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Commercial

8747 - 8751 Van Nuys Blvd + 8720 Tobias Ave, Panorama City, CA

8747 Van Nuys Blvd, Los Angeles, CA 91402

Listing Price: $7,350,000

Lot Size
0.97 acres
Price/Acre
$7,584,356
Land Type
Land

Investment Overview

Marcus & Millichap has been selected to exclusively market for sale three parcels of land in Panorama City totaling 42,214 square foot as a development opportunity located on Van Nuys Blvd and Parthenia St. The property is being offered at $174 ppsf blended and is located east of the 405 FWY, just north of Roscoe Blvd and directly across the street from the LA Kings Valley Ice Center. This well-located asset is very walkable, with a high walk score of 87, and is located within close proximity to transit with a good transit score of 51. The subject property is located just 1.2 miles from the newly improved Van Nuys Metrolink Station, part of the Ventura County Line connecting the site to Ventura County to the west and Downtown LA to the east; bringing significant environmental benefits, economic development, and employment opportunities to the immediate area. With over 360,000 people within a three-mile radius, Panorama City is a highly desirable market in the central valley with high demand low residential vacancy rates. Preferential zoning allows for significant development potential. Based on the [Q]C2-1VL and R3 zoning and density increase benefits the development potential for the subject property is multi-family 80 buildable units by-right and up to 140 buildable units with increased density based on the Tier 3 TOC benefits.

Investment Highlights

  • Three parcel 42,214 square foot development opportunity located in Panorama City, nestled between established San Fernando Valley cities like Van Nuys, North Hills & North Hollywood
  • Significantly sized development site in an established, gentrifying area with numerous new developments underway nearby
  • Located within a newly established Qualified Opportunity Zone for investment, established by the Tax Cuts and Jobs Act, Section 1400Z
  • 195 feet of frontage, zoned C2 and R3 in a Tier 3 TOC area. The parcels feature access via Van Nuys Ave and Tobias Ave. 80 units by-right and 140 with density bonus based on Tier 3 TOC benefits
  • Located just 1.2 miles from the newly improved Van Nuys Metrolink Station, part of the Ventura County Line connecting the site to Ventura County to the west and Downtown LA to the east; bringing significant environmental benefits, economic development, and employment opportunities to the immediate area

Exclusively Listed By

Financing By

Commercial

8747 - 8751 Van Nuys Blvd + 8720 Tobias Ave, Panorama City, CA

Listing Price: $7,350,000

Lot Size
0.97 acres
Price/Acre
$7,584,356
Land Type
Land

Investment Highlights

  • Three parcel 42,214 square foot development opportunity located in Panorama City, nestled between established San Fernando Valley cities like Van Nuys, North Hills & North Hollywood
  • Significantly sized development site in an established, gentrifying area with numerous new developments underway nearby
  • Located within a newly established Qualified Opportunity Zone for investment, established by the Tax Cuts and Jobs Act, Section 1400Z
  • 195 feet of frontage, zoned C2 and R3 in a Tier 3 TOC area. The parcels feature access via Van Nuys Ave and Tobias Ave. 80 units by-right and 140 with density bonus based on Tier 3 TOC benefits
  • Located just 1.2 miles from the newly improved Van Nuys Metrolink Station, part of the Ventura County Line connecting the site to Ventura County to the west and Downtown LA to the east; bringing significant environmental benefits, economic development, and employment opportunities to the immediate area

Investment Overview

Marcus & Millichap has been selected to exclusively market for sale three parcels of land in Panorama City totaling 42,214 square foot as a development opportunity located on Van Nuys Blvd and Parthenia St. The property is being offered at $174 ppsf blended and is located east of the 405 FWY, just north of Roscoe Blvd and directly across the street from the LA Kings Valley Ice Center. This well-located asset is very walkable, with a high walk score of 87, and is located within close proximity to transit with a good transit score of 51. The subject property is located just 1.2 miles from the newly improved Van Nuys Metrolink Station, part of the Ventura County Line connecting the site to Ventura County to the west and Downtown LA to the east; bringing significant environmental benefits, economic development, and employment opportunities to the immediate area. With over 360,000 people within a three-mile radius, Panorama City is a highly desirable market in the central valley with high demand low residential vacancy rates. Preferential zoning allows for significant development potential. Based on the [Q]C2-1VL and R3 zoning and density increase benefits the development potential for the subject property is multi-family 80 buildable units by-right and up to 140 buildable units with increased density based on the Tier 3 TOC benefits.

Exclusively Listed By

Financing By

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