$7,350,000
0.97 Acre Lot
42,214 Sqft Lot
Status Active
Property Type Land
Price Type
Days on Website 61

Property Map

$7,350,000 – 8747 Van Nuys Boulevard, Panorama City, CA 91402

Street View

Courtesy of Marcus & Millichap, Neema Ahadian. IDX Contact: 310-909-5500

Description

Three parcels of land in Panorama City totaling 42,214 square foot as a development opportunity located on Van Nuys Blvd at Parthenia St. The property is being offered at $174 ppsf blended and is located east of the 405 FWY, just north of Roscoe Blvd and directly across the street from the LA Kings Valley Ice Center. This well-located asset is very walkable, with a high walk score of 87, and is located within close proximity to transit with a good transit score of 51. The subject property is located just 1.2 miles from the newly improved Van Nuys Metrolink Station, part of the Ventura County Line connecting the site to Ventura County to the west and Downtown LA to the east; bringing significant environmental benefits, economic development, and employment opportunities to the immediate area. With over 360,000 people within a three-mile radius, Panorama City is a highly desirable market in the central valley with high demand low residential vacancy rates.Preferential zoning allows for significant development potential. Based on the [Q]C2-1VL and R3 zoning and density increase benefits the development potential for the subject property is multi-family 80 buildable units by-right and up to 140 buildable units with increased density based on the Tier 3 TOC benefits.

Property Details and Features

Listing

  • First day on market
  • Listed on 2021-09-27

Location

  • County: Los Angeles

Lot

  • 42214 sqft
  • 0.38 acres
  • Area: 42214
  • Dimensions: 102×165

Request More Information

Schedule a Showing