
Los Angeles, California 90291
This property presents a High-Potential Investment Opportunity with a List Price of $2,900,000—positioned well below the $2,627,589 Fair Market Value by -10%. As a rare land play with a Condition Rating of 6, the existing 1908 structure serves as a placeholder for multi-unit zoning development. Located steps from Venice Beach and Abbot Kinney, this asset offers significant upside for Real Estate Developers and Institutional Investors seeking to capitalize on one of Los Angeles's most supply-constrained coastal markets.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 615 San Juan Avenue Subject 3 bd · 1 ba · 1,486 sqft · $1,768 | $2,900,000* List Price | 3 | 1 | 1,486 | $1,768 | - |
A 721 Milwood Ave Active Under Contract 2 bd · 2 ba · 1,396 sqft · $1,504 · 0.2 mi | $2,100,000 List Price | 2 | 2 | 1,396 | $1,504 | 0.2 mi |
* Subject property listed price vs sold prices of comps.
Property is land value only, full reconstruction required.
Built in 1908 and on the market for the first time in 90 years, the listing explicitly states this is a 'land play' rather than a home sale. The structure is over 115 years old with no recorded renovations, offered 'as-is' specifically for its multi-unit development potential.
Situated steps from Venice Beach and the iconic Abbot Kinney Boulevard, the property offers unparalleled access to world-class dining, shopping, and the Silicon Beach tech hub.
The multi-unit zoning unlocks significant investment potential, allowing for the construction of a luxury multifamily complex or a high-end residential flagship in a supply-constrained market.
Available for the first time in 90 years, this 'land play' represents a unique opportunity to acquire a significant parcel in one of Los Angeles's most coveted and historically stable coastal zip codes.
Marketed strictly as a land opportunity, the existing 1908 structure likely requires demolition or a complete overhaul, adding to the initial capital expenditure.
With a list price of $4.7 million for a 5,213-square-foot lot, the high cost of entry necessitates a sophisticated development strategy to ensure a competitive return on investment.
VENICE BEACH | FIRST TIME ON MARKET IN 90 YEARS. This is a once-in-a-generation land opportunity in one of LA's most coveted coastal neighborhoods. This isn't a home sale. It's a land play in one of Los Angeles's most in-demand zip codes, where beachfront adjacency, multi-unit zoning, and an address surrounded by an iconic beach, a globally recognized dining and shopping corridor, unique architecture, and proximity to Silicon Beach make this the kind of opportunity that serious investors wait lifetimes for. THE LOCATION IS THE ASSET. Steps from Venice Beach, this parcel sits at the intersection of Abbot Kinney Boulevard, which boasts boutique restaurants, upscale groceries, design studios, and independent retailers that define the neighborhood's cultural cachet. California St. and Abbott Kenny round out a walkable area that draws tourists and renters year-round. Located to the north, Santa Monica is just minutes away, with Marina del Rey to the south, along with freeway access via the 90. LAX is a 20-minute drive (no traffic), vital for tenants and buyers who frequently travel. A CAN'T-MISS OPPORTUNITY. Multi-unit zoning unlocks the full potential of this lot, whether your vision is a luxury multifamily build, an income-generating real estate portfolio, or a flagship residential project designed for the discerning buyer. Properties with this zoning, in this location, and at this price point don't wait and sell fast. THE BOTTOM LINE. Land this close to the beach, in a neighborhood this sought-after, with this kind of development potential is now on the market after nearly a century. OFFERED AS-IS.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 3.0 | 3.0 |
| Baths | 1.0 | 2.0 |
| Square foot | 1,486 | 1,675.469 |
| Lot Size | 5,213 | 6,126.393 |
| Price | $2.90M | $1.34M |
| Price per sq ft | $2.0K | $800 |
| Built year | 1908 | 1941 |
| HOA | $0 | $262 |
| Days on market | 93 | 56 |
Oct 8, 2026
$2,900,000
$3,500,000
-17% Price Drop
Initial Listing
Aug 30, 2026
$3,500,000
$4,700,000
-26% Price Drop
Initial Listing
Jul 23, 2026
$4,700,000
Initial Listing