Description

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 J