CA > Los Angeles
Los Angeles, CA 90066,12124 Pacific AVE
REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
Rick Lee

Rick Lee

+1(714) 943-1598
$ 10,895,000
Est. payment /mo
Save
Active

12124 Pacific AVE Los Angeles, CA 90066

0.69 Acres Lot

UPDATED:

10/29/2024 05:46 PM

Key Details

Property Type Vacant Land

Listing Status Active

Purchase Type For Sale

MLS Listing ID 23321909

HOA Y/N No

Lot Size 0.689 Acres

Property Description

MAJOR PRICE REDUCTION!!! PRICE REDUCED $1,000,000!!! 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 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.

Location

State CA

County Los Angeles

Area C13 - Palms - Mar Vista

Zoning R3-1

Interior

Fireplace No

Exterior

View Y/N No

View None

Building

New Construction No

Others

Senior Community No

Tax ID 4235025032

Special Listing Condition Standard

California Regional MLS (CRMLS)
Listed by Gary Fox • Miller & Desatnik Realty Co.

Rick Lee

Team Leader | License ID: 02130981

+1(714) 943-1598

GET MORE INFORMATION

Name
Phone*
Message

By registering you agree to our Terms of Service & Privacy Policy. Consent is not a condition of buying a property, goods, or services.

Go tour this home

12124 Pacific AVE

QUICK SEARCH