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$ 3,499,000
Est. payment | /mo
0.46 Acres Lot
$ 3,499,000
Est. payment | /mo
0.46 Acres Lot
Key Details
Property Type Commercial
Sub Type Business
Listing Status Active
Purchase Type For Sale
MLS Listing ID SR25061764
HOA Y/N No
Lot Size 0.464 Acres
Property Sub-Type Business
Property Description
The property is currently home to an auto body shop and a couple of rental units that poses a fantastic development opportunity to build a high-density mixed-use project. Using LA's newly passed Citywide Housing Incentive Program (CHIP) and AB 1287, a developer has the potential to build over 75,000 square feet and over 110 apartments by building a mixed-income project. Additionally, using newly reformed Memo 143 for ADU additions, this unit count would be able to reach over 130 apartments. The newly passed CHIP also has very limited parking requirements, is not subject to hearing or appeals, and is eligible for CEQA streamlining, creating a unique opportunity for a high-density development in a high demand area.
A brief overview is attached showing potential development scenarios. These scenarios utilize CHIP, AB1287 and Please note a developer would have to set aside portions of the project for low-income units.
Buyer's Responsibility for Due Diligence
The Buyer Acknowledges and agrees that the Buyer shall conduct its own independent investigation, due dilligence, and evaluation of the property. The
buyer shall not rely on any assumptions or other information provided.
The report was prepared by a reputable land use consultant, and if you are looking for more information, we can provide you with his contact information to set up a consultation
A brief overview is attached showing potential development scenarios. These scenarios utilize CHIP, AB1287 and Please note a developer would have to set aside portions of the project for low-income units.
Buyer's Responsibility for Due Diligence
The Buyer Acknowledges and agrees that the Buyer shall conduct its own independent investigation, due dilligence, and evaluation of the property. The
buyer shall not rely on any assumptions or other information provided.
The report was prepared by a reputable land use consultant, and if you are looking for more information, we can provide you with his contact information to set up a consultation
Location
State CA
County Los Angeles
Area Vn - Van Nuys
Interior
Heating Combination
Cooling None
Fireplace No
Laundry None
Exterior
Utilities Available Electricity Connected, Water Available
Roof Type Composition
Building
Lot Description Corner Lot, Street Level
Story 1
Water Private
Others
Tax ID 2219026036
Acceptable Financing Submit
Listing Terms Submit
Special Listing Condition Standard
Listed by Janet Aguilera Coldwell Banker Quality Properties 310-403-1698
