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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.
Property Type(s):
Lot/Land/Acreage
| Last Updated | 11/18/2024 | Community | Lake Balboa |
|---|---|---|---|
| County | Los Angeles |
Price History
| Prior to Nov 18, '24 | $1,750,000 |
|---|---|
| Nov 18, '24 - Today | $1,600,000 |
Additional Details
| AREA | Lake Balboa |
|---|---|
| LOT | 0.26 acre(s) |
| LOT DESCRIPTION | Value In Land |
| LOT DIMENSIONS | 100x114 |
| VIEW | Yes |
| VIEW DESCRIPTION | City Lights |
| ZONING | LAR3 |
Location
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Listed with Marcus & Millichap
The information being provided by Conejo Simi Moorpark Association of REALTORS® (“CSMAR”) is for the visitor's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. Any information relating to a property referenced on this web site comes from the Internet Data Exchange (“IDX”) program of CSMAR. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. Any information relating to a property, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by CSMAR and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
This IDX solution is (c) Diverse Solutions 2024.
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