12034 Venice Boulevard, Los Angeles, CA 90066 - Berkshire Hathaway HomeServices California Properties
Phone949-212-2023
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12034 Venice Boulevard, Los Angeles, CA 90066

$5,950,000 Approx. USD 0 beds, 0 baths

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Listing Agent


Oron Maher | oron@mahercr.com
Lic#: 01299093
Broker: Courtesy of Maher Commercial Realty

Agent Remarks

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 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).

Listing Details

Property type: (Lots/Land)
Status: Active
MLS# 24402237
List price is $5,950,000 Reduced by $345,000 on 5/22/2025
Price: $5,950,000
Beds: 0
Baths: 0
0.38 acres
Lot size: 0.3778
County: Los Angeles
Zoning: LAC2
MLS area: C13 - Palms - Mar Vista

Last Updated: 5/28/2025

 Days On Market (DOM): 407

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This listing belongs to the C13 - Palms - Mar Vista MLS area

Lat/Long: 34.005310, -118.429612.
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DISCLAIMER: There is NO WARRANTY, expressed or implied, for the accuracy of this information or its applicability to your financial situation. Please consult your financial and/or tax advisor. GET PRE-APPROVED The loan's interest rate will depend upon the specific characteristics of the loan transaction and credit profile up to the time of closing.

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