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Multi-Family

8751 Van Nuys Blvd Panorama City, CA

8751 Van Nuys Blvd, Los Angeles, CA 91402

Listing Price: $2,500,000

Lot Size
0.37 acres
Price/Acre
$6,686,725
Land Type
Land

Investment Overview

Marcus & Millichap has been selected to exclusively market for sale a single parcel of land in Panorama City totaling 16,286 square foot as a development opportunity located on Van Nuys Blvd and Parthenia St. The property is being offered at $154 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 P1 zoning and density increase benefits the development potential for the subject property is multi-family, 30 buildable units by-right and up to 53 buildable units with increased density based on the Tier 3 TOC benefits.

Investment Highlights

  • A single 16,286 square foot development opportunity located in prime 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.
  • Zoned C2 and P1 in a Tier 3 TOC area. Build 30 units by-right and 53 with density bonus based on Tier 3 TOC benefits
  • Located within a newly established Qualified Opportunity Zone for investment, established by the Tax Cuts and Jobs Act, Section 1400Z. The new section 1400Z allows any taxpayer to defer paying tax on capital gains from the sale of property if those gains are timely invested in a Qualified Opportunity Fund (QOF) which, in turn, must invest 90 percent of its assets in businesses located or property used in designated
  • The property boast a high walk score of 87 with close proximity to numerous transportation options as well as major retail developments such as the new Panorama City Mall, The Icon at Panorama City and numerous major retailers like Walmart, ALDI & Living Spaces.

Exclusively Listed By

Financing By

Multi-Family

8751 Van Nuys Blvd Panorama City, CA

Listing Price: $2,500,000

Lot Size
0.37 acres
Price/Acre
$6,686,725
Land Type
Land

Investment Highlights

  • A single 16,286 square foot development opportunity located in prime 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.
  • Zoned C2 and P1 in a Tier 3 TOC area. Build 30 units by-right and 53 with density bonus based on Tier 3 TOC benefits
  • Located within a newly established Qualified Opportunity Zone for investment, established by the Tax Cuts and Jobs Act, Section 1400Z. The new section 1400Z allows any taxpayer to defer paying tax on capital gains from the sale of property if those gains are timely invested in a Qualified Opportunity Fund (QOF) which, in turn, must invest 90 percent of its assets in businesses located or property used in designated
  • The property boast a high walk score of 87 with close proximity to numerous transportation options as well as major retail developments such as the new Panorama City Mall, The Icon at Panorama City and numerous major retailers like Walmart, ALDI & Living Spaces.

Investment Overview

Marcus & Millichap has been selected to exclusively market for sale a single parcel of land in Panorama City totaling 16,286 square foot as a development opportunity located on Van Nuys Blvd and Parthenia St. The property is being offered at $154 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 P1 zoning and density increase benefits the development potential for the subject property is multi-family, 30 buildable units by-right and up to 53 buildable units with increased density based on the Tier 3 TOC benefits.

Exclusively Listed By

Financing By

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