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30829116
29725479

16600 Vanowen, Van Nuys, CA 91406

FE
CA 01383591
Evanisko Realty & Investment, Inc
Listed by Evanisko Realty & Investment, Inc
$15,950,000
112 days on market
Updated 71 days ago

16600 Vanowen

Details
APN 2231007017
Property Type Land
Sub Type Lots/Land
Broker Co-Op Yes
Acreage 4.324
Zoning R1-1-RIO

Balboa Courts Development Site

Marketing description

We are pleased to present the opportunity to acquire fee simple interest in 4.32 acres at 16600 Vanowen St. in the Lake Balboa neighborhood of the City of Los Angeles. The flat site boasts frontage on three streets, will not require residential tenant displacements, and is walking distance to one of Los Angeles largest recreation amenities; Sepulveda Basin. The development of multiple residential product typologies are possible on the site from traditional single family to dense forms of deed restricted apartments leveraging state bonus density policy. Low Residential General Plan in its entirety, which, in Reseda West Van Nuys Community Plan area possesses an RD5 Corresponding Zone.

Investment highlights

AHIP (Affordable Housing Incentive Program) to produce deed restricted housing

Yield Potential: Over 600 units assuming four stories over garage and an average unit size of approx. 650 SF. We’d probably envision something more like 400.

Planning Mechanisms Required: Site qualifies for Limited State Incentive Table on AHIP Referral Form because it is in a Low Vehicle Travel Area. This qualifies the site for unlimited density. FAR will be an off-menu request of which the City of LA has issued countless Letters of Compliance under similar contexts.

Subdivision (VTT) of SLO homes leveraging density bonus and the site’s prevailing zone of RD5

Yield Potential: +/- 52 SLO with 5 @ VL using 35% bonus density up to 76 SLO units with 5 @ VL and 6 @ MOD using stacked 50% density bonuses. 76 SLO would still be under 18 DU/ACRE which would be a relaxed implementation of SLO houses. This may required recalculation after considering any required street dedication areas.

Planning Mechanisms Required: VTT and DB

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Listing Contacts

FE
CA 01383591
Evanisko Realty & Investment, Inc
Listed by Evanisko Realty & Investment, Inc

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