$2,980,000
6948 N Woodman Ave Van Nuys, CA 91405
5
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$2,980,000
Est. payment /mo
0.46 Acres Lot
Active
6948 N Woodman Ave Van Nuys, CA 91405
UPDATED:
10/02/2024 07:01 AM
Key Details
Property Type Vacant Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID 24-443867
Lot Size 0.458 Acres
Acres 0.4582
Property Description
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.
Location
State CA
County Los Angeles
Area Valley Glen
Zoning LAR3
Exterior
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Special Listing Condition Standard
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The information 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. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified.
Listed by Coldwell Banker Realty
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