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3123 Livonia Ave - Development Opportunity with Income - Palms 0.3 Acres of Residential Land Offered at $3,250,000 in Los Angeles, CA 90034
INVESTMENT HIGHLIGHTS
- General Plan Land Use: Medium Residential
- AB2334 / AB2097: Yes
- Mixed Income Incentive Programs: Transit Oriented Incentive Area 2
- Specific Plan: Exposition Corridor Transit Neighborhood Plan
- Transit Oriented Communities: Tier 3
- TCAC Opportunity Area: Highest
PROPERTY FACTS
| Price | $3,250,000 | Property Subtype | Residential |
| Sale Type | Investment | Proposed Use | |
| No. Lots | 1 | Total Lot Size | 0.30 AC |
| Property Type | Land | ||
| Zoning | R3-1 Tier 3 | ||
| Price | $3,250,000 |
| Sale Type | Investment |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Residential |
| Proposed Use | |
| Total Lot Size | 0.30 AC |
| Zoning | R3-1 Tier 3 |
1 LOT AVAILABLE
Lot
| Price | $3,250,000 | Lot Size | 0.30 AC |
| Price Per AC | $11,002,552.59 |
| Price | $3,250,000 |
| Price Per AC | $11,002,552.59 |
| Lot Size | 0.30 AC |
DESCRIPTION
Marcus & Millichap is pleased to present 3123 Livonia Avenue, a prime ±12,830 SF parcel located in the Palms neighborhood of Los Angeles, CA. 3123 Livonia presents an exceptional TOC development opportunity. This nearly 13,000 SF R3-1, Tier 3 lot is primed for transformation into a transit-oriented apartment community. Just steps from the Robertson and National intersection, the site sits at the gateway to Culver City and Palms—an area undergoing a dynamic revitalization that is quickly becoming one of Los Angeles’ most coveted residential and entertainment districts. Current ownership had previously drafted plans which are now expired for 29 units (including three affordable). A new developer may choose to increase the proportion of larger units or alternatively leverage the TOC 0.5 parking-space-per-unit guidelines to utilize on-grade or semi-subterranean parking and further optimize the building design. This prime, transit-proximate development site is ready for a visionary builder to bring a high-quality project to life.
PROPERTY TAXES
| Parcel Number | 4311-027-012 | Improvements Assessment | $836,637 |
| Land Assessment | $2,509,917 | Total Assessment | $3,346,554 |
PROPERTY TAXES
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3123 Livonia Ave - Development Opportunity with Income - Palms
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