$ 1,750,000
7005 Woodley AVE Van Nuys, CA 91406
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REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
$ 1,750,000
Est. payment /mo
Active
7005 Woodley AVE Van Nuys, CA 91406
0.26 Acres Lot
UPDATED:
10/05/2024 03:14 PM
Key Details
Property Type Vacant Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID 24445861
HOA Y/N No
Lot Size 0.260 Acres
Property Description
We are pleased to present an 11,314 square foot RTI development site located at 7005 N Woodley Avenue in Van Nuys, California. The subject property is situated in a solid Van Nuys location, south of Sherman Way and east of Hayvenhurst Avenue. This offering is positioned a one (1) large corner lot totaling 11,314 square feet of land with a zoning ordinance of LAR3-1. This allows for fourteen (14) units by-right, a maximum height of 45 feet by-right, and a FAR of 3:1 by-right. Additionally, this offering is fully entitled utilizing the city Density Bonus incentive program, allowing for a 35% bonus to unit count and FAR, twenty-one (21) RTI units and 4.05:1 respectively, and a height increase to 56 feet. There are thirty-five (35) total parking spots in the plans, with ten (10) on-grade and twenty-five (25) on one level subterranean. The plans also include a rooftop deck common area, and four (4) recreation rooms with layouts that are nearly identical to their adjacent one-bedroom unit counterparts, making these recreation rooms a breeze to convert into ADU units. Totaling twenty-five (25) units after ADU conversion, the unit mix is great and consists of thirteen (13) one-bedroom / one-bathroom units, four (4) one-bedroom / one-bathroom ADU units, and eight (8) two-bedroom / two-bathroom units. In accordance with the Density Bonus program, one (1) one-bedroom and one (1) two-bedroom unit are set aside for very low income. Situated in a solid Van Nuys location, this offering presents an excellent opportunity for any developer to capitalize on a fully RTI development site in one of the most populous municipalities in Los Angeles.
Location
State CA
County Los Angeles
Area Lkbl - Lake Balboa
Zoning LAR3
Interior
Inclusions RTI Plans for 21 Units and 4 Rec Rooms to be Converted to ADUs.
Fireplace No
Exterior
View Y/N Yes
View City Lights
Building
Lot Description Value In Land
New Construction No
Others
Senior Community No
Tax ID 2224010009
Special Listing Condition Standard
Lease Land No
Listed by Jason Tuvia • Marcus & Millichap