10338 LEMONA AVE Mission Hills CA 91345-2532

Kidder Mathews | SoCal Retail -Investment Sales & Leasing Advisory Services is pleased to present:

10338 - 10346 Lemona Ave, Mission Hills, CA

Click Here To Watch Property Drone Video:

https://www.youtube.com/watch?v=L-ZlorVMJTw

Currently zoned A2-1-0 (agricultural), and previously operating as a plant nursery, the property presents a rare opportunity to develop almost 2 acres of infill land as an affordable housing or small lot residential subdivision development with the City of Los Angeles.

Asking Price: $ 3,250,000

Address: 10338 - 10346 Lemona Ave, Mission Hills, CA

APN: 2648-001-002 & 003

Land SF: +/- 85,759 SF

Land AC: +/- 1.97 Acres

Current Zoning: A2-1-0 (Agricultural)

Current Improvements: 1,080 SF single family residence + 847 SF single family residence (*)

(*) currently utilized in conjunction with tenant’s nursery business.

Recent Use: Plant Nursery (Currently Vacant)

General Plan Land Use: Low Residential

Ownership: Fee Simple

RARE DEVELOPMENT SITE IDEALLY SUITED DEVELOPMENT

LARGE +/- 85,759 SF (1.97 ACRE) “ STREET TO STREET” PARCEL WITH PERFECT RECTANGULAR SHAPE

• 10338 - 10346 Lemona Ave is one of the few “underdeveloped” / agricultural plots of land remaining in the San Fernando Valley. The sites ample land size of +/-1.97 acres and perfect rectangular shape which connects ”street to street” (Lemona Ave to Saloma Ave) make it a highly developed plot of land.

PROXIMITY TO 405 FREEWAY, 118 FREEWAY, 5 FREEWAY & DESIRABLE RETAIL AMENITIES

• The property is centrally located within the San Fernando Valley featuring convenient access to three (3) major freeways making the site highly connected to Greater Los Angeles.

STRONG UNDERLYING REAL ESTATE FUNDAMENTALS | ACTIVE DEVELOPMENT TRADE AREA

• 10338 -10346 Lemona Ave possesses all the fundamentals of a viable small lot residential development site including:

  • Immediate access to major streets, freeways, and amenities.

URBAN SAN FERNANDO VALLEY TRADE AREA DEMOGRAPHICS - HUGE DEMAND FOR HOUSING UNIT

• The site's residential development viability is supported by a dense surrounding San Fernando Valley Trade Area.

• According to LA County, the Los Angeles region has a housing shortage of well over 500,000 units. In addition, at the State Level, the Legislature has mandated California cities provide additional units as California has the largest housing deficit of any other state.