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    11444 Vanowen St

    North Hollywood, CA 91605
    • $3,000,000
    • STATUS: Active
    • ON SITE: 47 days
    • MLS #: 21-750514
    UPDATED: 152 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 2021-08-03T23:42:33.353. 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.haciendagroupinc.com/homes/118445117
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    11444 Vanowen St North Hollywood, CA 91605

    • Price: $3,000,000
    • Status: Active
    • Updated: 152 min ago
    • MLS #: 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 2021-08-03T23:42:33.353. 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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    Hacienda Agency Inc
    77935 Calle Tampico # 201
    La Quinta CA, 92253