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$ 1,950,000
Est. payment /mo
New
7317 Vineland AVE 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 BB26108238
HOA Y/N No
Lot Size 0.317 Acres
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
Interior
Fireplace No
Exterior
Community Features Curbs, Park
Utilities Available Electricity Available, Natural Gas Available, Sewer Available, Water Available
View Y/N Yes
Building
Lot Description Level, Near Park, Near Public Transit, Rectangular Lot
Water Public
New Construction No
Others
Senior Community No
Tax ID 2315025046
Acceptable Financing Cash, Cash to New Loan, 1031 Exchange, Owner May Carry
Listing Terms Cash, Cash to New Loan, 1031 Exchange, Owner May Carry
Special Listing Condition Standard
Listed by Chris Muradyan Khoren Muradyan 818-935-9806, DRE #01917814
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