2020 Colby Avenue

Description

DEVELOPERS DREAM- 2020 Colby Ave. is 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. 2020 Colby Ave. is a 10,995 sq. ft. parcel with a SFR 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 as of July of 2024. This is 1 of 2 parcels located on the East side of Colby Ave. The other properties included in this portfolio are: 2007 Colby Ave., 2026 Colby Ave., 2027 Colby Ave., 2031 Colby Ave., 2035 Colby Ave., 2045 Colby Ave., 2020 Federal Ave., and 2024 Federal Ave. Can be sold seperately! Rarely does a piece of residential land of this magnitude come along in one of Los Angeles’ most desirable westside neighborhoods. There have been a number of recent 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 on Colby Ave, South of La Grange Ave., and North of Mississippi Ave. The property benefits from its unique location in the center of the Sawtelle district, less than half a mile from the 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. 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.

Listing information courtesy of: Martin Ensbury, Lyon Stahl Investment Real Estate, Inc. . *Based on information from the Association of REALTORS/Multiple Listing as of 09/19/2024 and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. 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.