CA > Van Nuys
Van Nuys, CA 91406,7005 Woodley Ave
Van Nuys, CA 91406,7005 Woodley Ave
Van Nuys, CA 91406,7005 Woodley Ave
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Melissa Seanez

Melissa Seanez

+1(626) 723-6030
$1,600,000
Est. payment /mo
0.26 Acres Lot
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UPDATED:

11/18/2024 04:54 PM

Key Details

Property Type Vacant Land

Listing Status Active

Purchase Type For Sale

MLS Listing ID 24-445861

Lot Size 0.260 Acres

Acres 0.2587

Property Description

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.

Location

State CA

County Los Angeles

Area Lake Balboa

Zoning LAR3

Interior

Inclusions RTI Plans for 21 Units and 4 Rec Rooms to be Converted to ADUs.

Exterior

View Y/N Yes

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Building

Lot Description Single Lot, Raw Land, Value In Land, Fenced

Others

Special Listing Condition Standard

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Listed by Marcus & Millichap

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Melissa Seanez

+1(626) 723-6030

Agent | License ID: 02137015

Agent License ID: 02137015

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