For more information regarding the value of a property, please contact us for a free consultation.
Key Details
Sold Price $915,000
Property Type Vacant Land
Sub Type Unimproved Land
Listing Status Sold
Purchase Type For Sale
MLS Listing ID CL24432117
Sold Date 10/17/24
HOA Y/N No
Lot Size 10,604 Sqft
Acres 0.24
Property Description
We are proud to present 6311 Hazeltine Ave, Van Nuys, CAa unique investment opportunity with a range of possibilities for astute investors and developers.This expansive 10,621-square-foot corner lot currently hosts a duplex on the northern half, with two 900+ square foot, two-bedroom, one-bathroom units that generate $3,450 in monthly rental income. Each unit enjoys its own private garage, with a shared driveway between them.The southern half of the lot, comprising over 5,000 square feet of raw, undeveloped land, is primed for new development.The property's zoning, (Q)RD1.5, allows for various development strategies. One option is to demolish the existing duplex and capitalize on the zoning to construct up to 5 units by right. Alternatively, leveraging the TOC Tier 1 density bonus, a developer could create up to 8 units, with just one unit designated for low-income housing. This plan could be further enhanced with the addition of ADUs, resulting in a total of up to 10 units.For those considering affordable housing, the property is also an excellent candidate for ED1 100% affordable development, potentially accommodating over 40 units.Alternatively, a buyer might choose to retain the existing duplex and develop the vacant portion of the lot. Options include constructing two large
Location
State CA
County Los Angeles
Area Listing
Zoning LARD
Interior
Fireplace No
Exterior
View Y/N false
View None
Building
New Construction No
Others
Tax ID 2240015014
Read Less Info
Want to know what your home might be worth? Contact us for a FREE valuation!
Our team is ready to help you sell your home for the highest possible price ASAP
© 2024 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.
Bought with FilipNiculete