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.
Dave Miller
Miller & Desatnik Realty Corp.
