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$1,595,000
Est. payment /mo
0.25 Acres Lot
UPDATED:
Key Details
Property Type Vacant Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID 26103044
Lot Size 0.253 Acres
Acres 0.1266
Property Description
JUST LISTED! Exceptional opportunity to acquire an approximately 11,095 SF flat corner development site in Van Nuys, offered at $1,595,000 (approximately $144/SF). Zoned RD1.5 and located within TOC Tier 3, the property offers excellent potential for multifamily development. Located within CHIP's Transit Oriented Incentive Area (TOIA) Tier 2, offering potential development incentives for qualifying mixed-income housing projects. The site should clear SB 8 and may also be a candidate for 100% affordable housing development under Executive Directive 1 (ED 1), subject to City review and buyer verification. Located within a Qualified Opportunity Zone, offering potential federal tax incentives for qualifying investments. The property consists of vacant, level land with no tenant relocation or demolition costs. Conveniently located near major freeways, employment centers, shopping, dining, and other amenities throughout the San Fernando Valley. Ideal opportunity for developers and investors seeking a well-positioned infill development site with multiple potential development strategies. Buyer to independently verify zoning, entitlements, development capacity, SB 8 status, CHIP/TOIA incentives, ED 1 eligibility, Opportunity Zone benefits, and all other property information with the appropriate agencies.
Location
State CA
County Los Angeles
Area East Van Nuys
Zoning LARD1.5
Exterior
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Listed by Keller Williams Beverly Hills
NEARBY SCHOOL & BUSINESS
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