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$ 5,990,000
Est. payment | /mo
10,176 SqFt
$ 5,990,000
Est. payment | /mo
10,176 SqFt
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
Building
New Construction No
Others
Tax ID 2241007006
© 2025 BEAR, CCAR, bridgeMLS. This information is deemed reliable but not verified or guaranteed. This information is being provided by the Bay East MLS or Contra Costa MLS or bridgeMLS. The listings presented here may or may not be listed by the Broker/Agent operating this website.
Listed by Scott Rosenberg • Kidder Mathews of California, Inc.