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$10,895,000
26865499 MLS ⋅ Active Status
We are pleased to present 1126 Corning Street, an exceptional Ready-to-Issue (RTI) luxury 50-unit multifamily development opportunity located in the heart of Pico-Robertson, one of Los Angeles' most desirable and supply-constrained residential neighborhoods. Offered at $10,895,000, the property provides developers with the rare ability to immediately commence construction on a fully entitled luxury apartment community without the uncertainty, extended timeline, and significant carrying costs associated with the entitlement process. Situated on approximately 19,736 square feet of land, the project has received Ready-to-Issue permits for a thoughtfully designed 50-unit luxury multifamily community. The approved unit mix includes 1 studio, 9 one-bedroom, 16 two-bedroom, and 24 three-bedroom residences, complemented by 76 on-site parking spaces. The predominance of larger two- and three-bedroom units differentiates the project from traditional multifamily developments and positions it to meet the continued demand for spacious, luxury rental housing. One of the compelling attributes of this offering is that the existing improvements are 100% vacant, eliminating the substantial cost and delays associated with tenant relocation. Upon acquisition, a developer can proceed directly to demolition and construction, significantly reducing execution risk while accelerating the development timeline. Pico-Robertson has long been recognized as one of Los Angeles' premier residential neighborhoods, characterized by its affluent demographics, walkable streets, excellent schools, and vibrant mix of restaurants, cafs, retail, and neighborhood services. The area's central location continues to attract professionals, families, and long-term residents seeking convenient access to the city's premier employment centers while maintaining a true neighborhood atmosphere. The combination of strong rental demand, limited development opportunities, and exceptionally high barriers to new supply has made the neighborhood one of the most resilient multifamily investment markets in Southern California.Ideally located just West of the intersection of Pico Boulevard and La Cienega Boulevard, the property provides exceptional connectivity to many of Los Angeles' most desirable neighborhoods, including Beverly Hills, Beverly Grove, Beverlywood, Miracle Mile, Century City, Culver City, West Hollywood, and the greater Westside. Residents will enjoy convenient access to world-class shopping and dining, major employment centers, renowned medical institutions, and an extensive transportation network including the Metro D Line extension and Interstate 10, offering seamless connectivity throughout the region.With entitlement risk substantially eliminated, immediate development capability, a fully vacant site, and an irreplaceable infill location, 1126 Corning Street represents one of the premier multifamily development opportunities currently available in the Los Angeles market. The combination of RTI status, a differentiated luxury unit mix, exceptional neighborhood fundamentals, and immediate execution potential creates a rare opportunity to deliver a best-in-class multifamily community in one of the city's most sought-after rental markets. Contact the listing broker for additional information.

1126 S Corning Street, Los Angeles
$2,495,000
SB25252593 MLS ⋅ Active Status
*DEVELOPMENT OPPORTUNITY* We proudly present 350 N Hayworth Ave—a prime redevelopment opportunity located in the heart of Beverly Grove, 90048. The property currently features a vacant, fire-damaged 4-unit building totaling 5,070 square feet and is ready for demolition. Sitting on a 7,526 square foot LAR4-zoned lot, the site benefits from an SB-8 exemption, as it has remained unoccupied for over five years. This exemption opens the door to a range of development options that do not require the replacement of low-income housing. Almost RTI-approved plans include a 20-unit multifamily project consisting of 16 one-bedroom, one-bathroom units and 4 two-bedroom, two-bathroom units, with three designated as Extremely Low Income (ELI). There is flexibility to relocate the affordability covenant as long as the overall bedroom count remains equivalent. Alternative development scenarios include a small lot subdivision supporting four to six single-family homes or a 100% affordable housing project under Executive Directive 1 (ED1). This site represents a rare blank canvas in one of Los Angeles' most sought-after neighborhoods, offering strong potential for a range of high-value development strategies. Reach out for Offering Memorandum & Feasibility Study.

350 N Hayworth Avenue, Los Angeles

Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.