11444 Vanowen St
North Hollywood, CA 91605
45 Units By-Right | 69 Units with Tier 1 TOC · Land For Sale · 0.41 AC
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PROPERTY FACTS
Property Type | Land |
Property Subtype | Residential |
Total Lot Size | 0.41 AC |
DESCRIPTION
The LAAA Team of Marcus & Millichap is very proud to present this extremely rare and exciting development opportunity in North Hollywood, California. The Offering sits on 17,860 square feet of land zoned C2. This development opportunity checks every box we can think of: Opportunity Zone, TOC Density Bonus, 3-lot assemblage, and a blank canvas to build up to 69 apartment units. With the C2 zoning, a multifamily developer can build up to 45 market-rate units by-right, or a developer could choose to utilize the TOC Tier 1 Density bonus and build up to 69 units. A couple of the main benefits of the TOC Tier 1 bonus is that a developer will be allowed an increased FAR and height limit, which will be 2.75-1 and 56 feet, respectively. The property is also located in an Opportunity Zone which allows a developer an array of tax advantages on both the purchase and the future exit. To learn more about the TOC program and/or the Opportunity Zone tax law, please contact us today.
PROPERTY TAXES
Parcel Number | 2320-018-001 | Improvements Assessment | $19,310 |
Land Assessment | $79,675 | Total Assessment | $98,985 |
ZONING
Zoning Code | C2 |
Listing ID: 23477502
Date on Market: 6/21/2021
Last Updated:
Address: 11444 Vanowen St, North Hollywood, CA 91605
The Land Property at 11444 Vanowen St, North Hollywood, CA 91605 is no longer being advertised on LoopNet.com. Contact the broker for information on availability.
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