$1,515,000
$1,599,000
5.3%For more information regarding the value of a property, please contact us for a free consultation.
4418 Cahuenga BLVD Toluca Lake, CA 91602
6,599 Sqft Lot
Key Details
Sold Price $1,515,000
Property Type Vacant Land
Listing Status Sold
Purchase Type For Sale
MLS Listing ID SR20137674
Sold Date 09/01/21
HOA Y/N No
Lot Size 6,599 Sqft
Property Description
NEW PRICE! THIS IS AN EXCLUSIVE OFFERING IN THE AFFLUENT NEIGHBORHOOD OF TOLUCA LAKE ON A GREAT VISIBILITY STREET. THIS IS A ONE OF KIND OPPORTUNITY FOR AN ASTUTE INVESTOR OR DEVELOPER WHO WANTS TO BUILD A NEW APARTMENT BUILDING ON A PRIME SITE SURROUNDED BY LOTS OF NEW CONSTRUCTION. THIS PROPERTY SITS ON A 6,600 SQUARE FOOT LOT WITH A 20 FOOT ALLEY IN THE REAR. IT IS ZONED R3-1 WHICH ALLOWS FOR UP TO 8 BRAND NEW UNITS TO BE BUILT ON THE SITE BY RIGHT. IN ADDITION THROUGH BONUS DENSITY YOU MAY BE ABLE TO BUILD UP TO 12 UNITS ON THE SITE. THERE IS A LOT OF NEW CONSTRUCTION IN THE AREA INCLUDING A BRAND NEW 10 UNIT APARTMENT BUILDING TWO DOORS DOWN AND ANOTHER 5 UNIT CONDOMINIUM BUILDING AROUND THE CORNER. THERE ARE PLANS FOR A NEW 57 UNIT APARTMENT BUILDING JUST DOWN THE STREET THAT IS GOING TO BEGIN CONSTRUCTION SOMETIME THIS SUMMER. THERE ARE NO ENTITLEMENTS FOR NEW CONSTRUCTION ON THIS SITE. THE PROPERTY IS CURRENTLY IMPROVED WITH A 4 UNIT APARTMENT BUILDING THAT IS UNDER RENT CONTROL AND FULLY OCCUPIED. DO NOT MISS OUT ON THIS GREAT OPPORTUNITY AS THIS IS THE ONLY APARTMENT DEVELOPMENT SITE ON THE MARKET IN TOLUCA LAKE. SUBMIT ALL OFFERS!!
Location
State CA
County Los Angeles
Area Tul - Toluca Lake
Zoning LAR3
Interior
Fireplace No
Exterior
Fence Stone, Wood
Community Features Curbs, Gutter(s), Street Lights, Sidewalks
Utilities Available Electricity Available, Electricity Connected, Natural Gas Available, Natural Gas Connected, Sewer Connected, Water Available, Water Connected
View Y/N Yes
View Mountain(s)
Building
Lot Description Level, Rectangular Lot, Street Level, Value In Land
Sewer Public Sewer
Water Public
New Construction No
Others
Senior Community No
Tax ID 2424002002
Acceptable Financing Cash, Cash to New Loan, 1031 Exchange
Listing Terms Cash, Cash to New Loan, 1031 Exchange
Financing Cash to New Loan
Special Listing Condition Standard
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Bought with General NONMEMBER • NONMEMBER MRML