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1015 Venice Blvd - 1015 Venice Boulevard 0.3 Acres of Commercial Land Offered at $6,495,000 in Venice, CA 90291
Investment Highlights
- Fully entitled and permit-ready development site in Venice, CA.
- Includes approximately $450,000 in paid architectural, structural, and MEP plans and city permit costs.
- Prime Westside location near the beach, major employment centers, and lifestyle amenities.
- Approved plans for a five-story, 56-unit multifamily community with subterranean parking.
- Attractive pricing at $529 per land SF and $123,125 per buildable unit.
- Unit mix includes 50 market-rate units and six affordable set-asides for compliance and market appeal.
Executive Summary
The property’s strategic location offers exceptional connectivity to Silicon Beach, Santa Monica, Culver City, and Downtown Los Angeles, making it highly attractive to renters seeking a live-work-play lifestyle near the coast. Surrounded by premier dining, retail, and cultural amenities, this site is positioned to capture strong demand and premium rents.
Priced at $6,495,000, this offering includes approximately $450,000 in paid plans and permits, delivering immediate value and reducing development risk. With 50 market-rate units and six affordable set-asides, this project combines strong revenue potential with compliance advantages, making it an ideal investment for developers looking to capitalize on the Westside’s robust multifamily market.
Property Facts
| Price | $6,495,000 | Property Subtype | Commercial |
| Sale Type | Investment | Proposed Use | |
| No. Lots | 1 | Total Lot Size | 0.30 AC |
| Property Type | Land | Year Built | 1932 |
| Zoning | LAR4 - Multiple Dwelling Zone; High Density | ||
| Price | $6,495,000 |
| Sale Type | Investment |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Commercial |
| Proposed Use | |
| Total Lot Size | 0.30 AC |
| Year Built | 1932 |
| Zoning | LAR4 - Multiple Dwelling Zone; High Density |
1 Lot Available
Lot 1
| Price | $6,495,000 | Lot Size | 0.30 AC |
| Price Per AC | $21,828,704.33 |
| Price | $6,495,000 |
| Price Per AC | $21,828,704.33 |
| Lot Size | 0.30 AC |
0.3 AC of level, previously-developed land with {Q}R4-1XL zoning, ready for redevelopment.
Description
Located at 1015 Venice Blvd in the heart of Venice, CA, this 12,961-square-foot lot offers a fully entitled, shovel-ready development opportunity in one of Los Angeles’ most desirable Westside neighborhoods. All permits have been issued and paid for, allowing construction to begin immediately without delays or redesign cycles. The approved plans call for a contemporary five-story multifamily community with 56 residential units elevated above one level of subterranean parking. The thoughtfully designed unit mix includes 15 studio units (389–422 SF), one Extremely Low-Income (ELI) studio (417 SF), 33 one-bedroom units (541–664 SF), five Low-Income (LI) one-bedroom units (526–549 SF), one one-bedroom plus den (549 SF), and one LI one-bedroom plus den (549 SF). The project incorporates 50 market-rate units and six affordable set-asides, ensuring compliance with local housing requirements while maximizing revenue potential. This rare development site is positioned in a vibrant, high-demand area known for its walkability, proximity to the beach, and access to major employment hubs. The property is priced at $6,495,000, equating to approximately $529 per land square foot and $123,125 per buildable unit. Included in the offering are approximately $450,000 in paid architectural, structural, and MEP plans, as well as city permit costs, providing significant upfront value to the buyer.
Property Taxes
| Parcel Number | 4242-001-028 | Improvements Assessment | $1,006,223 |
| Land Assessment | $2,781,920 | Total Assessment | $3,788,143 |
Property Taxes
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1015 Venice Blvd - 1015 Venice Boulevard
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