11432 Vanowen Street

Estimated Monthly Payment: $27,361/mo 11432 Vanowen Street, North Hollywood, CA 91605 MLS# 21745994 Land Listing Status: Active
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REMARKS:

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.

OVERVIEW:

Land
Active
NHO - North Hollywood
1

FINANCIAL:

$6,000,000

NEIGHBORHOOD & SCHOOL INFORMATION:

Broker Reciprocity Courtesy of Filip NiculeteMarcus & Millichap

 

California Department of Real Estate License 

 

Based on information from the CRISNet MLS as of 07/26/2021, 10:38:36 PM. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. The information being provided is 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.