Active
12124 Pacific Ave
Los Angeles CA, 90066
$11,895,000
$396.49 per sqft
Active
0.69 Acres
Land
12124 Pacific Avenue is a phenomenal multifamily development site in the heart of the highly coveted neighborhood of Mar Vista. The property is being sold with plans and is close to being RTI. This is an extraordinarily rare opportunity to purchase an oversized 30,001 sq. ft. R3 Lot in a prime West Los Angeles location. The current plans allow a developer to construct a 97,964 sq. ft. 92 Unit building with an excellent unit mix consisting of: 1 Three Bedrooms + Three Baths, 1 Three Bedrooms + Two Baths, 32 Two Bedrooms + Two Baths, 7 Lofts with One Bedroom + Office + Two Baths, 34 One Bedroom + Office + One Bath, 17 - One Bedroom + One Bath. The 92 total units in the building include 18 ADUs as well as 11 Very Low Income Units. Owner can apply for additional density pursuant to the new State Density Bonus Law AB 1287. This will increase the density to 102 total units (82 Units plus 20 ADUs). The property is comprised of two lots with separate APN's that could be sold individually or together. Located within the heart of Mar Vista, this prime development site enjoys all the advantages of a thriving community. Nestled between the Pacific Ocean and vibrant urban centers, Mar Vista offers an idyllic coastal lifestyle with easy access to the city's amenities and job hubs. Known for its picturesque streets, green spaces, and proximity to Silicon Beach, Mar Vista continues to attract residents seeking a balanced urban-coastal lifestyle. Mar Vista's real estate market has shown remarkable resilience and growth. This multifamily site is a strategic investment that aligns perfectly with the demand for housing in the area and undoubtedly will seamlessly blend with the neighborhood's character, providing a living experience that enhances the vibrant Mar Vista community. OM is available upon request.
23-321909
MLSⓇ ID
October 16, 2023
Listed
August 23, 2024
Updated
Map
12124 Pacific Ave
Los Angeles CA, 90066
Exterior/Building Features
Lot Size
0.69 Acres
Other Property Details
Area Name
Palms - Mar Vista
Days on Market
302
Garage
No
View
No
View Description
None
County
Los Angeles
Pool
No
Zoning
R3-1
Listing History
Date | Event | Price |
---|---|---|
7/15/2024 | Price change | $11,895,000 3% |
12/8/2023 | Price change | $11,495,000 -11% |
Listed by Gary Fox with Miller & Desatnik Realty Co.
Listing Contact: 310-202-9166
Based on information from The MLSTM / Combined LA/Westside Multiple Listing Service, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use, it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information is deemed reliable but not guaranteed and should be independently reviewed and verified. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. All properties are subject to prior sale, change or withdrawal, and may or may not be listed by the office/agent presenting the information. Neither listing broker(s) nor Susan Coletti | CA DRE# 01939461 shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.
©2024 Combined L.A./Westside MLS. All rights reserved.
Data last updated 8/23/2024