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$5,990,000
Est. payment /mo
10,176 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 10,176 sqft
Price per Sqft $588
MLS Listing ID CL25555149
HOA Y/N No
Lot Size 6,250 Sqft
Acres 0.14
Property Sub-Type Other
Property Description
Presenting a rare ground-up multifamily development opportunity in Van Nuys, currently under construction with anticipated completion by January 2026. This offering provides investors with flexible delivery options either as-is for those seeking to complete the construction process or fully built and ready for lease-up and stabilization. At market rents, the project is projected to achieve an approximate 5% CAP rate. Additionally, it is uniquely situated within a federally designated Opportunity Zone, offering potential tax incentives for investors focused on long-term capital appreciation. Located in the heart of a rapidly transforming submarket, the site is surrounded by approximately 20 new multifamily developments within Van Nuys and borders high-growth neighborhoods such as Sherman Oaks and North Hollywood, where nearly 40 additional development projects are underway. Van Nuys continues to show strong rental demand and high occupancy levels, driven by a combination of job growth, population increases, and relative affordability compared to other parts of Los Angeles. The property's central location offers walkable access to local parks, Lake Balboa, coffee shops, restaurants, and everyday retail amenities. It also boasts excellent regional connectivity via the 405 and 101 fr
Location
State CA
County Los Angeles
Zoning LAR3
Interior
Heating Other
Flooring Wood
Fireplace No
Appliance Dryer
Laundry Dryer, Washer
Exterior
Utilities Available Other Water/Sewer
View Y/N true
View City Lights, Other
Building
Sewer Other
Water Other
New Construction No
Others
Tax ID 2241007006
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Listed by Scott Rosenberg • Kidder Mathews of California, Inc.
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