11061 Venice Blvd

Great value-add or development opportunity in a prime West Los Angeles location.

Current rents are approximately 36% below market, offering immediate upside through repositioning. Alternatively, the property serves as a strong interim hold for a covered land play with significant future redevelopment potential. The existing improvements consist of two twin 8-unit apartment buildings (16 units total) built around a landscaped courtyard. Each building contains approximately 4,420 SF (8,840 SF combined), primarily comprised of smaller one-bed/one-bath units averaging 556 SF. The property sits on an oversized 18,783 SF lot with 16 open parking spaces, with room for additional parking spaces or other options. Priced at $213/SF for the land, this Property is zoned [Q] LAR3-1-O, Tier 3. This site allows for density with bonus to support the development of up to 48 units with a 4.5:1 FAR, which would allow approximately 84,500 buildable square feet. A new 6- to 7-story development could be built, with flexibility to allocate additional square footage for ADUs, amenities, or community rooms.

This home located at 11061 Venice Blvd is currently active and has been available on pardeeproperties.com for 8 days. This property is listed at $3,999,000. It has 16 beds and 16 bathrooms. The property was built in 1953. 11061 Venice Blvd is in the Palms - Mar Vista community of Los Angeles County.

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