We are pleased to present the exclusive listing 3123 Livonia Avenue, a prime 12,866 SF development site in the Palms neighborhood of West Los Angeles, located steps from the Robertson and National intersection at the gateway to Culver City and the Westside .The current vacant property offers a high-density redevelopment… Read More opportunity under Los Angeles' most advantageous housing incentive frameworks, including the Mixed-Income Incentive Program (MIIP) in combination with CHIP. This structure allows developers to significantly increase unit density, deliver a modern mixed-income apartment project, and benefit from zero parking requirements, substantially improving design efficiency and project economics. As a conceptual planning guide only, a MIIP + CHIP scenario may support approximately 12-13 units per residential floor. This assumes a gross floor plate is approximately 8,000 SF with net rentable roughly 6,400 SF per floor after reducing for hallways, staircases, etc. The first floor includes lobby area, trash room, and mail room; thus, reducing yield by roughly two units. Under this framework, total unit count could approximate 8289 units, with a potential mix of ~90% micro units and ~10% small three-bedroom units, while dedicating only a limited portion of units to affordability. Buyers should rely on their own independent analysis and expertise. Given the site's prime West LA location, proximity to transit, employment, and lifestyle amenities, MIIP + CHIP represents a best-in-class development strategy for capturing strong Westside rental demand while maximizing density and long-term value. AHIP/CHIP remains an alternative pathway for fully affordable projects, though the property's market fundamentals strongly favor a mixed-income, market-driven approach. Notable incentives include but not limited to: Unlimited Density. 45% increase in FAR, making it 4.35. 22 feet/2 story height increase to 67 feet, which can be further increased to 7 stories if 10% of the units are 3 bedrooms. Seven stories is the optimal approach. Affordability: 12% of the total units need to be ELI (Extremely Low Income). Additional incentives are available, such as reduced setbacks and common open space. Read Less
Property listed by Marcus & Millichap, Eliyahu Appel 310-259-7556
Listing Snapshot
Days Online
8
Last Updated
Lot Size
0.3 Acres
MLS Number
26657519
Additional Details
Lot
0.2954 acres
Taxes
Parcel Number: 4311027012, Zoning: R3-1
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Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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