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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 DiligenceThe Buyer Acknowledges and agrees that the Buyer shall conduct its own independent investigation, due dilligence, and evaluation of the property. Thebuyer 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
Property Type(s):
Commercial
| Last Updated | 3/28/2025 | Community | Van Nuys |
|---|---|---|---|
| County | Los Angeles |
Price History
| Prior to Mar 28, '25 | $3,499 |
|---|---|
| Mar 28, '25 - Today | $3,499,000 |
Additional Details
| AIR | None |
|---|---|
| AREA | Van Nuys |
| CONSTRUCTION | Concrete, Drywall |
| HEAT | Combination |
| LOT | 0.46 acre(s) |
| LOT DESCRIPTION | Corner Lot, Street Level |
| STORIES | 1 |
| UTILITIES | Electricity Connected,Water Available, Electric: Electricity - On Property,220 Volts in Workshop |
| WATER | Private |
Location
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Listed with Coldwell Banker Quality Properties
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 2025.
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