12124 Pacific Avenue
Los Angeles, CA 90066
- – beds
- – baths
- – sqft
- ~3/4 acre lot
- – on site
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.
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Last updated Apr 14, 2024
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MLS# 23321909 —
This property is listed in more than one place. See it here.
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Transit Score®
Provided by WalkScore® Inc.
Transit Score measures a location's access to public transit. It is based on nearby transit routes frequency, type of route (bus, rail, etc.), and distance to the nearest stop on the route. Transit Scores range from 0 (Minimal Transit) to 100 (Rider’s Paradise).
Soundscore™
Provided by HowLoud
Soundscore is an overall score that accounts for traffic, airport activity, and local sources. A Soundscore rating is a number between 50 (very loud) and 100 (very quiet).
Sale history
| Date | Event | Source | Price | % Change |
|---|---|---|---|---|
|
12/8/23
Dec 8, 2023
|
Price Changed | CRMLS_CA | $11,495,000 | -10.2% |
|
10/16/23
Oct 16, 2023
|
Listed / Active | CRMLS_CA | $12,795,000 |