6948 N WOODMAN AVE Active

Van Nuys,CA 91405

$ 2980000

100 Beds

100 Baths

0 SqFt


Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

MLS Listing ID 24443865

Bedrooms 100

Year Built 2024

Lot Size 0.458 Acres

Property Description

Consider the opportunity to develop a new nursery or residential project in Valley Glen, a prime area within Van Nuys, popular for both multifamily and office developments. This presents an outstanding investment opportunity for seasoned investors and developers. The lot, spanning 19,961 square feet, is zoned R3 (16,817.33 sq. ft.) and R1 (3,151.3 sq. ft.). There are three development options to explore:1. **Unlimited Density**: A request can be made for unlimited density if the project is 100% affordable housing for senior citizens (55+), potentially allowing for 100+ units with no parking requirements. 2. **49 Units**: A plan that includes 49 units, with 7 units designated for low- and moderate-income tenants. 3. **RTI Ready**: The property is already entitled and RTI ready, with plans for a luxury apartment complex featuring 23 units over 31,150 square feet, along with a 1,200-square-foot ADU. Each option provides a unique opportunity for significant returns in this sought-after location.

Location

State CA

County Los Angeles

Area Vg - Valley Glen

Zoning LAR3

Interior

Heating None

Cooling None

Exterior

Garage None

Building

Sewer Other

New Construction No

Others

Special Listing Condition Standard

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