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… Read More 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 could stand in the way of this project. Financially, the project can allow a developer to generate a generous return based on reasonable assumptions for hard costs, soft costs, and rents. (Project includes 12028-12034 Venice Blvd. APN #4235-024-005 and #4235-024-006). Read Less
Courtesy of Maher Commercial Realty 310-464-1453
Listing Snapshot
Days Online
351
Last Updated
Property Type
Other
Lot Size
0.38 Acres
MLS Number
24-402237
30 Days Snapshot Of 90066
$2.42M
+27%
(avg) sold price
21
+23%
homes sold
46
-22%
(avg) days on market
Snapshot
Area Map
Additional Details
Disclosures
None
Lot
LotAcreage: 0.1876, LotSizeArea: 16,458
Miscellaneous
None
Property
Zoning: LAC2
Find The Perfect Home
'VIP' Listing Search
Whenever a listing hits the market that matches your criteria you will be immediately notified.
The information is for consumers' personal, non-commercial use and may not be used for any purpose other than identifying properties which consumers may be interested in purchasing.
Confirm your time
Fill in your details and we will contact you to confirm a time.
or message me directly
Find My Dream Home
Put an experts eye on your home search! You’ll receive personalized matches of results delivered direct to you.
Import This Listing
Import Completed
To view your listing, click one of the options below.
