Thank you
Martin Ensbury
Lyon Stahl Investment Real Estate, Inc.
310-425-9838
DEVELOPERS DREAM- 2007 Colby Ave. is a corner lot and 1 of 9 parcels included in the FK Nursery Development Portfolio. This is a once in a lifetime development opportunity located in the heart of the Sawtelle district of West Los Angeles. The total offering consists of 9 parcels, all zoned LAR2, totaling approximately 111,311 sq. ft. 7 of the 9 parcels are contiguous, and the remaining 2 parcels are contiguous on the East side of Colby Ave. 2007 Colby Ave. is a 15,699 sq. ft. parcel currently being used by F.K. Nursery, a family-owned and operated nursery business that has been a staple of the Sawtelle neighborhood since 1939. F.K. Nursery is truly a California landmark! The nursery will close in July of 2024. The other properties included in this portfolio are: 2026 Colby Ave., 2027 Colby Ave., 2031 Colby Ave., 2035 Colby Ave., 2045 Colby Ave., 2020 Federal Ave., 2020 Colby Ave., and 2024 Federal Ave. Rarely does a piece of residential land (LAR2) of this magnitude come along in one of Los Angeles’ most desirable westside neighborhoods. Over the past five years, there have been a number of new construction “two-on-a-lot” developments in the immediate vicinity of the subject properties. However, given the size of the contiguous properties, a developer should also be able to obtain bonus density and build a substantial number of for-sale townhomes on the property or large apartment building(s). The subject property is located between Federal Ave. and Colby Ave, South of La Grange Ave., and North of Mississippi Ave. Uniquely located less than half a mile from historic Sawtelle Japantown. Sawtelle Blvd. is widely renowned as one of the best streets for food in all of Los Angeles, featuring a myriad of different restaurants including Tsujita LA, Chichikurin, Daikokuya, Menya Tigre, Sonoritas Prime Tacos, Hermanito, and many others. Due to the incredible restaurants, this area has some of the best foot traffic in all of Los Angeles. The property also benefits from direct access to the 405 and 10 freeways which are located just minutes away, as well as the proximity to UCLA and the upscale Santa Monica shopping and beaches. Included as a Supplement to this listing is the Offering Memorandum with a Feasibility Study, which includes a plat map with addresses, conducted by a top architecture firm, Ennead Architects, along with a corresponding Land Use Assessment prepared by Somos Law Group, who specializes in land use and real estate transactions.
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Lot Dimensions Source: Vendor Enhanced
Lot Size Acres: 0.3604
Lot Size Source: Assessor
Lot Size Square Feet: 15699
Original List Price: 4,240,000
Listing Contract Date: 2024-04-16
Listing Agreement: Exclusive Right To Sell
Parcel Number: 4261037001
Lease Term: Negotiable
Source Listing Status: Active
Source Neighborhood: WLA - West Los Angeles
Directions: Colby Ave, South of La Grange Ave., and North of Mississippi Ave.
Zoning: LAR2
Source Property Type: Land
Area: WLA - West Los Angeles
Year Built Source: Vendor Enhanced
Address | Estimate | Bed | Bath | Sq. Ft | Lot Size |
---|---|---|---|---|---|
1930 S Beverly Glen Bou.., Los Angeles, CA,90025 | $1,000,007 | 2 | 3 | 1,527 | 17250 Sqft |
10935 Missouri Avenue #B, Los Angeles, CA,90025 | $2,195,000 | 4 | 3 | 3,413 | 6551 Sqft |
11750 Wilshire Boulevar.., Los Angeles, CA,90025 | $20,000 | 2 | 2 | 1,129 | 1351 Sqft |
1233 Barry Avenue #201, Los Angeles, CA,90025 | $2,650 | 2 | 1 | 900 | 13547 Sqft |
1826 S Bundy Drive, Los Angeles, CA,90025 | $4,600,000 | 16 | -- | 8,400 | 6103 Sqft |
10786 Missouri Avenue, Los Angeles, CA,90025 | $4,300,000 | -- | -- | 7,658 | 7430 Sqft |
1870 Kelton Avenue #101, Los Angeles, CA,90025 | $1,050,000 | 2 | 2 | 1,665 | 12972 Sqft |
1656 Sawtelle Boulevard, Los Angeles, CA,90025 | $3,995,000 | -- | -- | -- | 7005 Sqft |
1234 S Saltair Avenue, Los Angeles, CA,90025 | $3,655,000 | -- | -- | 6,840 | 6878 Sqft |
1955 1/2 Purdue Avenue, Los Angeles, CA,90025 | $2,675,000 | 3 | 3 | 3,913 | -- |
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ByOwner last updated this listing 05/05/2024 @ 23:20
MLS: SB24074875
LISTED BY: Martin Ensbury, Lyon Stahl Investment Real Estate, Inc.
SOURCE: CRMLS
Buyer Agency Compensation: 2%
Buyer Agency Description: The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed and if applicable, to participants of reciprocating MLS's as set forth in Association/MLS reciprocal agreements.