Fairfax corridor. Critically, the property's existing income of $137,280 annually provides positive cash flow throughout the entitlement period, materially reducing carrying cost risk for a development buyer. Don't miss this opportunity to own a versatile property that meets both lifestyle and investment needs in a prime location. Read Less
Property listed by Pacifica Realty Management LA, Mary Anne Reyes 310-259-7556
Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. 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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