A Premier Core Offering
nVe at Fairfax represents a rare opportunity to purchase a newly constructed Class-A, state-of-the art 63-unit luxury asset that is just steps from West Hollywood, a highly sought-after submarket with high barriers to entry that boasts some of the best demographics in all of LA County.
Rare Buying Opportunity
There have only been five (including nVe at Fairfax) 50+ unit multifamily assets delivered within a one-mile radius of the property since 2000 and only one has sold in the past 18 years (Fiona Apartments).
The average household income in the Property's zip code is $122,327, which is 19% higher than neighboring West Hollywood and 34% higher than the City of Los Angeles as a whole.
High Home Prices Drive Rental Demand
nVe at Fairfax is located between West Hollywood and prime Melrose/Fairfax area, two of the most desirable single-family home neighborhoods in Los Angeles County. With median home prices in the $1.9 million range, homeownership in this submarket is unattainable for most of the population, which results in strong demand for quality multifamily rental options.