1255 S La Cienega Boulevard 4332028012
Los Angeles, CA, 90035
$3,995,000
Beds
0 Baths
SqFt
0.16 Acres
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We 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.
LISTING AGENT: Filip Niculete
LISTING BROKERAGE: Marcus & Millichap
1255 S La Cienega Boulevard 4332028012
Los Angeles, CA

Property Details

Price:
$3,995,000
MLS #:
24469861
Status:
Active
Baths:
0
Address:
1255 S La Cienega Boulevard 4332028012
Type:
Land
Neighborhood:
c19beverlycentermiraclemile
City:
Los Angeles
Listed Date:
Dec 5, 2024
State:
CA
ZIP:
90035
Lot Size:
7,019 sqft / 0.16 acres (approx)
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The Agency fully supports the Equal Housing Opportunity laws. The Agency IP Holdco, LLC and its parents, affiliates, subsidiaries, franchisees of its affiliates, and network partners make no representations, warranties, or guaranties as to the accuracy of the information contained herein, including square footage, lot size or other information concerning the condition, suitability or features of the property. All material is intended for informational purposes only and has been obtained from public records, MLS, or other sources believed to be reliable, but not verified. All prospective buyers should conduct a careful, independent investigation of the information and property, and consult with appropriate professionals, such as appraisers, architects, civil engineers, etc. CalDRE #01904054

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