ATTN BUILDERS! DEVELOPERS! RD 1.5 zoning, Massive lot over 13,000 sqft & HUGE frontage of 100 FEET! Build 8 units! Situated in the desirable Valley Glen neighborhood with close proximity to public schools, shopping, Sherman Oaks, Valley College, and the 170, 405 & 101 Freeways - allowing residents easy access to the Valley & Los Angeles. Partnership is dissolving thus property is being sold. One partner has plans to build 8 unit premier development consisting of 8 BRAND NEW luxury Townhomes with 3 bedrooms, 3.5 baths, double attached garage at 1560 sqft each, survey is complete too, partner will turn those over to new buyer. Front photo is a rendering of the new project. Upon completion of development, you have two options, keep property for cash flow - Market Projected rents for each complete unit are $3000-$3200 per unit, thats a 5.5 CAP at $4 Million for a brand new development! Option 2: SMALL LOT DEVELOPMENT subdivision, once the property is built, sell each unit separately for approximately $600K-$625 each, sell out would be $4.8M! Current use is SFR, approximately 3350 sqft with 3 units, bringing in an income of approximately $4000 per month. This is the deal you have been looking for so don't delay! DRIVE BY ONLY, NO SIGN, DO NOT DISTURB TENANTS.
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