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12124 Pacific Avenue - 12124 Pacific Avenue
0.69 Acres of Residential Land Offered at $10,895,000 in Los Angeles, CA 90066
Investment Highlights
- Extremely rare development opportunity located in Mar Vista, one of the most high demand rental areas in all of Los Angeles.
- Owner can apply for additional density pursuant to the new State Law AB 1287. This will increase the density to 107 total units (86 Units + 21 ADUs)
- This 30,001 Sq. Ft vacant R3 zoned lot will feature an estimated 97,964 Sq. Ft. building with 92 Units (74 Units + 18 ADUs).
- Property is being sold with plans and is close to being RTI.
Property Facts
| Price | $10,895,000 | Property Type | Land |
| Sale Type | Investment | Property Subtype | Residential |
| No. Lots | 1 | Total Lot Size | 0.69 AC |
| Price | $10,895,000 |
| Sale Type | Investment |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Residential |
| Total Lot Size | 0.69 AC |
1 Lot Available
Lot
| Price | $10,895,000 | Lot Size | 0.69 AC |
| Price Per AC | $15,819,017 |
| Price | $10,895,000 |
| Price Per AC | $15,819,017 |
| Lot Size | 0.69 AC |
Description
MAJOR PRICE REDUCTION!!! PRICE REDUCED $1,000,000!!!Miller & Desatnik Realty Corp. is proud to present 12124 Pacific Avenue for sale - 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 107 total units (86 Units plus 21 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.
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $416,160 | |
| Land Assessment | $8,739,360 | Total Assessment | $9,155,520 |
PROPERTY TAXES
zoning
| Zoning Code | R3-1 (Commercial) |
| R3-1 (Commercial) |
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Gary Fox -
Miller & Desatnik Realty Corp.
Presented by
12124 Pacific Avenue - 12124 Pacific Avenue
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