525 E Los Angeles Avenue
Land | 1.46 acres
Marketing description
The Boyett Team at CBRE is pleased to present a 1.46 AC development opportunity for sale or joint venture (JV). The subject property is positioned in a strong Simi Valley location, west of 1st Street and north on E Los Angeles Avenue.
Designated as a Downtown Corridor in the recently enacted Envision Simi Valley Specific Plan, this site has a broad range of potential uses including mixed-use up to a 1.5 FAR (FAR limits commercial floor area, not residential). Under this framework the base residential density is a max of 45 dwelling units per acre with potential to increase with the State Density Bonus. This site is located directly on one of Simi Valley's most prominent commercial corridors, Los Angeles Avenue. A new development at this location would benefit from the local amenities in every direction including a Stater Bros across the street.
Situated in a strong Simi Valley location, this offering presents a rare opportunity for any developer to build higher density in a historically low density and low cap rate market adjacent to Los Angeles.
Investment highlights
- Strong Simi Valley Location
- Situated Directly on One of Simi Valley's Most Prominent Commercial Corridors
- 1.46 AC Double-Lot Zoned for the Recently Passed Envision Simi Valley Specific Plan as 'Downtown Corridor'
- Major Density Upside Utilizing By-Right Entitlements, Community Benefits, & State Density Bonus
- Located in a Qualified Census Tract (QCT), Potential to Access LIHTC Funding
- Surrounded by Retail, Restaurant, and Service Amenities in Every Direction
- Suburban City with Small-Town Feel within Short Commuting Distance to Major Employment Across Los Angeles
- Available for Sale or for Joint Venture (JV)
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