$3,000,000

11444 Vanowen Street

North Hollywood CA, 91605

Description

We are very proud to present this extremely rare and exciting development opportunity in North Hollywood, California. The Offering sits on 17,860 square feet of land zoned C2.This development opportunity checks every box we can think of: Opportunity Zone, TOC Density Bonus, 3-lot assemblage, and a blank canvas to build up to 69 apartment units. With the C2 zoning, a multifamily developer can build up to 45 market-rate units by-right, or a developer could choose to utilize the TOC Tier 1 Density bonus and build up to 69 units. A couple of the main benefits of the TOC Tier 1 bonus is that a developer will be allowed an increased FAR and height limit, which will be 2.75-1 and 56 feet, respectively. The property is also located in an Opportunity Zone which allows a developer an array of tax advantages on both the purchase and the future exit.

Details

MLS#21750514
Listing TypeFor Sale
Sub-TypeResale
StatusPending
Days On Site130

Features

ZoningLAC2
Acreage0.70
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Area Information
StateCA
CountyLos Angeles
CityNorth Hollywood
Zip Code91605
AreaNHO - North Hollywood
Listing VS Median (in 91605)
Price:
$3,000,000
low | high
Med:
$750,000
100% of Average
On Site:
130
low | high
Med:
17
100% of Average
Sourced by Back At You
Listing Updated: September 2, 2021 3:49:02 PM PDT
Filip Niculete LogoMLS Number: 21750514
Listing Provided By:
Filip Niculete  of  Marcus & Millichap
MLS Internet Data Exchange (IDX) information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the California Regional MLS.