We are proud to exclusively present for sale a Development Opportunity in Valley Glen area of Van Nuys, located at the corner of Ranchito Ave. and Victory Blvd. This is a fantastic opportunity for an investor / developer to acquire and build dream contemporary income property and take advantage of strong rent growth and positive market momentum in a dynamic Valley Glen area. Time is money and great lot cleared ready to build. Total square footage of building: 31,750 s.f. 24 units project includes mix of 13 units 3-Bedroom/3-Bathroom with an average 1580 square feet and 11 units 2-Bedroom/2 Bathroom with an average unit size 1180 square foot gross area. Current rents for unrenovated units average only $1.82 per square foot, while renovated units are achieving approximately $2.52 per square foot.
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