4418 CAHUENGA BOULEVARD, TOLUCA LAKE CA 91602

  • 6,599 sq.ft. lot
offered at $1,599,000
MLS#:SR20137674
Status: Active Under Contract // Property Type:
County: Los Angeles

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!!

Listing Courtesy of Daniel Drantch, Rodeo Realty

Exterior Features

Exterior Features: Curbs, Gutters, Sidewalks, Street Lights
FOR MORE INFORMATION, PLEASE CONTACT AGENT:
  • brogyn gage
    Realtor |
    CalBRE# 01996752
    • cell 661.904.8789
    • office 949.612.2535
    email Brogyn

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Based on information from California Regional Multiple Listing Service, Inc. as of July 1, 2021. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.