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$3,399,800
Est. payment /mo
0.43 Acres Lot
UPDATED:
12/05/2024 05:25 AM
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID 24364931
HOA Y/N No
Lot Size 0.431 Acres
Property Description
INVESTMENT HIGHLIGHTS:DWG Capital Group is proud to exclusively present the 6-parcel land assemblage at 23024-23026 Ventura Blvd, Woodland Hills, CA 91364 for sale. This undeveloped land property in Woodland Hills, California, presents an excellent multi-use development opportunity for investors and developers.DEVELOPMENT STATISTICS:The property is located at 23024-23026 Ventura Blvd and is zoned for C-1 use. It is situated on 6 parcels, totaling approximately 18,774 square feet, providing ample space for innovative design and construction. The proposed building would encompass a total area of 35,309 square feet, complying with a floor area ratio (F.A.R.) of 1 to 1. The development plan includes the construction of 40 units, consisting of 35 standard apartment units and 5 ground floor retail/office live/work spaces. The estimated cost is $84,995 per un-entitled unit, resulting in a total cost of $3,399,800. Buyer is encouraged to perform their own due diligence.EXCELLENT LOCATION:The property is situated in a highly desirable location in Woodland Hills, California. It is located between the popular Ventura Blvd and Highway 101 just east of Valley Circle Blvd, which offers easy access to various amenities, including shopping centers, restaurants, and entertainment options all near the Warner Center. The property is also conveniently located just a short walk from the Metro Local Line 161 at the Ventura/Caltrans Station, which provides access to public transportation. Additionally, the property is just minutes away from the higher-income area of Calabasas, which is known for its upscale residential communities, high-end shopping, and scenic surroundings.STRONG RENTAL SUB-MARKET:The area has over 187,000 residents, with an average household income exceeding $82,898 in the Northwest/Canoga Park, Winnetka & Woodland Hills area. Additionally, the location has an extremely robust workforce in its dense infill location, with a walk score of 89, indicating excellent walkability. The area is particularly attractive to millennial renters, with nearby projects such as The Q on Variel and The Q on Glade projects commanding rents of over $4.21 per square foot and other nearby projects benchmarking nearly $4+ per square foot rent. The growth and development in the submarket of Woodland Hills make it an attractive location for potential tenants and buyers, making it a highly competitive real estate market.
Location
State CA
County Los Angeles
Area Whll - Woodland Hills
Zoning LAC1
Rooms
Other Rooms Living Quarters
Interior
Fireplace No
Exterior
Total Parking Spaces 55
Building
Lot Description Over 40 Units/Acre, Planned Unit Development, Rectangular Lot, Rolling Slope, Value In Land
Story 6
Additional Building Living Quarters
Others
Tax ID 2042006049
Special Listing Condition Standard
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Listed by John 'Judd' Dunning • John Barker Dunning