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$ 2,950,000
Est. payment | /mo
0.3 Acres Lot
$ 2,950,000
Est. payment | /mo
0.3 Acres Lot
Key Details
Property Type Vacant Land
Sub Type Unimproved Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID CL26657519
HOA Y/N No
Lot Size 0.295 Acres
Acres 0.3
Property Sub-Type Unimproved Land
Property Description
We are pleased to present the exclusive listing 3123 Livonia Avenue, a prime 12,866 SF development site in the Palms neighborhood of West Los Angeles, located steps from the Robertson and National intersection at the gateway to Culver City and the Westside .The current vacant property offers a high-density redevelopment opportunity under Los Angeles' most advantageous housing incentive frameworks, including the Mixed-Income Incentive Program (MIIP) in combination with CHIP. This structure allows developers to significantly increase unit density, deliver a modern mixed-income apartment project, and benefit from zero parking requirements, substantially improving design efficiency and project economics. As a conceptual planning guide only, a MIIP + CHIP scenario may support approximately 12-13 units per residential floor. This assumes a gross floor plate is approximately 8,000 SF with net rentable roughly 6,400 SF per floor after reducing for hallways, staircases, etc. The first floor includes lobby area, trash room, and mail room; thus, reducing yield by roughly two units. Under this framework, total unit count could approximate 8289 units, with a potential mix of ~90% micro units and ~10% small three-bedroom units, while dedicating only a limited portion of units to affordability.
Location
State CA
County Los Angeles
Zoning R3-1
Interior
Fireplace No
Exterior
View Y/N false
View None
Building
New Construction No
Others
Tax ID 4311027012
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Listed by Eliyahu Appel • Marcus & Millichap
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Patrick Nagel
REALTOR® | Lic# 1760790