$1,320,000
$1,495,000
11.7%For more information regarding the value of a property, please contact us for a free consultation.
8,970 Sqft Lot
SOLD DATE : 08/03/2023
Key Details
Sold Price $1,320,000
Property Type Vacant Land
Listing Status Sold
Purchase Type For Sale
MLS Listing ID 23-252895
Sold Date 08/03/23
Lot Size 8,970 Sqft
Acres 0.2059
Property Description
We are proud to exclusively present for sale a rare corner Vacant Lot in Valley Glen, the middle of everything in the San Fernando Valley! Build 7+/- Units by Right or 14+/- Units by TOCor go 100% Affordable Housing and build even more! This property is ready for entitlements! Boasting 95 feet of frontage on Woodman Ave. and 95 feet of frontage on Erwin St., this very visible lot is situated on the southeast corner of the intersection. With 8,791 SF of [Q] R3-1 Tier 3 Zoning, this Vacant Lot can become can become the go-to place to rent in the area, with the street views being unobstructed and the properties in the area being low-rises or single family homes. The Q Condition limits the non-incentive height to 35 feet and the density to 1 unit per 1,200 SF, but bring your TOC or Affordable Housing ideas and make this lot shine! At about $166 Price Per SF of Land and no relocation needs, no Ellis needs and no RSO obligations, this property is priced to sell! This Central Valley location is a short distance to the Orange Line Station (about 0.2 Miles away!), so little or no parking should not be a detriment! The Orange Line serves the Valley from North Hollywood to Chatsworth, from Woodland Hills to the Metro Red Line. LA Valley College is around a mile from the property and serves approximately 20,000 students a year, many of which are from out of town and looking for the best rentals in the area. And with an average household income over $84,000 within a one mile radius, the future rental pool for a new construction Project on this lot is very promising. Sandwiched between Victory Blvd. and Oxnard St., both are destinations for shopping and dining, and some nightlife around the corner! Easy access to the 405, 101, and 170 freeways will make it an easy commute for those who prefer a car over public transportation!
Location
State CA
County Los Angeles
Area Valley Glen
Zoning [Q]R3-1 Tier 3
Exterior
View Y/N Yes
View Other
Others
Special Listing Condition Standard
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