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1255 S La Cienega Blvd - Pico-Robertson | RTI Development | Mixed Use

0.16 Acres of Residential Land Offered at $5,662,593 CAD in Los Angeles, CA 90035

Investment Highlights

  • 7,019± SF of Vacant Lot Zoned C2-1-O
  • 30 Apartment Units + Medical Office
  • Great Mix of 1, 2, & 3-Bedroom Units
  • RTI Project | Mixed Use Development
  • Sleek, Attractive Design with Contemporary Aesthetics
  • Demo Completed - Ready for Construction

Executive Summary

The LAAA Team and The SK Group of Marcus & Millichap are excited to present a unique opportunity to acquire a prime 7,019-square-foot parcel of vacant land located at 1255 S La Cienega Blvd, just north of Pico Blvd.
This project is ready for immediate construction, as the plans have been fully approved and are RTI (Ready to Issue). The previous structure on the lot has already been demolished, allowing for a swift construction start date. This development will feature medical office space on the ground floor and 30 residential apartment units above, with three units designated for Extremely Low Income (E.L.I.) tenants. Additionally, the project includes a subterranean parking garage, providing ample parking for both residents and commercial tenants.
The owner initially intended to occupy the property, which led to a strong focus on keeping construction and maintenance costs low without sacrificing quality. All the apartment units feature 9-foot ceilings, rather than the standard 8-foot ceilings, creating a brighter, more open, and spacious feel. Additionally, the tallest building on La Cienega Blvd is only two stories high, while all apartments in this RTI project start on the third floor and above. This design ensures that almost all units will have unobstructed views, including direct views of the iconic Hollywood Sign, making the property highly desirable.
Located in the highly sought-after Pico-Robertson neighborhood, this property provides direct access to the vibrant La Cienega corridor and is just minutes from Beverly Hills. This prime location is ideal for both residential and commercial development. Additionally, the upcoming Metro station at Wilshire and La Cienega will offer convenient public transportation options for tenants and visitors to the medical office.

Data Room Click Here to Access

Property Facts

Price $5,662,593 CAD
Sale Type Investment
No. Lots 1
Property Type Land
Property Subtype Residential
Total Lot Size 0.16 AC

1 Lot Available

Lot

Price $5,662,593 CAD
Price Per AC $35,142,136 CAD
Lot Size 0.16 AC

7,019 square foot lot near the intersection of La Cienega Boulevard and West Pico Boulevard.

Walk Score ®
Very Walkable (89)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
4332-028-012
Land Assessment
$2,968,536 CAD
Improvements Assessment
$0 CAD
Total Assessment
$2,968,536 CAD

zoning

Zoning Code C2 (Tier 3 TOC)
C2 (Tier 3 TOC)
  • Listing ID: 34102720

  • Date on Market: 2024-12-05

  • Last Updated:

  • Address: 1255 S La Cienega Blvd, Los Angeles, CA 90035

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