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    11432 Vanowen Street

    North Hollywood, CA 91605
    • $6,000,000
    • STATUS: Active
    • ON SITE: 53 days
    • ID#: 21745994
    UPDATED: 55 min ago
    $6,000,000
    • 0
      BEDS
    • 0.74
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Vacant Land / Lots
    County:

    School Ratings & Info

    Description

    We very proud to present this extremely rare and exciting development opportunity in North Hollywood, CA. Stretching from Kraft Ave to Farmdale Ave, this development opportunity has 270 feet of frontage on Vanowen St and approximately 112 feet in depth on both sides, situated in an ideal rectangular shape.This development opportunity checks every box we can think of:Opportunity Zone, TOC Density Bonus, C2 Zoning, Block-to-Block 5-lot assemblage, and over 30,000 square feet of blank canvas to build up to 114 apartment units.With the C2 zoning, a multifamily developer can build up to 75 market-rate units by-right, or a developer could choose to utilize the TOC Tier 1 Density bonus and build up to 114 units, with 10 of those 114 units being set aside for very low income tenants.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.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2021-07-31T19:26:47.437. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Zember Realty Group. Licensed in the State of California, USA.
    www.zemberrealtygroup.com/homes/117999064
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    11432 Vanowen Street North Hollywood, CA 91605

    • Price: $6,000,000
    • Status: Active
    • Updated: 55 min ago
    • ID#: 21745994
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.74
    Acres
    Neighborhood:
    NHO - North Hollywood
    County:
    Los Angeles
    Area:
    NHO - North Hollywood
    Property Description
    We very proud to present this extremely rare and exciting development opportunity in North Hollywood, CA. Stretching from Kraft Ave to Farmdale Ave, this development opportunity has 270 feet of frontage on Vanowen St and approximately 112 feet in depth on both sides, situated in an ideal rectangular shape.This development opportunity checks every box we can think of:Opportunity Zone, TOC Density Bonus, C2 Zoning, Block-to-Block 5-lot assemblage, and over 30,000 square feet of blank canvas to build up to 114 apartment units.With the C2 zoning, a multifamily developer can build up to 75 market-rate units by-right, or a developer could choose to utilize the TOC Tier 1 Density bonus and build up to 114 units, with 10 of those 114 units being set aside for very low income tenants.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.
    Property Features

    Listing Agreement Seller Reserved Listing Service Full Service Senior Community YN No Special Listing Conditions Standard Zoning Lac2

    Listing provided courtesy of Filip Niculete of Marcus & Millichap


    Based on information from California Regional Multiple Listing Service, Inc. as of 2021-07-31T19:26:47.437. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Zember Realty Group. Licensed in the State of California, USA.
     
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