7650 Van Nuys Boulevard, Van Nuys, CA 91405
100-130 Unit Development Deal with 3 Retail Units in Place
Sale Price $5,000,000
This development deal can potentially lead to 100 to 130 units. It has a great price per unit and a 28,810 square foot lot with two retail tenants paying $18,244K gross per month. The two tenants leases will expire by the end of 2019 just in time to break ground.
The property is zoned C2-1VL and is located in the new TOC Tier 3 Zone that if you meet all requirements will allow for 70% increase in dwelling units, 50% increase in FAR resulting in at least a 3.75:1 FAR and reduced parking to 0.5 spaces per unit.
See guidelines for TOC zoning here.