12034 Venice Boulevard, Los Angeles, CA 90066

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 … read more …