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listing
1 of 5
Residential IncomeFor Sale
$8,700,000
2216 Fox Hills Drive
Los Angeles, CA 90064
Listed by Eldad Shemtov DRE#01515743 es@primerealty.investments Prime Realty Team
MLS: California Regional MLS (CRMLS)
0Beds
2Baths
9,580Sq Ft
Est. Mortgage
$45,008/mo

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.

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