6948 N Woodman Avenue Van Nuys, CA 91405
Consider the opportunity to develop a new nursery or residential project in Valley Glen, a prime area within Van Nuys, popular for both multifamily and office developments. This presents an outstanding investment opportunity for seasoned investors and developers. The lot, spanning 19, 961 square feet, is zoned R3 (16, 817.33 sq. ft.) and R1 (3, 151.3 sq. ft.). There are three development options to explore:1. **Unlimited Density**: A request can be made for unlimited density if the project is 100% affordable housing for senior citizens (55+), potentially allowing for 100+ units with no parking requirements. 2. **49 Units**: A plan that includes 49 units, with 7 units designated for low- and moderate-income tenants. 3. **RTI Ready**: The property is already entitled and RTI ready, with plans for a luxury apartment complex featuring 23 units over 31, 150 square feet, along with a 1, 200-square-foot ADU. Each option provides a unique opportunity for significant returns in this sought-after location.
- Property TypeMulti-Family
- NeighborhoodN/A
- CountyLos Angeles
- Taxes$0
- HOA/Condo/Coop Fees$0
- Days on Site2 Days
- MLS StatusActive
- MLS ID Number24443865
- Home Size Source N/A
- Year Built2024
- Lot Size0.4582 Acres
- Full BathsN/A
- Partial BathsN/A
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General Features
- Parking None
- Parking Spaces 0
- Sewer Other
- Number of Stories Two, Three Or More0
- Acreage 0.4582
- Zoning LAR3
- Listing Conditions Standard
Interior Features
- Cooling None
- Heating None
Community Features
- Senior Community No
- MLS Area VG - Valley Glen