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Listed by Chris Muradyan • Khoren Muradyan
$ 1,950,000
Est. payment /mo
Active
7317 Vineland Avenue Sun Valley, CA 91352
0.32 Acres Lot
UPDATED:
Key Details
Property Type Vacant Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID BB-26108238
Lot Size 0.317 Acres
Source California Regional Multiple Listing Service (CRMLS)
Property Description
Seller Financing Available!!
Prime Multifamily Development Opportunity in Sun Valley, Ca.
Rare opportunity to acquire two adjacent parcels totaling approximately 13,800 SF in a strong rental market with outstanding multifamily development potential. Consisting of one 7,800 SF lot and one 6,000 SF lot, this site is zoned R3-1 and located within a Transit Oriented Community (TOC) Tier 1, offering developers the ability to maximize density and significantly reduce development costs.
Build up to 19 units by right, or take advantage of TOC incentives and density bonus programs to develop up to 38 units, with only a limited number of units required to be rent restricted (buyer to verify). An added benefit: no parking requirements, creating substantial savings and allowing for more efficient site planning and increased unit yield.
The property also features convenient rear alley access, providing added flexibility for site design, construction access, utilities, trash enclosures, and improved circulation.
Ideally situated near public transportation, major freeways, shopping, dining, and employment centers, this is an exceptional opportunity for developers and investors looking to capitalize on the continued demand for housing in the San Fernando Valley. Seller financing available, creating additional flexibility for qualified buyers and developers.
Buyer to independently verify zoning, development standards, density bonus eligibility, TOC incentives, and all building requirements with the City of Los Angeles.
Prime Multifamily Development Opportunity in Sun Valley, Ca.
Rare opportunity to acquire two adjacent parcels totaling approximately 13,800 SF in a strong rental market with outstanding multifamily development potential. Consisting of one 7,800 SF lot and one 6,000 SF lot, this site is zoned R3-1 and located within a Transit Oriented Community (TOC) Tier 1, offering developers the ability to maximize density and significantly reduce development costs.
Build up to 19 units by right, or take advantage of TOC incentives and density bonus programs to develop up to 38 units, with only a limited number of units required to be rent restricted (buyer to verify). An added benefit: no parking requirements, creating substantial savings and allowing for more efficient site planning and increased unit yield.
The property also features convenient rear alley access, providing added flexibility for site design, construction access, utilities, trash enclosures, and improved circulation.
Ideally situated near public transportation, major freeways, shopping, dining, and employment centers, this is an exceptional opportunity for developers and investors looking to capitalize on the continued demand for housing in the San Fernando Valley. Seller financing available, creating additional flexibility for qualified buyers and developers.
Buyer to independently verify zoning, development standards, density bonus eligibility, TOC incentives, and all building requirements with the City of Los Angeles.
Location
State CA
County Los Angeles
Area Sunv - Sun Valley
Zoning R3-1
Exterior
Community Features Curbs
Utilities Available Sewer Available, Water Available, Electricity Available, Natural Gas Available
View Y/N Yes
View See Remarks
Building
Lot Description Level, Lot 10000-19999 Sqft, Near Public Transit, Park Nearby, Rectangular Lot
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