$5,877,000
Est. payment /mo
0.71 Acres Lot
Active
5950 Cedros Avenue Van Nuys (los Angeles), CA 91411
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Key Details
Property Type Vacant Land
Sub Type Unimproved Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRSR25172430
HOA Y/N No
Lot Size 0.706 Acres
Acres 0.71
Property Sub-Type Unimproved Land
Property Description
We are pleased to present the opportunity to acquire fee simple interest in 5950 N. Cedros Ave. (et. al. addressees) AKA the “Valley Metro†development site; a 30,735 SF transit-oriented development opportunity. The site is just steps from the intersection of the new East Valley Metro line stop AND the Orange Line at Van Nuys Blvd. and Oxnard St. In addition to its transit-oriented location, the values appurtenant to the base zoning couldn’t be any more enticing for the permitting and funding of affordable housing. The site’s yield will be dictated by the taste of the developer and their capital constraints and not by zoning policy as virtually all entitlement pathways under CHIP ( DB, MIIP, or AHIP) will allow unlimited density, more FAR than is needed, and likely more height than needed all without a planning case! It may be a logical use of the site worthy of consideration to develop five stories across the 21,568 rectangular portion and use the current parking lot for parking, trash enclosure, and amenities. By our calculations this could produce, conservatively, about 59,655 SF of leasable area within five stories Type IIIA. Assuming an average unit size of 500 SF, this would produce a yield of about 120 units.
Location
State CA
County Los Angeles
Zoning LAC1
Interior
Fireplace No
Exterior
View Y/N true
View City Lights, Mountain(s), Panoramic, Valley, Other
Building
Lot Description Corner Lot, Irregular Lot, Level
New Construction No
Others
Tax ID 2244006039
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Listed by Francis Evanisko • Evanisko Realty & Investment
A FEW WORDS FROM PAST CLIENTS
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Mike & Jules Guzzardo Team With Jenny Biczkow
Realtor | r01066846,01955798,02086289