12034 Venice Blvd Los Angeles, CA 90066-3893

This exceptional 16,420 sq ft land parcel in Los Angeles, CA (90066), presents a rare opportunity to develop a lucrative 72-unit mixed-use building. Located at 12034 Venice Blvd, the property boasts a C2 TOC 2 zoning designation and includes preliminary plans for an eight-story structure, ready for ministerial approval. The design incorporates 65 market-rate units and 7 income-restricted units, fulfilling a low set-aside requirement. Parking is ample, with 85 spaces, including 41 subterranean and 44 above-grade stalls. The ground floor features approximately 800 sq ft of cafe space and 800 sq ft of restaurant space, capitalizing on the vibrant retail corridor. Residential amenities include a gym, courtyard, storage, bicycle parking, a rooftop deck with a pool and pickleball court, and stunning views of the city, mountains, and ocean. The project's net rentable area is 42,223 sq ft, with a zoning floor area of 53,371 sq ft. The asking price is $6,295,000, representing a price per buildable door of approximately $87,430 and a price per square foot of land at $383. The property is exempt from CEQA and offers a streamlined entitlement process, with the potential for approval within 12 months via a parallel plan check. Currently, the existing buildings generate approximately $29,000 in gross monthly income from short-term and month-to-month tenancies. APN: 4235-024-005 and 4235-024-006.