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.
Property Details
Property Features
Listing Office:
Office Name: Miller & Desatnik Realty Co.
Office Phone: (310) 202-9166
Listing Agent: Gary Fox
Exterior Features
Exterior Information:
View: None
Lot Features
Lot Information:
Lot Size: 0.69 Acres
Other
Directions Information:
Directions: Located one block south of Venice Blvd. between Grand View Blvd. & Inglewood Blvd.
Price Information
Listing Price Info
Price Summary:
List Price: $10,895,000
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Housing Market Comparison
See how this home compares to others in Los Angeles, CA.
This property is $9.8M more than the Median Sold Price in Los Angeles, CA.
Based on homes sold in the last 12 months
MLS Details
MLS Information:
MLS Name: CRMLS
MLS Number: #23321909
Listing Office:
Office Name: Miller & Desatnik Realty Co.
Office Phone: (310) 202-9166
Listing Agent: Gary Fox
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
The information being provided by California Regional Multiple Listing Service, Inc. (“CRMLS”) is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Any information relating to a property referenced on this web site comes from CRMLS. Properties may or may not be listed by the office/agent presenting the information. Real estate listings held by brokerage firms other than this broker are marked with the Internet Data Exchange logo and detailed information about them includes the names of the listing brokers and listing agents. MLS search engine provided by IHR Technology Services. This data is updated every 2 hours. Some properties appearing for sale on this display may subsequently have sold and may no longer be available. Data displayed may be a portion of, and not a complete set of all listings published in the MLS. Last updated on: 12/22/2024, 6:20:58 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Property Sales & Tax
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Schools
Schools Nearby
The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.
We're sorry, we currently don't have assigned school data for this listing.
Nearby Schools
5
/10
Grand View Boulevard Elementary School
3951 Grand View Blvd
Distance between this listing and this school0.15 miles
Public District Grades KG-5
5
/10
Beethoven Street Elementary School
3711 Beethoven St
Distance between this listing and this school0.82 miles
Public District Grades KG-5
8
/10
Mar Vista Elementary
3330 Granville Ave
Distance between this listing and this school0.86 miles
Public District Grades KG-5
Nearby Schools
7
/10
Icef Vista Middle Academy
4471 Inglewood Blvd
Distance between this listing and this school0.91 miles
Public Charter Grades 6-8
5
/10
Mark Twain Middle School
2224 Walgrove Ave
Distance between this listing and this school1.10 miles
Public District Grades 6-8
2
/10
Marina Del Rey School
12500 Braddock Dr
Distance between this listing and this school1.26 miles
Public District Grades 6-8
Nearby Schools
2
/10
Phoenix Continuation
12971 Zanja St
Distance between this listing and this school0.84 miles
Public District Grades 9-12
7
/10
Venice High School
13000 Venice Blvd
Distance between this listing and this school0.99 miles
Public District Grades 9-12
8
/10
Culver City High School
4401 Elenda St
Distance between this listing and this school1.55 miles
The neighbors living near this home have an average income of $38,943. Typical income of Los Angeles, CA residents is between $35k-100k annually. Residents typically live in single, no kids family. Most residents in this area have post secondary degree education.
All data provided by Home Junction and Claritas
Frequently Asked Questions About 12124 Pacific Ave
What is the listing price of this property?
The listing price of 12124 Pacific Ave property is $10,895,000.
What type of property is this?
The property 12124 Pacific Ave is land located in Los Angeles, California, 90066.
Is this property for sale now?
Active Listing: 12124 Pacific Ave is For Sale (Active/New) which means the seller is accepting offers.
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This home is located at 12124 Pacific Ave in Los Angeles, CA and zip code 90066 in the South Mar Vista neighborhood. This home sits on a 0.69 acre lot. It has been listed on Rocket Homes since October 17, 2023 and is currently priced at $10,895,000.
In November 2024 more than 512 listings in Los Angeles, CA were sold above the asking price. During the same period more than 177 listings were sold at asking price, while more than 657 were sold below. The inventory of homes for sale in Los Angeles, CA between October 2024 and November 2024 decreased by 0.6%. While the average time on the market in November 2024 was 38 days, the median list price was $1,021,532.
From Rocket Homes Real Estate and based on county public records data.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. 
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