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11444 Vanowen Street

North Hollywood, CA 91605
  • $3,000,000
  • STATUS: Active
  • ON SITE: 211 Days
  • ID#: 21750514
$3,000,000
  • 0
    BEDS
  • 0.41
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Vacant Land / Lots
County:

School Ratings & Info

Listing Agent(s): Filip Niculete of Marcus & Millichap (818-212-2700)


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 California Regional Multiple Listing Service, Inc. as of 2022-01-16T00:25:15.757. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Tana Goff Real Estate and Home Sales | Berkshire Hathaway Home Services Elite Real Estate. Licensed in the State of California, USA.
www.tanagoff.com/homes/118454116
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11444 Vanowen Street North Hollywood, CA 91605

  • Price: $3,000,000
  • Status: Active
  • On Site: 211 Days
  • ID#: 21750514
0
Beds
0
Baths
0
½ Baths
0.41
Acres
Neighborhood:
NHO - North Hollywood
County:
Los Angeles
Area:
NHO - 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

Parking Total 0 View YN Yes

Property Features

Association Fee 0 Listing Agreement Seller Reserved Listing Service Full Service Senior Community YN No Special Listing Conditions Standard Zoning Lac2



Based on information from California Regional Multiple Listing Service, Inc. as of 2022-01-16T00:25:15.757. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Tana Goff Real Estate and Home Sales | Berkshire Hathaway Home Services Elite Real Estate. Licensed in the State of California, USA.
 
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Tana Goff Real Estate and Home Sales | Berkshire Hathaway Home Services Elite Real Estate
, 95368
Listing Agent(s): Filip Niculete of Marcus & Millichap (818-212-2700)