Active

12124 Pacific Avenue

Los Angeles CA, 90066

$11,495,000


$383.15 per sqft

Active

0.69 Acres

Land

MAJOR PRICE REDUCTION!!! 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). 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 jobhubs. 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.

23321909

MLS ID

October 16, 2023

Listed

May 9, 2024

Updated

Map

12124 Pacific Avenue
Los Angeles CA, 90066

Exterior/Building Features

Lot Size

0.69 Acres

Other Property Details

Area Name

C13 - Palms - Mar Vista


Days on Market

181


Garage

No


Parking Total

0


View

No


View Description

None


County

Los Angeles


Pool

No


Zoning

R3-1


Buyer Agency Compensation

1.5%

Listed by Gary Fox, Miller & Desatnik Realty Co., CA DRE 00847295

Listing Contact: 310-202-9166 

Based on information from the CRISNet MLS as of 5/9/2024, 12:38 PM UTC. 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. The information being provided is for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

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