1126 S Corning St

Priced at $9,995,000, 1126 S Corning Street offers developers a rare chance to immediately start building a luxury apartment community. The property is fully entitled with Ready-to-Issue (RTI) permits, completely eliminating the time, risk, and significant carrying costs usually required to clear the municipal approval process. The project sits on an approximately 19,736-square-foot lot and features a thoughtfully designed 50-unit luxury building. The approved layout includes 1 studio, 9 one-bedroom, 16 twobedroom, and 24 three-bedroom apartments, complemented by 76 on-site parking spaces. By prioritizing larger two- and three-bedroom layouts, the development stands out from traditional apartments and directly targets the high demand for spacious luxury rentals. A major advantage of this offering is that the existing site structures are 100% vacant. This eliminates the substantial expenses and long delays typically associated with tenant relocation. Upon acquisition, a developer can proceed straight to demolition and construction, lowering execution risks and accelerating the timeline. The property is located in Pico-Robertson, long recognized as one of Los Angeles' premier residential neighborhoods. The area is characterized by affluent demographics, walkable streets, excellent schools, and a vibrant mix of restaurants and retail. High barriers to new supply and strong rental demand make this neighborhood one of the most resilient multifamily investment markets in Southern California. Ideally situated just west of the Pico and La Cienega Boulevard intersection, the location provides exceptional connectivity to Beverly Hills, Century City, West Hollywood, and the greater Westside. Future residents will enjoy convenient access to major employment hubs, premier shopping, renowned medical institutions, and regional transit options like the Interstate 10 and the Metro D Line extension.