$5,600,000 Price Analysis   ♡   Panorama City, CA 91402 Unknown bed 0 bath unknown SqFt ($0/SqFt) 0.75 acre lot. Listed 2024-04-24 | Ⓧ USDA Ineligible due to property near Los Angeles |
We are proud to present for sale a Ready-to-Issue ED1-vested 133 Unit Affordable Housing Project on a massive 32
681 SF corner lot in a low-density area. Designed with efficiencies in mind, this fully stacked on-grade design features 107 1+1 and 26 2+1 units (for a total of around 73, 277 SF of rentable space), along with large Recreation Rooms (one of which could be used as a Fitness Room), a large PATH Office space, a Leasing office, large Bike Storage, additional rentable storage areas and 35 side-by-side parking spaces inside the project with potential for 10 more spaces behind the building. The design features garage access exclusively from the alley. The property is located in a residential neighborhood with a storage business next door, which should keep things on the quiet side. The area is on a schdule to bring massive changes, with the coming arrival of the East San Fernando Valley Light Rail Transit Project, with a planned station at Woodman and Van Nuys, potentially less than half a mile away!
The Light Rail will connect to the Orange / G Line, which connects to the Red / B Line as well as MetroLink, opening access to the greater Los Angeles area without the need of a car. Close to the 405 and the 5 freeways, this property is directly north of the Primestor High-Rise Complex Project at Panorama Mall, which will bring 4.5 million square feet of housing, hotel and commercial uses to the area, wh ich already has many jobs and a high demand rental market! The property is also walking distance to parks, supermarkets, restaurants and Arleta High School. Listing includes two APNs: 2650-021-004 and 2650-021-005.
Presented by Dario Svidler at
Keller Williams Beverly Hills.
Property MLS #24-384031 from TheMLSCLAW
Lot Size Dimensions: 230x142
Lot Size Source: Assessor
Lot Size Square Feet: 32681
Calculated Total Monthly Association Fees: 0
County: Los Angeles
Current Use: Residential Income.
Directions: East of the 405, West of the 5, South of the 118. By Van Nuys Blvd.
Source Property Type: Land
Possible Use: Build 133 Unit Affordable Project
Inclusions: 133 Unit Affordable Housing Project Delivered RTI
Area: Panorama City
Source Neighborhood: Panorama City
Parcel Number: 2650-021-004
Postal Code Plus 4: 1026
Zoning: (T)(Q)C1-1 Tier 3 / (T)(Q
Source System Name: C2C
$5,600,000
TheMLSCLAW
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The property loan eligibility may be subject to additional requirements beyond geographical location including but not limited to the condition of the property. Speak with a real estate professional to find out more about the eligibility of a specific property.