$5,877,000

Est. payment - /mo

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0.71 Acres Lot

Active

5950 Cedros AVE Van Nuys, CA 91411

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Chris Mardelli

chris@therealupside.com +1(310) 571-5761

UPDATED:

Key Details

Property Type Vacant Land

Listing Status Active

Purchase Type For Sale

MLS Listing ID SR25172430

HOA Y/N No

Lot Size 0.706 Acres

Property Description

We are pleased to present the opportunity to acquire fee simple interest in 5950 N. Cedros Ave. (et. al. addressees) AKA the “Valley Metro” development site; a 30,735 SF transit-oriented development opportunity. The site is just steps from the intersection of the new East Valley Metro line stop AND the Orange Line at Van Nuys Blvd. and Oxnard St.

In addition to its transit-oriented location, the values appurtenant to the base zoning couldn't be any more enticing for the permitting and funding of affordable housing. The site's yield will be dictated by the taste of the developer and their capital constraints and not by zoning policy as virtually all entitlement pathways under CHIP ( DB, MIIP, or AHIP) will allow unlimited density, more FAR than is needed, and likely more height than needed all without a planning case!

It may be a logical use of the site worthy of consideration to develop five stories across the 21,568 rectangular portion and use the current parking lot for parking, trash enclosure, and amenities. By our calculations this could produce, conservatively, about 59,655 SF of leasable area within five stories Type IIIA. Assuming an average unit size of 500 SF, this would produce a yield of about 120 units.

Location

State CA

County Los Angeles

Area Vn - Van Nuys

Zoning LAC1.5

Interior

Fireplace No

Exterior

Community Features Storm Drain(s), Street Lights, Sidewalks, Urban, Valley, Park

View Y/N Yes

View City Lights, Mountain(s), Neighborhood, Panoramic, Valley

Building

Lot Description 36-40 Units/Acre, Corner Lot, Irregular Lot, Level, Near Park, Rectangular Lot

Water Public

New Construction No

Others

Senior Community No

Tax ID 2244006039

Acceptable Financing Cash, Cash to Existing Loan, 1031 Exchange

Listing Terms Cash, Cash to Existing Loan, 1031 Exchange

Special Listing Condition Standard

Listed by Francis Evanisko Evanisko Realty & Investment 213-200-6957

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