9
See all 9 photos
$5,950,000
Est. payment /mo
0.38 Acres Lot
Active
12034 Venice Boulevard Los Angeles, CA 90066
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Key Details
Property Type Vacant Land
Sub Type Unimproved Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID CL24402237
HOA Y/N No
Lot Size 0.378 Acres
Acres 0.38
Property Sub-Type Unimproved Land
Property Description
We are proud to present for sale a 97 Unit Mixed Use Development opportunity in the downtown Mar Vista Submarket of West LA. 97 Units is the maximum density permitted under the recently adopted Citywide Housing Incentive Program (CHIP). This would be one of the most desirable buildings in Mar Vista, and is the lowest Price per Buildable Door in West LA. This presents a rare institutionally sized opportunity qualified for ministerial approval. Downtown Mar Vista is a highly desirable submarket, with over $6 per square foot rents. Residents can walk to the Mar Vista Farmers Market and numerous restaurants and Cafes.Using the recently enacted CHIP Ordinance, a Buyer can build a 97 unit project with no height limit, a 4:2:1 FAR, and no parking minimum. An 8 Story, 69,124 Square Foot Building could be constructed on the 16,458 Square Foot Lot. The finished building would offer unobstructed views on all sides, starting on the 3rd floor up the roof deck. The site is clear of power line issues and has no encroachment interferences. The project would qualify for a ministerial approval, straight to LADBS Plan Check. No entitlement process is needed. The project would not be subject to public hearings or appeals and is statutorily exempt from CEQA. There are no discretionary approvals that
Location
State CA
County Los Angeles
Zoning LAC2
Interior
Fireplace No
Exterior
View Y/N true
View Ocean
Building
New Construction No
Others
Tax ID 4235024006
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Listed by Oron Maher • Maher Commercial Realty