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$ 4,575,000
Est. payment | /mo
1.05 Acres Lot
$ 4,575,000
Est. payment | /mo
1.05 Acres Lot
Key Details
Property Type Vacant Land
Sub Type Unimproved Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID CL25482263
HOA Y/N No
Lot Size 1.053 Acres
Acres 1.05
Property Sub-Type Unimproved Land
Property Description
Letter of Compliance - Administrative Determination Issued. We are proud to present for sale a rare Vacant Lot, measuring over an Acre, with Entitlements for an 86-Unit 100% Affordable Housing Project in Van Nuys! At around 45,700 SF of open land, this price pencils to around $100 PSF on the dirt! Situated with an entrance on Sherman Way but sitting behind a duplex fronting the boulevard, this property will benefit from visibility on a busy road, but separation from the hustle and bustle of the street traffic. Sandwiched between Woodman Ave. and Hazeltine Ave., the property is under two miles from the Metrolink Station. The property is labeled as TOC 1. Walk Score calls this area Very Walkable, and future residents will benefit from restaurants, shopping and markets all around, including a Ralphs Supermarket and a Norms Restaurant half a block away. The Entitlements were approved via a Density Bonus & Affordable Housing Incentives Program's Letter of Compliance, approved as Affordable Housing without utilizing ED1. The Project will be delivered in its as-is condition, and will not be delivered RTI. Buyers to be solely responsible for continuing with the project and getting LADBS approvals. The Entitlements designate 67 units as Very Low-Income Households, 18 units as Moderate Inc
Location
State CA
County Los Angeles
Zoning [Q]R
Interior
Fireplace No
Building
New Construction No
Others
Tax ID 2216032032
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Listed by Dario Svidler • Keller Williams Beverly Hills
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Patrick Nagel
REALTOR® | Lic# 1760790