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Additional details
$ 4,300,000
Est. payment /mo
Active
0 Archwood Van Nuys, CA 91406
1.17 Acres Lot
UPDATED:
Key Details
Property Type Vacant Land
Sub Type Lots/Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID SR26216672
Lot Size 1.167 Acres
Property Sub-Type Lots/Land
Property Description
This 1.18 acre flat corner site is walking distance to one of Los Angeles largest recreation amenities; Sepulveda Basin. The development of multiple residential product typologies are possible on the site. By leveraging a litany of land use entitlement options including SB1123, SB9, AB1751, etc. to execute various permutations of the "townhome" one can develop attractive for-sale or BTR product. Additionally, dense forms of deed restricted apartments leveraging state bonus density policy are possible. No trees, tenants, or structures exist on this rare flat corner site. As one option to guide the market's expectation of yield, an architect versed in affordable housing has conducted a yield study affirming viability of a nearly 1:1 ratio grade-level parked (podium and surface) 132-unit type V apartment building with 132 comfortably sized units. Using the Citys Affordable Housing Incentive Program (AHIP) the project will be ministerially processed using Expanded Administrative Review.
Location
State CA
County Los Angeles
Direction west of 405 - Lake Balboa Neighborhood
Interior
Fireplace No
Exterior
View Y/N No
Others
Senior Community No
Tax ID 2231007025
Acceptable Financing Cash, Exchange
Listing Terms Cash, Exchange
Listed by Francis Evanisko, DRE#01790747 Evanisko Realty & Investment
NEARBY SCHOOL & BUSINESS
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