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11444 Vanowen St

North Hollywood, CA 91605
  • $3,000,000
  • STATUS: Active
  • ON SITE: 216 Days
  • ID#: 21-750514
UPDATED: 237 min ago
$3,000,000
  • 0
    BEDS
  • 0.7
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Vacant Land / Lots
County:

School Ratings & Info

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.

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Based on information from the Combined LA/Westside Multiple Listing Service as of 2022-01-19T23:42:28.617. 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.
www.randyplaice.com/homes/118445117
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11444 Vanowen St North Hollywood, CA 91605

  • Price: $3,000,000
  • Status: Active
  • On Site: 216 Days
  • Updated: 237 min ago
  • ID#: 21-750514
0
Beds
0
Baths
0
½ Baths
0.7
Acres
Neighborhood:
North Hollywood
County:
Los Angeles
Area:
North Hollywood
Property 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.
Exterior Features

Lot Size Area 17860 View Description Other View YN Yes

Property Features

Cable YN No Sale Type Standard Source Lot Size Area Other Zoning Lac2

Listing provided courtesy of Filip Niculete DRE#01905352 of Marcus & Millichap.


Based on information from the Combined LA/Westside Multiple Listing Service as of 2022-01-19T23:42:28.617. 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.
 
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Randy Plaice and Associates | RE/MAX Gateway
27720 Dickason Drive
Valencia CA, 91355