Consider the opportunity to develop a new nursery or residential project in Valley Glen, a prime area within Van Nuys, popular for both multifamily and office developments. This presents an outstanding investment opportunity for seasoned investors and developers. The lot, spanning 19,961 square feet, is zoned R3 (16,817.33 sq. ft.) and R1 (3,151.3 sq. ft.). There are three development options to explore:1. **Unlimited Density**: A request can be made for unlimited density if the project is 100% affordable housing for senior citizens (55+), potentially allowing for 100+ units with no parking requirements. 2. **49 Units**: A plan that includes 49 units, with 7 units designated for low- and moderate-income tenants. 3. **RTI Ready**: The property is already entitled and RTI ready, with plans for a luxury apartment complex featuring 23 units over 31,150 square feet, along with a 1,200-square-foot ADU. Each option provides a unique opportunity for significant returns in this sought-after location.
MLS #:
24-443867
Lot Size
0.46 acres
Type
Land
Views
None
County
Los Angeles County
Listed By
Elham "Ellie" Khani, DRE #01989596 CA, Coldwell Banker Realty Laadan "Laadan Lillie" Vosough, DRE #02029432 CA, Coldwell Banker Realty
Source Combined L.A. Westside (CLAW) Last checked Oct 18 2024 at 2:41 AM PDT
Disclaimer: Copyright 2024 CLAW MLS. All rights reserved. This information is deemed reliable, but not guaranteed. The information being provided is for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data last updated 10/17/24 19:41
Description